NBCC aims to build one lakh budget houses over next five years

State-owned project management consultancy firm NBCC is planning to build over 1 lakh affordable houses on its own land parcels, plots owned by the government and public sector undertakings, said a top company official. 

It is looking to build these houses over the next five years to support the government’s stated objective of Housing for All by 2022. “Our target is to build 1 lakh affordable houses over the next five years. 

This would entail cost of Rs 10,000 crore, which will be shared between all the stakeholders,” Anoop Kumar Mittal, chairman of NBCC, told ET. “Some of these projects would start this year itself.”

These projects would offer residential apartments starting from Rs 10 lakh and going up to Rs 50-60 lakh depending on the location of the project. NBCC is expected to make a profit margin of around 8-10% through these projects. NBCC has over 200 acres of land parcels in cities such as Alwar, Jaipur, Faridabad, Kochi, Patna, Kolkata, Bhubaneswar and Coimbatore that would be utilised to build these houses apart from land to be allotted by the government.

The company has initiated discussions with many PSUs to execute the housing projects on their surplus land parcels in locations that include Delhi, Gurgaon, Pune, Hyderabad, Nainital and Raigadh near Mumbai.

Source- ET Realty