Both public sector companies have signed a memorandum of understanding (MoU) regarding this.
The project valued at Rs 1600 Crore will transform the land parcel into a state-of-the-art residential and commercial space, leveraging the expertise and resources of both organisations, NBCC said in a statement.
NBCC is a Navratna PSU under the Ministry of Housing and Urban Affairs, and will act as the executing and implementing agency for the development of the land parcel.
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