In view of expansion of Srinagar city and rising demand for affordable housing, SDA is developing a Satellite Township over an area of 2950 kanals (369 acres) at Rakh Gund Akshah in the north-western outskirts of Srinagar city which will include provision for 428 auctioned plots committed by SDA. The Project site is located adjacent to upcoming Medi City and High Court Complex. The township will have residential neighbourhoods, commercial & business centres, offices, recreational facilities etc. Further, for successful and seamless execution of the said project, SDA on 8th August, 2024 signed MoU with NBCC for detailed planning and providing DPRs, project details including project cost for the project. The MoU was signed by Vice Chiarman, SDA, Dr. Owais Ahmed and Executive Director (Eng), NBCC in the presence of Ms Mandeep Kaur, Commissioner/Secretary to Government, Housing and Urban Development Department, Jammu and Kashmir, Mr Ravi Arora, Joint Secretary, Ministry of Housing and Urban Affairs, GOI and Sh K P Mahadevaswamy CMD NBCC.
It is pertinent to mention NBCC has not been awarded contract for execution of project as of now, rather the project is at the stage of planning. The financial role of NBCC including PMC charges will be finalized once the DPRs and project details submitted by the NBCC are accepted by competent authority. Once the proposal of NBCC is accepted, the Public Sector Enterprise under supervision of SDA will be responsible for the execution of the said project which includes planning, construction and development works within agreed timelines and will provide a diligent support system to SDA for cost optimization, adherence to project timelines and upholding public commitments. Construction of the project will be executed through tendering process.
During execution of project, NBCC shall ensure compliance to national standards and guidelines as per recommendations of MoHUA. NBCC will assist SDA in generation of funds for the said project, that will be through the sale of land parcel(s) and built-up area. The project shall be completed in a ‘phased manner’ within a period of five years from the date of commencement. The NBCC, in this regard, will submit a detailed scope of work as per agreed timelines, schedule of payment viz-a-viz deliverables within a period of one month from the date of signing of MoU. The project is first of its kind and will have large-scale benefits in terms of affordable housing for all income groups. The NBCC's preliminary proposal includes using 15% of the residential component for development and developing around 3200 affordable houses under “Housing for All” initiative.