In a significant move, NBCC (National Buildings Construction Corporation) is set to begin development and re-development projects in Goa worth approximately ₹10,000 crore. These projects will be carried out in phases, starting with an initial investment of over ₹1,700 crore.
Phased Approach to Development
The first phase will include six key projects across Goa. These projects will focus on commercial spaces, administrative buildings, and residential areas. The total area for these projects is around 53,000 square meters, with an expected built-up area of about 185,000 square meters.
Sustainable and Innovative Model
NBCC plans to execute these projects on a self-sustainable basis. This means they will not rely on government funding. Instead, NBCC may take loans from banks, secured by mortgaged land. The loan will be repaid using revenue generated from the projects.
Details of the First Phase Projects
The six projects in the first phase include:
- Commercial space at Junta House, 18th June Road, Panjim
- Commercial space at Govt Garage, M.G. Road, Panjim
- An administrative building in Porvorim
- A circuit house and hotel at Altinho, Panjim
- Residential space for government quarters at St. Inez
- A mini convention center at Tiswadi Patto
These projects are expected to generate over ₹1,700 crore in revenue.
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Government Collaboration and Future Plans
The Government of Goa will retain part of the built-up area after project expenses are met. NBCC will also serve as a Project Management Consultant (PMC) for other development initiatives funded by the government.
NBCC is known for its innovative redevelopment efforts across India, with successful projects in New Delhi. The corporation continues to expand its projects nationwide, securing significant contracts in places like Srinagar and Kochi.
This initiative in Goa marks another step forward for NBCC in enhancing urban infrastructure while ensuring sustainability and revenue generation.
