PSU to construct Rs 15,000 crore township in Srinagar | India Information

Within the subsequent two years, you might be able to purchase a residential plot in a brand new satellite tv for pc township in Srinagar, which might be developed by the govt-owned Nationwide Buildings Building Company (NBCC). The PSU on Friday mentioned it would develop the greenfield township unfold over 406 acres within the valley entailing an funding of Rs 15,000 crore within the subsequent 5 years.The brand new township will come up at Rakh Gund Aksha, simply 8 km from Lal Chowk.
‘Anybody should buy plots in new Srinagar township’
The Srinagar township challenge could have residential plots, luxurious villas, residence complexes, business workplace areas, an indoor sports activities centre and a 200-room five-star resort outfitted with fashionable amenities and facilities.

NBCC signed MoU with Srinagar Improvement Authority Friday to implement the challenge. NBCC chairman Okay P Mahadevaswamy advised TOI, “We’ll put together the detailed challenge and the goal is to finish the challenge in 5 years.”
Sources mentioned that within the first part, NBCC will full the plotting train and these might be provided on the market.
“Anybody should buy the plots. Because it’s being developed on self-sustaining mode, the proceeds from sale of plots might be utilised for branding and initiating improvement works. Subsequently, business areas, flats and inexpensive housing tasks might be taken up in phases. It will assist us in value discovery,” a supply mentioned. The business house might be leased out.
As per the plan, almost 55% of the world below new township might be utilised for residential functions; one other 12% for business and 10% for greenery. Sources mentioned 15% of the residential part might be utilised for constructing 3,200 inexpensive homes. The challenge is estimated to generate 125 lakh mandays throughout development and 504 lakh mandays post-development.
NBCC mentioned the challenge’s improvement price, web site infrastructure, amenities, facilities and inexpensive housing models might be funded by a self-sustaining mannequin, counting on income generated from sale of villas, business areas, and different elements.