Updated By: LatestGKGS Desk
MoU signed for redevelopment of New Delhi areas with CPWD, NBCC
Union Ministry signed Memorandum of Understanding with Central Public Works Department and National Buildings Construction Corporation
The Union Ministry has signed MoU with Central Public Works Department and National Buildings Construction Corporation Ltd. on 25th October 2016.
This MoU has been signed for re-development of the General Pool residential Accommodation in New Delhi.
The National Building Construction Corporation will redevelop Netaji Nagar, Sarojini Nagar and Nauroji Nagar and CPWD will redevop areas like Thyagraj Nagar, Srinivaspuri and Mohammadpur.
This project will be executed on self-financing basis by the sale of commercial Built up area (BUA) of 8.07 lakh sqm constructed in Nauroji Nagar and Sarojini Nagar
It is expected that the construction of this project will be complete within five years.
The total estimated cost of the project is Rs.32835 crore which includes maintenance and operation for 30 years.