Daijiworld Media Network - Panaji
Panaji, Sep 23: The National Building Construction Corporation (NBCC) (India) Ltd has been granted permission to sell over 1.5 lakh sqm of built-up areas in prime locations in Goa, predominantly in Panaji. This is more than double the built-up area designated for the construction and redevelopment of seven major projects by the PSU. NBCC will develop hotels, apartments, and offices for sale.
The total plot area for the seven projects exceeds 77,000 sqm, with a built-up area of over 2.1 lakh sqm. Of this, 1.5 lakh sqm will be saleable, while the government will retain over 62,000 sqm.
The state cabinet on Monday approved the signing of a Memorandum of Understanding (MoU) between the Goa government and NBCC for the construction and redevelopment of these projects on a public-private partnership (PPP) basis.
The seven projects include the redevelopment of Junta House in Panaji, Circuit House in Altinho, government quarters in St Inez, government garage in Panaji, KTC bus stand in Vasco, and the construction of Prashasan Stambh (administrative building) at Chimbel.
Chief Minister Pramod Sawant said the government will retain 100% of the built-up area in Prashasan Stambh and Circuit House. In other projects, retention will be 24% at Junta House, 5% at the government garage, 25% at government quarters, and 8% built-up area with 30% plot area at KTC bus stand, Vasco. The Circuit House, government garage, and KTC bus stand will be handed over to NBCC immediately, while the remaining sites will be transferred once the current occupants vacate.
Sawant added, “Within 15 days, the foundation stone will be laid for some of the projects.”
The total project cost for NBCC is estimated at over Rs 1,700 crore, with additional operation and maintenance costs for five years pegged at Rs 25 crore. The funding will come from the freehold sale of commercial built-up areas in Junta House, government garage, and Vasco KTC bus stand.
The phased construction is expected to be completed within three years, with the commencement date for each project calculated 30 days after the handing over of an encumbrance-free site.