NBCC Patna Redevelopment Plan to Deliver 3,331 Homes Under ₹2,000 Crore Project
NBCC (India) Limited has signed memorandums of understanding (MoUs) with various departments of the Bihar government to undertake four redevelopment projects in Patna, with a tentative investment of approximately ₹2,000 crore, excluding GST. The Phase-I programme includes two residential developments that will collectively provide 3,331 housing units across different income groups.
The agreements were signed in the presence of Bihar Chief Minister Samrat Choudhary, NBCC Chairman and Managing Director K. P. Mahadevaswamy, and other government and company officials.
Four Projects Planned Across Patna
The NBCC Patna redevelopment programme covers two Bihar State Housing Board (BSHB) colonies, a proposed IT Tech Park and a commercial development.
The residential component includes the redevelopment of BSHB Colony at Sector 5 (TV Tower) and Sector 6 (Bahadurpur). Together, these developments will provide 3,331 flats for economically weaker sections (EWS), low-income groups (LIG), middle-income groups (MIG) and high-income groups (HIG).
The residential projects will also incorporate shopping complexes, clubhouses, gyms, community facilities, office spaces and other supporting infrastructure.
The third project involves developing a modern IT Tech Park for the Department of Information Technology, Bihar, at Gardanibagh. The facility is planned as the state's first IT Tech Park.
The fourth development will include hotels and commercial spaces at the Water Resources Department site on Bailey Road in Patna.
Self-Financing Model and Expected Returns
All four projects will be undertaken through a self-financing redevelopment model without requiring budgetary assistance from the Bihar government.
NBCC has estimated combined sale and lease proceeds of approximately ₹5,152 crore from the developments, against a tentative project cost of ₹2,000 crore, excluding GST.
The company has also disclosed project management consultancy charges of 6% and a marketing fee of 1.25%. Detailed project-wise information is expected to be provided separately.
The initiative brings residential redevelopment and commercial development together under one programme, with the housing component covering four income categories. The proposed IT Tech Park and hospitality facilities form the remaining parts of the Phase-I plan.
