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NBCC (India) signs MoU with Rashtriya Ispat Nigam

Capital Market 

For redevelopment and monetization of land at Maddilapalem, Visakhapatnam

NBCC (India) has executed a MoU with Rashtriya Ispat Nigam (RINL) for redevelopment and monetization of 22.19 acres of Land Parcels at Maddilapalem, Visakhapatnam on 26 February 2021 on self sustainable model.

NBCC shall be paid Project Management Consultancy (PMC) fee @7% of the estimated/approved project cost or actual project cost (whichever is lower).

NBCC shall also be paid Project Marketing fee @1% of actual sale proceeds on account of expenditure towards appointment of real estate consultant, publicity, marketing, sale etc of commercial and residential spaces.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, March 04 2021. 17:13 IST