MoU signed between NBCC and Department of Posts to redevelop prime government land parcels across India into self-sustaining commercial and residential hubs
NBCC (India) Ltd and the Department of Posts (DoP) have signed a Memorandum of Understanding (MoU) to transform dormant postal lands into bustling modern hubs of development. The MoU was signed by Shri Parimal Sinha, DDG (Estates & MM, Department of Post(DoP) & Shri Pradeep Sharma, ED (Engg.), NBCC in the august presence of Shri Jitendra Gupta, DG DoP, Shri K.P. Mahadevaswamy, CMD, NBCC, Dr. Suman Kumar, Director(Commercial) NBCC and the senior officials from both side were also present. This ambitious move marks the beginning of a nationwide initiative to unlock the hidden value of prime government land parcels. With thousands of properties lying underutilized across the country, the Department of Posts has identified key sites—including Sarojini Nagar Postal Colony and Netaji Nagar Depot in the National capital—for immediate action. These locations will soon be buzzing with world-class infrastructure, commercial vitality and sustainable living. NBCC, a Navratna PSU renowned for delivering mega-value projects, will lead the charge. The project will roll out in two stages: first, an intensive feasibility study by top-tier consultants, followed by on-ground transformation of land parcels found fit for development. The entire initiative will run on a self-sustaining model, powered by revenue generated through the sale and lease of new built-up spaces without burdening the exchequer.
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