RDB Real Estate Constructions Limited Awarded Contract for Iconic Wellness Center Project
RDB Real Estate Constructions Limited announced today, March 20, 2026, that it has been awarded a contract by the Nava Raipur Atal Nagar Vikas Pradhikaran for the development of an Iconic Wellness Center Project in Sector 39, Nava Raipur Atal Nagar. The project encompasses an area of approximately 21.6127 acres (87,463.3123 sq.mt).The award follows RDB Real Estate Constructions Limited's successful bid for the project, which involved a Land Premium of INR 3330.00 per sq. mt, totaling INR 29,12,52,830. The tender was initially issued on October 24, 2025, with a System Tender No.: 178127.
According to the Notice of Award, RDB Real Estate Constructions Limited must deposit 100% of the accepted Land Premium, less the Earnest Money Deposit (EMD) amounting to INR 26,31,52,830, or a 25% installment with an EMD of INR 4,47,13,208, within 90 days. Failure to meet this condition may require a Bank Guarantee for the balance Land Premium.
The land will be transferred on a leasehold basis for 30 years, with potential extensions for two additional 30-year periods. The company is required to execute a Lease Agreement within 90 days of the award date. A 2% annual charge will be levied for any delays in signing the agreement.
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