NBCC Partners with GDA for a Major Urban Redevelopment in Ghaziabad
In an ambitious move to revamp urban spaces, NBCC (India) Limited, a distinguished Navratna company operating under the Ministry of Housing and Urban Affairs, has entered into a collaboration with the Ghaziabad Development Authority (GDA). This partnership aims to undertake the extensive redevelopment of the Tulsi Niketan Scheme Area with a budget set at ₹642.82 crores.
The agreement was inked by Shri Rajesh Kumar Singh, IAS, Secretary of GDA, and Shri Pradeep Sharma, Executive Director (Engineering) & RBG-Head, Business Development Division, at NBCC (India) Ltd. This initiative is a significant stride towards fostering a modern and sustainable urban landscape in Ghaziabad.
Project Overview
The redevelopment project will transform the Tulsi Niketan Scheme Area, which spans over 78,000 square meters and includes approximately 2300 residential units along with 64 commercial shops. The plan involves a self-sustaining financial model, where parts of the area will be commercially developed to fund the project.
Collaborative Efforts and Project Management
NBCC is set to conduct a comprehensive feasibility study as the initial step of this collaboration. GDA will support this phase by providing essential land documents, site details, and administrative assistance. Following the approval of the feasibility study, NBCC will lead the project execution covering planning, design, construction, financial oversight, marketing, sales, and the resettlement of current residents.
A jointly managed escrow account will be established to handle all project revenues, ensuring transparency and proper use of funds. An Empowered Committee, featuring members from both GDA and NBCC, will oversee the project. This committee will be responsible for monitoring progress, approving designs and budgets, and steering the project from its conception through to its completion.
Resettlement Plans
The redevelopment plan includes a well-structured and timely resettlement of the current occupants. GDA will provide a verified list of beneficiaries, while NBCC will manage the physical relocation efforts. This approach ensures minimal disruption to the existing residents while transitioning them to improved living conditions.
Looking Forward
The redevelopment of Tulsi Niketan is envisioned to create a contemporary, well-organized, and future-ready residential area equipped with advanced infrastructure and amenities, promoting a sustainable urban environment. This project not only reinforces the commitment of NBCC and GDA to enhance infrastructure but also aims to elevate the living standards of the community.
NBCC has previously demonstrated its expertise in self-sustainable redevelopment projects, having successfully completed significant projects like New Motibagh and East Kidwai Nagar GPRA in New Delhi. Currently, it is involved in similar redevelopment projects across various Indian states including Goa, Jammu and Kashmir, Kerala, and Rajasthan, and has engaged in partnerships with notable Public Sector Undertakings for further development initiatives.
The commencement of this project follows the recent inauguration of the World Trade Center in Nauroji Nagar by the Hon’ble Prime Minister of India, Shri Narendra Modi, marking another milestone in NBCC’s portfolio of transformative urban projects.
