State cabinet nod to PSU to sell 1.5L sqm of govt-owned redeveloped areas in Panaji

Panaji: The National Building Construction Corporation (NBCC) (India) Ltd will be permitted to sell over 1.5 lakh sqm of built-up areas in a prime location, predominantly in Panaji, owned by govt of Goa. This is more than double the built-up area designated for the construction and redevelopment of the seven projects undertaken by the company. NBCC is set to develop hotels, apartments, and offices for sale.

The total plot area of the seven projects is over 77,000 sqm, and the built-up area is over 2.1 lakh sqm. The saleable area amounts to 1.5 lakh sqm, while the built-up area retained by govt exceeds 62,000 sqm.null

The state cabinet on Monday granted approval to sign an MoU between Goa govt and NBCC, a PSU, for the construction and redevelopment of 7 projects on PPP basis.

The seven projects include the redevelopment of Junta House in Panaji, Circuit House in Altinho, govt quarters in St Inez, govt garage in Panaji, and KTC bus stand in Vasco, as well as the construction of Prashasan Stambh (administrative building) at Chimbel.

Chief minister Pramod Sawant said that state govt will retain 100% of the built-up area in two projects, including Prashasan Stambh and Circuit House. State govt will retain 24% of the built-up area in Junta House, 5% in the govt garage, 25% in govt quarters, and 8% built-up area and 30% plot areas at the KTC bus stand in Vasco.

Govt has approved the handing over of Circuit House, govt garage, and KTC bus stand to NBCC, and the remaining sites will be handed over when the occupants on the said land vacate.

“Within 15 days, the foundation stone will be laid for some of the projects,” Sawant said.

The total cost of the project to be executed by NBCC will be over Rs 1,700 crore. The additional operation and maintenance costs for five years are estimated at Rs 25 crore.

The total cost of the project will be met from the freehold sale of commercial built-up areas in Junta House, govt garage, and Vasco KTC bus stand.

The construction will be completed in a phased manner within three years, which is the outer limit. The date of commencement of construction for each project shall be reckoned after 30 days from the handing over of the encumbrance-free site.