Maha: MoU signed between Mahapreet and NBCC for redevelopment of housing complexes in Mumbai

Mumbai, March 27 (IANS) A Memorandum of Understanding (MoU) was signed on Thursday between Mahatma Phule Renewable Energy and Infrastructure Technology Limited (Mahapreet) and NBCC (India) Limited, a Navratna company of the Union government under the Ministry of Housing and Urban Affairs, for the implementation of various infrastructure projects.

Under this MoU, Mahapreet and NBCC will collaborate to meet the housing needs of Mumbai city.

According to the state government release, NBCC (India) Limited is engaged in the field of large housing projects, construction of IT buildings, as well as conceptualisation, implementation and financing of infrastructure projects in the country and abroad.

On the other hand, Mahapreet is implementing PMAY and affordable housing projects in major projects like the Thane Cluster Development Project, Bhiwandi Municipal Corporation and Chandrapur Municipal Corporation.

Mahapreet will implement around 56 slum rehabilitation (SRA) projects in Mumbai. The Mumbai Metropolitan Region Development Authority and various private cooperative housing societies in Mumbai City, in particular, have been in talks with Mahapreet for the redevelopment of their areas.

Mahapreet is focusing on ESG compliance, adoption of clean and green energy norms, waste recycling, decarbonised materials, latest and eco-friendly resilient construction technologies, national eco-friendly standards, creation of employment opportunities for the weaker sections of the state and international standards for project monitoring.

Mahapreet is the leading company for the implementation of projects. Also, considering the benefits of expertise and skills of Mahapreet and NBCC (India) Limited, both the government agencies have decided to implement projects on the PMC (Project Management Consultancy) or EPC (Engineering Procurement Construction) basis on projects of common interest.

Mahapreet Managing Director Bipin Shrimali said: “The collaboration between NBCC and Mahapreet will help in redevelopment work and will provide an opportunity for the redevelopment of housing complexes. Also, since the central government agencies have the option to select developers, the redevelopment work will be done as per the rules of the state government.”

NBCC Chairman and Managing Director KP Mahadevswamy said, "With the joint collaboration of NBCC (India) Mumbai and Mahapreet, redevelopment projects will be implemented in the Mumbai area. Similar projects will also be jointly implemented in New Delhi and other states.”

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