NBCC Resolves Dispute With Delhi Govt, Secures 21 Acres for ₹8,500-Crore Project.

State-owned NBCC recently announced that it will receive a 21.23-acre land parcel in south Delhi following the settlement of a long-standing dispute with the Delhi government. The company plans to develop a mixed-use real estate project on the site, with estimated revenue of around ₹8,500 crore.

As part of the settlement, NBCC will pay ₹220 crore to the Delhi government.

In a regulatory filing, NBCC said that an agreement has been reached with the Government of the National Capital Territory of Delhi (GNCTD) to resolve litigation related to a 42.46-acre land parcel located in Sultanpur/Ghitorni village. Under the terms of the settlement, the land will be equally divided between NBCC and the Delhi government, with each party receiving 21.23 acres.