NBCC and MTNL to Develop Rs 1,600-Crore Project on Pankha Road
State-owned NBCC (India) Ltd has entered into an agreement with Mahanagar Telephone Nigam Ltd (MTNL) to develop a large-scale residential and commercial project on Pankha Road, New Delhi. The project, valued at approximately Rs 1,600 crore, will span 13.88 acres of land owned by MTNL.
The Memorandum of Understanding (MoU) was signed in the presence of K P Mahadevaswamy, CMD of NBCC, and A Robert J. Ravi, CMD of MTNL. The collaboration between NBCC, a leading Navratna enterprise under the Ministry of Housing & Urban Affairs, and MTNL, a public sector telecom giant, is aimed at transforming the land into a modern, mixed-use development.
Under this partnership, NBCC and MTNL will bring their expertise to the table, NBCC will act as the executing agency, responsible for the master planning, architectural design, and overall project management. The company will ensure that the development complies with local town planning regulations and will oversee the project from tendering to construction, including post-construction activities. MTNL will contribute the land free of encumbrances and assist in securing necessary regulatory approvals.
The development will be carried out in phases over a three-year period, with a focus on maximizing both residential and commercial potential. This initiative is expected to leverage the expertise of both NBCC and MTNL, delivering a state-of-the-art living and working space in the heart of the national capital.
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