NBCC Unlocks ₹8,500 Crore Goldmine in South Delhi

NBCC has resolved its long-standing dispute with the Delhi government over land in Ghitorni, south Delhi, securing 21.23 acres for development.

The settlement relates to a 42.46-acre plot in Sultanpur/Ghitorni village, which will now be equally divided between NBCC and the Delhi government. Under the agreement, the state government will grant NBCC a perpetual lease deed for its share of the land.

NBCC plans to develop a mixed-use real estate project on the parcel, with estimated revenue potential of around Rs 8,500 crore. The company will be permitted to develop the land in accordance with the Master Plan for Delhi (MPD-2021), including provisions for mixed-use development and sub-leasing under applicable zoning regulations.

As part of the settlement, NBCC will pay Rs 220 crore to the Delhi government. The project is expected to significantly strengthen NBCC’s real estate portfolio in the national capital.

News by Rahul Yelligetti.