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The Delhi Development Authority (DDA) on Friday signed an MoU with National Buildings Construction Corporation Ltd (NBCC) for the joint development of 'Lake View Complex’ – a project near Trilokpuri in NCR.
“The 26-acre commercial land will be developed on Transit Oriented Development (TOD) norms in partnership with NBCC. The site overlooks Sanjay Lake which will also be cleaned and rejuvenated as part of the project,” said DDA Vice-Chairman Balvinder Kumar.
It will include residential apartments, old age homes, commercial centres, and educational institutions.
NBCC will be responsible for construction and demand assessment for land use.
The project is scheduled to be completed in 3-4 years at a cost of Rs 1,500-1,800 crore which will be borne by DDA.
NBCC will act as a project management consultant. It will get one per cent marketing cost and 10 per cent project management cost.
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