HUDCO, NBCC Sign Two MoUs for Delhi Redevelopment, Asset Monetisation
In April 2026, the Housing and Urban Development Corporation (HUDCO) under the Ministry of Housing and Urban Affairs (MoHUA)and NBCC (India) Limited, a Navratna Central Public Sector Enterprise(CPSE) under the MoHUA, signed 2 strategic Memorandums of Understanding (MoUs) to collaborate on urban redevelopment projects and asset monetisation initiatives in Delhi.
In April 2026, the Housing and Urban Development Corporation (HUDCO) under the Ministry of Housing and Urban Affairs (MoHUA)and NBCC (India) Limited, a Navratna Central Public Sector Enterprise(CPSE) under the MoHUA, signed 2 strategic Memorandums of Understanding (MoUs) to collaborate on urban redevelopment projects and asset monetisation initiatives in Delhi.
- The MoUs were signed by Sanjay Kulshrestha, Chairman & Managing Director(CMD), HUDCO and K.P. Mahadevaswamy, CMD, NBCC in New Delhi, Delhi.
Key Details of MoUs:
Redevelopment Project :The first MoU covers the redevelopment of an approximately 18,830 square meters.(sq. m) leasehold land parcel at August Kranti Bhawan, Bhikaji Cama Place, New Delhi.
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- It includes techno-economic feasibility, construction, project management, and monetisation of built-up space.
Asset Monetisation: The second MoU focuses on asset monetisation for NBCC’s self-sustainable projects, with HUDCO providing funding support (subject to approvals) and NBCC managing project execution and consultancy services.
Collaboration: Both organisations will jointly leverage their strengths in financing, project execution, and consultancy services.
Validity: Both MoUs are valid for two years and are subject to annual reviews.
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