NBCC Sells 1,233 Flats in Greater Noida for ₹3,217 Crore, Funds to Complete Amrapali Projects
NBCC, the state-owned real estate company, successfully sold 1,233 flats in Greater Noida, generating a sale value of ₹3,217 crore. The funds will be used to complete the stalled projects of the Amrapali Group.
NbccGreater NoidaAmrapali ProjectsReal EstateEauctionReal Estate NewsFeb 11, 2025
The project, known as Aspire Golf Homes, has garnered a total sale value of ₹3,216.95 crore excluding allied charges.
This significant sale will help NBCC complete the stalled projects of the Amrapali Group, as directed by the Supreme Court.
As per the direction of the Supreme Court, Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of Amrapali through NBCC (India) Ltd.
NBCC has been tasked with completing 38,000 flats and handing them over to homebuyers.
The project 'Aspire Gold Homes' consists of 1,507 flats across 11 towers.
NBCC had previously sold 274 units, and this recent auction brings the total number of units sold to 1,507.
The auction witnessed a high level of interest, with bids significantly exceeding the reserve price.
The funds generated from this sale will be crucial in mitigating the funding requirements for ongoing projects, including bank loan payments.
This will help in the completion of the stalled Amrapali projects, fulfilling the dreams of many homebuyers.
NBCC stated, 'The generated fund shall also reduce the piling up of stalled projects in Noida and Greater Noida once the existing units are completed.' Last year, the Greater Noida Industrial Development Authority gave NBCC permission to develop 75 acres of unused land in five existing residential projects of Amrapali.
These projects will include more than 8,000 units in total, with Aspire Gold Homes being the first project launched by the company.
NBCC, a public sector undertaking, is committed to revitalizing the real estate sector and ensuring the timely completion of projects.
The company's successful e-auction is a testament to its ability to implement large-scale projects efficiently and transparently.
Frequently Asked Questions
What is the total number of flats sold by NBCC in Greater Noida?
NBCC has sold a total of 1,233 flats in Greater Noida through an e-auction.
What is the total sale value of the flats sold by NBCC?
The total sale value of the flats sold by NBCC is ₹3,216.95 crore, excluding allied charges.
What is the name of the project where NBCC sold the flats?
The project where NBCC sold the flats is called Aspire Golf Homes.
How many flats are there in total in the Aspire Golf Homes project?
The Aspire Golf Homes project has a total of 1,507 flats across 11 towers.
What is the purpose of the funds generated from the sale of flats?
The funds generated from the sale of flats will be used to complete the stalled Amrapali projects and mitigate the funding requirements for ongoing projects, including bank loan payments.
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