Amid its mounting financial challenges, the Chandigarh municipal corporation (MC) is looking to generate revenue by developing a residential project in Manimajra’s Shivalik Enclave area, in partnership with the National Buildings Construction Corporation (NBCC). In 2005, the Chandigarh MC had sold a 5.39-acre plot in Manimajra for a similar housing society on freehold basis. (HT File) The project is to come up on a 6.9-acre land parcel in Pocket 6 of Manimajra, which has been earmarked for residential development under the Chandigarh Master Plan. While the MC is considering auctioning the vacant land with a reserve price of ₹300 crore — expected to fetch at least ₹500 crore — officials say that partnering with NBCC on a revenue-sharing model could potentially double the civic body’s profit. NBCC (India) Limited, a Navratna public sector enterprise under the Union ministry of housing and urban affairs, specialises in project management consultancy, engineering-procurement-construction (EPC), and real estate development. If roped in, NBCC will undertake the construction and development of the proposed society, in return for a share in revenue …