Srinagar (09.08.2024): Srinagar Development Authority (SDA) and NBCC (India) Ltd signed an MoU on 8.8.2024 for implementing development of Satellite Township at Rakh Gund Aksha, Bemina, Srinagar, spread over approximately 406 acres. The project site is located adjacent to upcoming Medi City and High Court Complex. NBCC will implement the project from ‘concept to commissioning’ as Project Management and Marketing consultant at an estimated cost of Rs 15000 cr approximately.
The MoU was signed by Owais Ahmed, Vice Chairman, SDA and Sanjay Gupta, Executive Director, NBCC. The MoU was signed in the presence of Mandeep Kaur, Commissioner/Secretary of the Housing and Urban Development Department, Government of J&K; K P Mahadevaswamy, Chairman and Managing Director, NBCC and Ravi Arora, Joint Secretary of the Ministry of Housing and Urban Affairs (MoHUA).
The project, scheduled for completion over five years, will be developed in phases and will include a diverse range of components. It will feature residential plots, luxury villas, apartment complexes, commercial office spaces, an indoor sports centre and a 200-key five-star resort equipped with modern facilities and amenities. Additionally, the project will incorporate approximately 3,200 affordable housing units, each with an area of 45 square meters.
