SRINAGAR: In response to the growing demand for affordable housing and the ongoing expansion of Srinagar city, the Srinagar Development Authority (SDA) has unveiled plans to develop a Satellite Township in the north-western outskirts of the city, a DIPR statement said. The new township will span 2950 kanals (369 acres) at Rakh Gund Akshah and is strategically located near the upcoming Medi City and High Court Complex.
The township will be a comprehensive development featuring residential neighbourhoods, commercial and business centres, offices, and recreational facilities. A key component of the project is the provision for 428 auctioned plots, which have already been committed by the SDA.
To ensure the seamless and successful execution of the project, the SDA signed a Memorandum of Understanding (MoU) with the National Buildings Construction Corporation (NBCC) on August 8, 2024. The MoU, signed by Dr Owais Ahmed, Vice Chairman of SDA, and an Executive Director from NBCC, marks the commencement of the detailed planning phase for the project. The signing was witnessed by key officials, including Mandeep Kaur, Commissioner/Secretary of Housing and Urban Development Department of Jammu and Kashmir; Ravi Arora, Joint Secretary of the Ministry of Housing and Urban Affairs, Government of India; and K P Mahadevaswamy, Chairman and Managing Director of NBCC.
The MoU outlines the role of NBCC in the planning phase, including the preparation of Detailed Project Reports (DPRs), project cost assessments, and other essential details. It is important to note that while NBCC has not yet been awarded the contract for the execution of the project, their financial role, including Project Management Consultancy (PMC) charges, will be determined upon the acceptance of their submitted DPRs and project details by the competent authorities.
Should the proposal be accepted, NBCC, under the supervision of SDA, will take on the responsibility for the execution of the project. This includes overseeing planning, construction, and development within agreed timelines, ensuring cost optimization, and adhering to public commitments. The actual construction will be carried out through a tendering process.
During the project’s execution, NBCC will ensure compliance with national standards and guidelines as recommended by the Ministry of Housing and Urban Affairs (MoHUA). Additionally, NBCC will assist SDA in generating the necessary funds for the project through the sale of land parcels and built-up areas. The project is slated to be completed in a phased manner within five years from the date of commencement.
NBCC is expected to submit a detailed scope of work, including a payment schedule linked to deliverables, within one month of the MoU signing. The project is the first of its kind in the region and aims to offer significant benefits by providing affordable housing options for all income groups. Notably, NBCC’s preliminary proposal includes allocating 15 per cent of the residential component for the development of around 3,200 affordable houses under the ‘Housing for All’ initiative.
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