National Buildings Construction Corporation Ltd (NBCC) is currently developing an e-commerce enabled government-to-government portal to assist public agencies in procurement and management of real estate requirements, its Chairman and Managing Director AK Mittal said.

“The portal, which will be launched in mid-November, will enable booking and payments for properties, online storage of all transaction details. Buyers interested in NBCC projects or even properties by State development authorities can log in on the platform. We will also list homes by private builders after due diligence,” he said.

In the next 1-2 years, half a million properties will be listed on the portal, Mittal said at a press conference here after theannual general meeting.

Delivery on time On why would a public sector body enter the online real estate space, he said, “There is always apprehension with private developers and private portals…there is no authenticity, no reliability. We are a public sector company with responsibilities. Anyone who is coming on NBCC portal can be assured that property will be delivered on time.”

The company registered 15 per cent growth in turnover from ₹4,038 crore to ₹4,633 crore. At present, NBCC’s outstanding order book stands at over ₹25,000 crore. It is in advanced stages of rolling out a housing scheme with various stakeholder-agencies of the Government to provide affordable housing to poor, Mittal said.

The company is in final stage of discussions with Ministry of Urban Development for redevelopment of six GPRA colonies. It will also redevelop the Bhubaneswar railway station and two residential colonies in Odisha.

The company has signed MoUs with firms in Malaysia and Korea for smart city projects. It has tied up with IBM for knowledge sharing and is also in talks with CISCO for the same.

NBCC recently also set up a subsidiary in Oman ‘NBCC Gulf’ to carry out commercial construction activities and explore opportunities in Oman as well as Gulf region.

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