Letter of Award to NBCC for Re-development of AIIMS Western Campus & Ayurvigyan Nagar, New Delhi

• Security Code: 534309
• Company: NBCC

National Buildings Construction Corporation Ltd has informed BSE that all India Institute of Medical Sciences (AIIMS) has issued letter of award dated November 23, 2015 to NBCC for the re-development of AIIMS Western Campus & Ayurvigyan Nagar, New Delhi involving construction of 3000 flats in 2.5 years time with the financial implication of Rs. 5828 crore. The revenue generation for commercial viability of the project would be met by selling 10 percent of area.

NBCC would be charging 10 percent of the final project cost as PMC fee and 1 percent for the marketing expenses on total fund realization from the sale/lease of built up area.

This proposal has been duly recommended in -principle by the Standing Finance Committee of AIIMS in its 209th meeting. MOU with NBCC will be signed after the project approval by the Union Cabinet.

Letter of award dated November 23, 2015 will enable NBCC to take-up the proposal for further perusal and expedite the formulation of cabinet note in this regard.