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NBCC says itís willing to help stuck realty projects in Noida, Gr Noida
Hindustan Times  |  July 31, 2018

Vinod Rajput NOIDA

The central government’s construction firm National Building Construction Corporation (NBCC) India Ltd said on Monday it is ready to help stuck housing projects in Noida and Greater Noida in order to deliver “quality products on time.”


The construction agency said it is conducting site inspections to collect required details on the projects, which are running behind schedule.


“We are exploring options on how we can help realty projects which could not be completed on time and home-buyers or investors could not get flats. We are exploring the projects developed by Amrapali, Jaypee Group and other builders,” said Dr Anoop Kumar Mittal, chairman-cummanaging director, NBCC.


Officials said NBCC is not only willing to help stuck housing projects, but also take up new ones.


NBCC, which functions under the Union ministry of housing and urban affairs, on Monday invited expression of interests from private realty players for joint development projects.


“We can also become a co-developer in new projects. We can handle all sorts of work such as project management, technical consultancy and construction since we have the required expertise. The objective is that investors or home-buyers can get units on time and better quality products,” Mittal said.


NBCC added that it intends to enter into collaboration / joint venture as a co-developer/ implementing agency for project management consultancy, project branding, sales, marketing on the licensed land owned by the private firms or government agencies. The interested firms can submit their proposal to NBCC till September 1, officials said.


“Once we will receive the applications ... we will process the proposals,” said Mittal.


On June 18 this year, the UP government had formed a six-member committee to help over three lakh home-buyers, who have been facing multiple problems in Noida, Greater Noida and Yamuna Expressway industrial development authority areas. The committee, headed by secretary, ministry of housing and urban development, has conducted meetings with stakeholders and NBCC officials.


“NBCC is exploring economic viability of projects before it finalises how it can help in finishing these stuck projects... The committee is deliberating on ways to solve issues faced by the home-buyers. It is yet to finalise any plan,” said Alok Tandon chief executive officer of the Noida authority, a committee member.


“We have already given representation to NBCC about our projects. We want the NBCC should come and help finish projects so that the home-buyers can get ready flats,” said Shiv Priya, director, Amrapali Group. The Jaypee Group refused to comment as the matter is sub judice in the Supreme Court.