AU Real Estate Acquires 446 Flats in Noida for Rs 1,468 Crore via NBCC E-Auction
AU Real Estate has acquired 446 flats in Noida through an e-auction conducted by NBCC for Rs 1,468 crore. The company plans to sell these units in the open market.
Real EstateNoidaEauctionNbccAu Real EstateReal Estate NewsMay 19, 2025
The project, known as 'Aspire Silicon City,' is located in Sector-76, Noida, Uttar Pradesh. The total saleable area of the project is 13.85 lakh square feet. The reserve price for the units was set at Rs 10,500 per square foot, and AU Real Estate acquired them at a slightly higher rate. The company plans to launch the project soon and sell the units in a staggered manner to maximize returns.
As per the terms of the acquisition, AU Real Estate will pay the total bid amount of Rs 1,468 crore to NBCC in a phased manner, which is linked to the progress of construction. The company is committed to completing the project and handing over the units to prospective customers, even if it faces challenges in selling them.
NBCC, in its regulatory filing, stated that the e-auction was conducted to complete the stuck projects of the erstwhile Amrapali Group. The Supreme Court directed the formation of Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) to complete 38,000 flats and hand them over to homebuyers. NBCC has been actively involved in selling apartments in bulk to complete these projects and repay outstanding debts.
The 'Aspire Silicon City' project, spread over 8.5 acres, comprises around 600 units. Out of these, 446 flats have been sold through the e-auction. NBCC has sold a total of 4,470 units across five projects through e-auction, generating Rs 9,700 crore. Other notable buyers include Gaurs Group, Mansan Builders, and Happy Valley Infra.
AU Real Estate, established in 2022, is rapidly expanding its presence in the Delhi-NCR region. The company is currently developing two projects in the area and is poised to become a significant player in the real estate market. This acquisition is a strategic move that positions AU Real Estate to capitalize on the growing demand for residential units in Noida.
The acquisition not only benefits AU Real Estate but also contributes to the overall development and completion of stalled projects in the region. It reflects the company's commitment to delivering quality housing solutions to homebuyers and investors. As the real estate market in Noida continues to grow, AU Real Estate is well-positioned to meet the increasing demand for residential properties.
Frequently Asked Questions
What is the total value of the e-auction for the 446 flats in Noida?
The total value of the e-auction for the 446 flats in Noida is Rs 1,468 crore.
Who is NBCC and what is their role in this acquisition?
NBCC (National Buildings Construction Corporation) is a state-owned enterprise tasked with completing stalled housing projects. They conducted the e-auction for the 446 flats in Noida.
What is the total saleable area of the 'Aspire Silicon City' project?
The total saleable area of the 'Aspire Silicon City' project is 13.85 lakh square feet.
How will AU Real Estate pay the bid amount to NBCC?
AU Real Estate will pay the total bid amount of Rs 1,468 crore to NBCC in a phased manner, linked to the progress of construction.
What are the other projects where NBCC has sold units through e-auction?
NBCC has sold units across five projects through e-auction, generating a total of Rs 9,700 crore. Other notable buyers include Gaurs Group, Mansan Builders, and Happy Valley Infra.
Related News Articles
Godrej Properties Leases 11-Acre Land in Pune for Ambitious Rs 1800 Crore Project
Godrej Properties has acquired an 11-acre land parcel in Hinjewadi, Pune, to develop a project worth Rs 1,800 crore, featuring group housing and high-street retail.
Ayodhya's Real Estate Boom: Fractional Ownership Platform Closes ₹10.40 Crore Land Deal
The Indian fractional ownership market is taking a leap forward, making high-value real estate accessible to a broader audience through fractional ownership and property tokenization.
Government Proposes LTCG Tax Amendment for Real Estate Transactions
The government has moved an amendment to the Finance Bill 2024, allowing taxpayers to choose between a 12.5% LTCG tax rate without indexation or a 20% rate with indexation for properties acquired before July 23, 2024.
SEBI Chief Madhabi Buch Faces Congress Ire Over Alleged Conflict of Interest
Congress accuses SEBI chairperson Madhabi Puri Buch of running her consultancy firm while in office, sparking conflict of interest concerns. Mahindra Group defends Buch's husband, Dhaval Buch, over payments received.
Analysts Question Dharma Productions' Valuation: One Movie Could Tip the Scales
After Adar Poonawalla's Serene Productions acquired a 50% stake in Dharma Productions, a prominent name in Bollywood, industry analysts are raising questions about its valuation. The recent financial performance of Dharma Productions has been under scruti
LTSU Takes a Leap with RESEED: Redefining Real Estate Education
Lamrin Tech Skills University (LTSU) recently celebrated the first convocation of its groundbreaking RESEED program, ensuring 100% placement for graduates in the real estate sector.