National Buildings Construction Corporation ltd. (NBCC) is a government company in the business of project management consultancy, real estate development and EPC contracting. Established in 1960 by the ministry of urban development, it now has more than 36,000 Cr order book in hand. The real estate business of NBCC comes from two sources. The first is, internally originated and conceptualized projects, where the company purchases land from private players and government agencies, develop it and sell it off. The other projects are sourced by government, where NBCC re develops the allotted land. NBCC also has an overseas reach in countries like Libya, Iraq, Yemen, Nepal, Maldives, Mauritius, Turkey and Botswana. To emphasize on the role of NBCC in real estate development, some of the NBCC projects are mentioned below:
1) Affordable Housing Project
NBCC came up with its first residential project in Delhi, in 2008. The project was aimed at providing housing facilities to people at cheaper prices than private developers, at the same locations. The project offered 1,300 3-4 bedroom houses in Gurgaon, Noida and Ghaziabad in the price range of 25-45 lakhs. At the time when real estate was experiencing a downfall, NBCC managed to offer houses at cheap prices because of its forward costing method and transparent mechanism.
2) Vasant Kunj Extension
This 240 acre NBCC project comprises of 10,000 residential flats near Vasant Kunj. NBCC invested 10,000 Cr to build this project, fueling the real estate of the area. Proximity to Connaught Place, IGI Airport and Ghitorni Metro Station makes Vasant Kunj Extension an attraction for residential real estate investors. The project will be completed in the next 2-3 years and is expected to create a lot of demand for residential as well as commercial properties.
3) East Delhi Hub
DDA and NBCC are jointly proceeding toward the completion of a 100 storey building that would provide housing to 3000-4000 families along with commercial and recreational areas. The 2,500 Cr project is inspired by the smart city concept and will have features like energy conservation, water harvesting and IT enabled services. It is going to be a benchmark of infrastructural development and will be a magnet for investors and residents.
4) Ganga Cleaning Project
NBCC is set to commence its Ganga Cleaning Project in Bihar, as a part of its CSR activities. Cleaning of debris, construction of new ghats, modernization of existing ghats, repair, cleaning of the river surface, construction of crematorium and public facilities like toilets, setting up a village drainage system are some of the activities that will be covered by the project. Government has already approved financial proposals for a few projects and would end up approving the projects in 19 cities of Bihar.
Other CSR activities that the company has been executing are the installation of bio-digester toilets in village schools, providing scholarships to economically weaker school children and participating in skill development of workers to name a few.
NBCC Services Limited was incorporated on August 16, 2014 in New Delhi to act as execution and implementation agency to undertake CSR projects.
Thus, NBCC is an apex body that takes serious initiatives for the development of the country. Unlike private developers, it is not a profit driven body. Rather, societal and industrial development holds priority for NBCC. Real Estate Development and Construction Corporation of Rajasthan Limited, a joint venture of NBCC, was incorporated in 2016 to look after the real estate re development projects in Rajasthan. Another wholly owned subsidiary, in the name of NBCC Engineering and Consultancy Ltd (NECL) was formed in 2015 to handle all the real estate related consultancy work. This shows NBCC’s dedication toward upliftment of the real estate sector.
With its extra ordinary work and developments, NBCC is craving a beautiful future for Indian Real Estate.