(THE NEWSMAN OF INDIA.COM)

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 Parimal Sinha, DDG (Estates & MM, Department of Post(DoP) & Pradeep Sharma, ED (Engg.), NBCC in the august presence of Jitendra Gupta, DG DoP, 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.

This urban revamp will be governed by a transparent and accountable system. A joint escrow mechanism will manage funds, while a high-level Empowered Committee will oversee project approvals, pricing and progress monitoring. From energy-efficient buildings to smart infrastructure, the planned developments aim to set new benchmarks in green, inclusive and future-ready design.

Senior officials from both organizations have called the MoU a strategic masterstroke one that not only promises significant returns for the government but also breathes new life into forgotten corners of the country’s urban map. With over 6,465 land parcels under DoP’s ownership, including more than 1,460 lying vacant, this partnership holds the key to unlocking vast real estate potential.

From legacy to landmark, the journey has just begun. As India marches toward its vision of a developed nation by 2047, this historic pact between NBCC and the Department of Posts may well become one of its most defining success stories.