NBCC Conducts Successful E-Auction of Amrapali Projects in Noida and Greater Noida

NBCC (India) Limited has successfully completed the e-auction of a total of 417 residential units at Amrapali Aspire Leisure Valley (2 Towers – 306 Flats), Greater Noida (West), Uttar Pradesh, and Aspire Silicon City (1 Tower – 111 Flats), Phase-IV, Sector-76, Noida, Uttar Pradesh. The e-auction achieved a total sales value of approximately ₹1,045.40 crore, reflecting strong market response and bids received above the reserve price. This high-value auction received an overwhelming response, with bids far exceeding the reserve price. The proceeds will be used to repay bank loans and mitigate the financing needs of ongoing projects.

This project, monitored by the Supreme Court, boasts state-of-the-art amenities and a strategic location, making it a popular investment opportunity. This sale will mark a significant milestone in completing stalled Amrapali projects and fulfill the dream of many homebuyers.

Till date, a total of 5,671 units have been sold through e-auction in the new FAR projects of Amrapali (Aspire Golf Homes, Aspire Centurion Park, Aspire Dream Valley, Aspire Leisure Park, Aspire Silicon City, and Aspire Leisure Valley), with a total saleable area of 153.72 lakh sq ft and a total highest bid price of ₹11,719.27 crore.

With this successful execution, NBCC has further strengthened its position as a leading real estate developer in India. It also holds the distinction of being the only Public Sector Undertaking (PSU) in this sector in India and has set a new standard for transparent and competitive property sales through a digital platform. The success of this e-auction is expected to further strengthen investor confidence in the sector and establish NBCC as a leading institution in the execution of distressed asset projects. It will also provide relief to thousands of affected homebuyers in Noida/Greater Noida (West), Uttar Pradesh.

The Supreme Court, in its judgment dated 23 July 2019, issued several directions towards ensuring steps and measures for the execution and completion of all pending projects of Amrapali. Cases of homebuyers awaiting the execution of tripartite agreements and those awaiting the completion of their projects have been dealt with by the Court. The directions issued by the Court relate to the steps to be taken by the Central Government, State Government, Noida and Greater Noida Authorities, NBCC, and various banks.

In terms of the above direction, the Receiver has been coordinating with various authorities towards processing, studying, and completing the task given to the Receiver.