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NBCC Signs MoU to Redevelop Four Major Patna Projects Including Bihar's First IT Tech Park

Projects worth approx. Rs. 5,152 crore with a tentative cost of Rs. 2,000 crore to be executed on self-financing basis under Bihar government partnership

NBCC (India) Limited signs a Memorandum of Understanding with Bihar government departments to undertake four self-financed redevelopment projects in Patna, including residential colonies, Bihar's first IT Tech Park, and commercial spaces with expected sale proceeds of Rs. 5,152 crore and project cost of Rs. 2,000 crore excluding GST.

8 hours ago|NBCC+0.55%
NBCC (India) LimitedNBCCNew Ventures

NBCC (India) Limited

New Ventures

NBCC (India) Limited has signed a Memorandum of Understanding with multiple Bihar government departments to execute four redevelopment projects in Patna under Phase-I on a self-financing basis without state budgetary support.

The agreement signing took place in the presence of Bihar's Chief Minister Shri Samrat Choudhary and NBCC CMD Shri K. P. Mahadevaswamy.

The redevelopment projects include residential redevelopment of BSHB colonies at Sector 5 (TV Tower) and Sector 6 (Bahadurpur), totaling 3,331 residential flats across EWS, LIG, MIG and HIG categories with auxiliary facilities such as shopping complexes, clubhouses, gyms, community spaces, and offices.

Additional projects include Bihar's first modern IT Tech Park for the Directorate of Information Technology at Gardanibagh and commercial spaces with hotels at the Water Resources Department site on Bailey Road, Patna.

The expected sale and lease proceeds from these projects amount to approximately Rs. 5,152 crore while the tentative project cost is estimated at Rs. 2,000 crore exclusive of GST.

Project Management Consultancy (PMC) charges are fixed at 6% and marketing fees at 1.25%. Detailed project-wise information will be provided later.

Highlights

  • Four redevelopment projects in Patna signed under MoU with Bihar government departments.
  • Projects include residential colonies, Bihar's first IT Tech Park, and commercial/hotel spaces.
  • 3,331 residential flats planned for various income groups with supporting amenities.
  • Expected sale/lease proceeds estimated at Rs. 5,152 crore approx.
  • Tentative project cost around Rs. 2,000 crore excluding GST.
  • Projects to be executed on a self-financing basis without state budgetary assistance.

Key Data Snapshot

Number of residential flats3,331 flats
Expected sale/lease proceedsRs. 5,152 crore (approx.)
Tentative project costRs. 2,000 crore (approx.) exclusive of GST
Project Management Consultancy Charges6%
Marketing Fee1.25%
Date of MoU signingNovember 02, 2026

What happened

  • NBCC signed a Memorandum of Understanding with various Bihar government departments to undertake four redevelopment projects in Patna under Phase-I.
  • The signing ceremony was attended by the Hon'ble Chief Minister of Bihar and NBCC officials.
  • The projects will be carried out on a self-financing basis without budgetary assistance from the State Government.

Key details

  • The redevelopment includes residential projects at BSHB colonies in Sector 5 (TV Tower) and Sector 6 (Bahadurpur) offering 3,331 flats across different income categories.
  • Developing Bihar's first modern IT Tech Park for the Directorate of Information Technology at Gardanibagh, Patna.
  • Commercial and hotel projects at the Water Resources Department site on Bailey Road, Patna.
  • Expected sale/lease proceeds estimated around Rs. 5,152 crore; the tentative project cost is Rs. 2,000 crore excluding GST.
  • PMC charges are 6% and marketing fees are 1.25%.
  • Further project-wise details to be disclosed later.

Regulatory and governance context

  • Projects approved pursuant to a cabinet note from the Urban Development and Housing Department, Government of Bihar.
  • All projects to be executed without any state government budgetary support as per the MoU terms.

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NBCC Signs MoU to Redevelop Four Major Patna Projects | Stockk News