India, Sept. 22 -- In a statement on September 22, NBCC said it has signed a Memorandum of Understanding (MoU) with the Housing and Urban Development Corporation Ltd (HUDCO) to "execute transformative development projects in Panchkula, Kaushambi, Ahmedabad and New Delhi."

State-owned NBCC (India) Ltd has signed an initial pact with HUDCO to develop projects worth Rs.117 crore, the statement said. The MoU was signed by Sanjay Kulshrestha, chairman and managing director of HUDCO, and K P Mahadevaswamy, chairman and managing director of NBCC.

Under the agreement, NBCC will develop a commercial complex at Kaushambi in Ghaziabad, redevelop HUDCO's land parcel in Panchkula, construct new blocks at HUDCO's regional office in Ahmedabad, and rec...