NBCC (India) has secured a ₹3,500-crore contract to develop a mixed-use property in Lucknow, Uttar Pradesh. The project is part of an MoU with Sarkari Awas Nirman Avam Vitt Nigam. NBCC will act as the project management consultant for the development of a 588-acre site named Poorvi Vihar. In Phase I, NBCC will begin work on a 50-acre encumbrance-free site, focusing on planning, design, and development.
State-owned NBCC (India) Ltd has secured a significant contract valued at ₹3,500 crore for the development of a mixed-use project in Lucknow, Uttar Pradesh. This initiative is part of a Memorandum of Understanding (MoU) signed with Sarkari Awas Nirman Avam Vitt Nigam Ltd, under which NBCC will serve as the Project.
Project Overview
The Poorvi Vihar project encompasses a total area of 588 acres designated for mixed-use development. As the PMC, NBCC’s responsibilities include overseeing the planning, design, and execution of the project’s various components, ensuring adherence to quality standards and timely completion.
Phase 1 Details
The initial phase focuses on a 50-acre encumbrance-free parcel within the larger site. NBCC will undertake comprehensive planning, designing, and development activities for this segment, with the phase valued at approximately ₹3,500 crore. This phase sets the foundation for subsequent development stages and achieving the project’s overall objectives.
Execution Model
The project will be executed on a ‘deposit work’ basis. Under this model, NBCC will charge an agency fee of 10% on the actual cost of the project, in addition to applicable Goods and Services Tax (GST) and other taxes. This financial structure ensures transparency and aligns the interests of both NBCC and the Sarkari Awas.
Strategic Significance
This project aligns with NBCC’s core competencies in project management consultancy and real estate development. By undertaking the Poorvi Vihar development, NBCC reinforces its commitment to contributing to urban development and infrastructure enhancement in India. The project is expected to.
Upon successful completion of Phase 1, the project is poised to progress into subsequent phases, further expanding the mixed-use development across the remaining acreage. NBCC’s involvement in such large-scale projects underscore.
In summary, NBCC’s engagement in the Poorvi Vihar project marks a significant milestone in its project portfolio, reflecting its expertise in managing and executing large-scale urban development projects. The collaboration with Sarkari Awas Nirman Avam Vitt Nigam Ltd is expected to yield a modern, planned mixed-use development.
Strategic Importance
NBCC’s win is being viewed as part of a broader strategy to increase its footprint in tier-2 cities, where infrastructure and urban housing demand is surging. Lucknow, as a fast-growing metro, has seen substantial investments in recent years and has become a key focus for real estate developers and public infrastructure bodies alike.
“The Lucknow mixed-use project is a milestone in our journey to contribute to the urban transformation of India’s emerging cities. It reflects the growing trust in NBCC’s capabilities and our commitment to delivering world-class infrastructure,” said K.P. Mahadevaswamy, CMD, NBCC.
Revenue Model and Execution
Execution is expected to be carried out in phases over a period of five to seven years, with the first phase focusing on key commercial and residential components. NBCC has announced plans to engage reputed architecture and urban planning firms to ensure aesthetic and functional excellence.
Economic and Social Impact
NBCC’s ₹3,500 crore mixed-use project in Lucknow marks a significant step forward in the transformation of the city’s infrastructure and urban planning landscape. With a balanced focus on sustainability, innovation, and economic value, this project has the potential to become a benchmark for integrated urban development in India.
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