The National Buildings Construction Corporation (NBCC) is poised to embark on substantial development and redevelopment projects in Goa, with an estimated value of around ₹10,000 crore. This initiative will be executed in phases, commencing with six projects in Goa, collectively valued at over ₹1,700 crore. This endeavour represents a significant step in NBCC’s commitment to sustainable development and the enhancement of infrastructure, further solidifying its essential role in India’s urban development landscape.

These projects will be developed under a distinctive self-sustaining model, thereby eliminating the need for budgetary support from the Government of Goa. This innovative approach prioritizes revenue generation and demonstrates a forward-thinking perspective on development. If initial expenditures are necessary, the Government of Goa will authorize NBCC to secure loans from financial institutions by mortgaging land parcels, with the repayment to be sourced from projected monetization revenues. The collaboration aims to rejuvenate vacant and underutilized lands, as well as dilapidated buildings, thereby optimizing asset utilization and maximizing returns for the Government of Goa.

Previously, NBCC formalized its commitment through a Memorandum of Understanding (MoU) with the Government of Goa, which facilitates the execution of various development and redevelopment works in a phased manner.

Overview of Initial Phase Projects: As outlined in the in-principle approval, the first phase will encompass six projects in Goa, including:

1. Commercial space (retail and office/hotel) at Junta House, 18th June Road, Panjim.
2. Commercial space (retail and office/hotel) at Government Garage, M.G. Road, Panjim.
3. An administrative building in Porvorim.
4. A circuit house and hotel at Altinho, Panjim.
5. Commercial and residential space for government quarters at St. Inez.
6. Commercial space (retail and office/hotel) for a Mini Convention Centre at Tiswadi Patto.

The total area for these six projects is approximately 53,000 square meters, with a built-up area expected to reach around 185,000 square meters. Anticipated revenue generation from these initiatives is projected to exceed ₹1,700 crore. Additionally, NBCC will conduct a feasibility study for the redevelopment of the Vasco bus stand.

The Government of Goa will retain a portion of the built-up area in these projects after covering project expenses. Furthermore, NBCC will assume the role of Project Management Consultant (PMC) for other development projects funded by the Government of Goa, which may include initiatives in education, health, and other sectors as deemed appropriate.

NBCC has established itself as a pioneer in redevelopment, executing various projects on vacant or underutilized land across the nation. In New Delhi, the corporation has successfully redeveloped regions such as New Moti Bagh and East Kidwai Nagar. Currently, it is undertaking the redevelopment of Nauroji Nagar, Sarojini Nagar, and Netaji Nagar as part of a broader initiative involving seven General Pool Residential Accommodation (GPRA) colonies. Notably, these projects are structured to be self-sustaining, ensuring no financial burden on the public exchequer. Additionally, NBCC is expanding its footprint in other parts of the country, recently securing contracts in Srinagar valued at ₹15,000 crore and in Kochi worth ₹2,000 crore.

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