State-owned National Buildings Construction Corporation (NBCC) today signed an agreement with the Delhi Development Authority (DDA) to develop a 30-hectares mega project that will also house the tallest tower in the capital.
In a filing to the BSE, NBCC said it has "...Signed MoU with DDA for development of 'East Delhi Hub' at Karkardooma. The East Delhi Hub mega project will be developed on 30 hectare land."
This would be the first project based on Transit Oriented Development (TOD) norms and Smart City features, it added.
"The project will be self-sustainable, comprising of tallest tower of Delhi, including residential, commercial, recreational and social infrastructures, among others," NBCC said.
NBCC will be paid PMC (project management consultancy) and marketing fee.
"After getting statuary approvals, the project shall be completed in a period of approximately three years," the filing said.
NBCC is present in three main segments - Project Management Consultancy (PMC), Real Estate Development and EPC Contracting.
