NBCC, Bihar Sign Rs 2,000 Crore Deal for Patna Projects

NBCC Ltd has signed a Memorandum of Understanding (MoU) with the Bihar government to develop four residential and commercial redevelopment projects in Patna, with a tentative project cost of Rs 2,000 crore, excluding GST.

The Phase-I projects will be undertaken on a self-financing basis without budgetary assistance from the state government, according to the company’s regulatory filing.

NBCC to Undertake Four Redevelopment Projects in Patna

The agreement covers residential redevelopment, an IT Tech Park and commercial development in the Bihar capital.

The MoUs were signed with various departments of the Bihar government in the presence of Chief Minister Samrat Choudhary and NBCC chairman and managing director KP Mahadevaswamy.

NBCC said the expected sale and lease proceeds from the projects would total Rs 5,152 crore.

The tentative project cost is estimated at Rs 2,000 crore, excluding GST. The company also disclosed a project management consultancy charge of 6% and a marketing fee of 1.25%.

Residential Redevelopment to Include 3,331 Flats

Two of the proposed projects involve residential redevelopment in Patna.

Together, they will comprise 3,331 flats for economically weaker section (EWS), low-income group (LIG), middle-income group (MIG) and high-income group (HIG) categories.

The planned housing component covers multiple income categories.

The filing does not specify the number of flats allocated to each group, the project locations beyond Patna, or the development timelines.

The residential redevelopment is one part of the broader Phase-I programme. Details regarding the existing properties to be redeveloped and the implementation schedule were not provided in the report.

IT Tech Park and Commercial Development Planned

NBCC will develop an IT Tech Park for the Department of Information Technology, Bihar, at Gardanibagh in Patna.

The project adds a technology-oriented commercial component to the redevelopment programme.

The agreement also includes hotels and commercial spaces at the Water Resources Department site on Bailey Road in Patna.

The report does not provide the planned floor area, hotel capacity, number of commercial units or specific development timelines for these components.

Also Read: Bihar Plans 220-km Riverfront Expressway Network to Boost Connectivity

Self-Financing Model and Project Value

The projects will be developed under a self-financing arrangement, without budgetary support from the Bihar government.

NBCC’s filing states that the expected sale or lease proceeds are projected at Rs 5,152 crore against a tentative cost of Rs 2,000 crore, excluding GST.

The disclosed figures relate to the overall project programme. The company has not provided a separate cost or projected proceeds breakdown for the residential, IT park, hotel and commercial components in the report.

Also Read: NBCC Sells 111 Noida Flats for ₹416.53 Crore via E-Auction

Key Takeaways

• NBCC signed an MoU with Bihar government departments for four redevelopment projects in Patna.
• The tentative project cost is Rs 2,000 crore, excluding GST.
• Two residential projects will comprise 3,331 flats across EWS, LIG, MIG and HIG categories.
• The plan includes an IT Tech Park at Gardanibagh and hotels/commercial spaces at the Water Resources Department site on Bailey Road.
• Expected sale and lease proceeds are projected at Rs 5,152 crore, with the projects planned on a self-financing basis.

Explore Patna real estate localities for property-area information.

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