NBCC Gree View society in Sector 37D, Gurugram has been in the news after Gurugram deputy commissioner Nishant Kumar Yadav asked the residents to vacate the property in two weeks, citing the safety issues. “The NBCC surveyed its society and it was found that the building is unsafe and should be vacated by March 1. The NBCC will bear the cost of shifting the residents,” Nishant Yadav, Gurugram district collector said on February 17.
The 18-acre housing project of National Buildings Construction Corporation (India) Limited, a blue-chip Government of India Navratna enterprise, was completed in 2017. The society has a total of 784 flats. So far around 260 flats have been sold. Within months of moving into their new flats, the residents started noticing cracks in the ceelings and walls. The walls exposing the rusted iron rods beneath them will be the first thing you notice the moment you would enter the society. It is unimaginable how a society became unsafe for living within just four years of constuction, said a resident.
Residents blamed the developer NBCC for poor construction of the flat. “We often hear stories about private builders cheating or developing poor quality houses and this was the reason we trusted NBCC and now look at us,” said Basab Dasgupta, another resident.
What is NBCC?
NBCC or National Buildings Construction Corporation is a blue-chip company owned by the Government of India. It comes under ministry of housing and urban affairs. From developing residential projects to building hospitals, roads and TV towers, it has diverse experience in construction and development. It is also one of the key participants in some of the Government of India’s flagship schemes such as ‘Housing for All by 2022’, ‘Smart Cities Mission’, ‘Namami Gange’, ‘Swachha Bharat Mission’ and ‘Digital India’.
How Does NBCC Fund and Manage Projects?
The NBCC plans to cover a portion of the construction expenditure pegged at Rs 43,650 crore from the dues of the homebuyers, estimated at around Rs 4,000 crore, which they are expected to pay within the next three months. The remaining charges will be covered by auctioning off the assets of the builders in question. Further, the NBCC shall build a sample flat in every project to allay the fears of homebuyers about its competence in taking care of the premium projects, informs Jain.
What are the Functions of NBCC?
Project management consultation vertical involves supervision of the engineering projects so that the entire process, as well as the end product, suits the requirements of the respective client. The Centre assigns any delayed or incomplete residential, commercial or infrastructure projects to the NBCC.
Another vertical of the NBCC is engineering procurement and construction (EPC), the NBCC carries out functions such as project conceptualisation, feasibility studies, preparing Detailed Project Reports (DPR), tender specifications, basic and detailed engineering, review of projects, drawing building plans, commissioning and testing, and handing the project over to clients after completion.
The corporation takes up development of residential, commercial and institutional projects on the Centre’s advice, and also enters into joint ventures to fill any gap with respect to the completion of these projects. It develops residential and commercial properties at competitive rates so that agencies that bid for tenders of these properties can get sufficient returns on their investments.
Other facets of property development that the NBCC takes care of are ensuring the highest standards of quality, prescribing to environmental and safety standards and maintaining a healthy cash flow for the corporation itself in case emergency funds are needed for completing private sector projects.
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