NBCC to Transform Goa with Rs 10,000 Crore Development Projects

NBCC is set to embark on major development and redevelopment ventures in Goa valued at Rs 10,000 crore. The first phase includes six projects worth over Rs 1,700 crore. Authorized by the Goa government, NBCC will raise funds without budgetary aid, focusing on commercial, residential, and administrative spaces.

NBCC, a prominent realty firm, announced on Monday ambitious plans to execute development projects in Goa worth Rs 10,000 crore.

The projects will unfold in phases, with six initial developments valued at over Rs 1,700 crore. This initiative operates under a self-sustaining model, allowing NBCC to seek authorization from the Goa government to secure loans if necessary, while the state refrains from direct budgetary assistance.

NBCC's endeavors, guided by an MoU with the state, include commercial and residential projects across various Goan locations. The scheme promises significant revenue and retains a share of the built-up area for the government, while also positioning NBCC as a Project Management Consultant for additional state-supported projects.

(With inputs from agencies.)