NBCC Sells 1,233 Flats in Greater Noida for ₹3,217 Crore to Fund Amrapali Projects
State-owned NBCC has successfully sold 1,233 residential units in Greater Noida through an e-auction, raising ₹3,216.95 crore. The funds will help complete the stalled projects of the Amrapali Group and reduce the backlog of incomplete homes in Noida and
NbccAmrapaliGreater NoidaAspire Gold HomesEauctionReal Estate NewsFeb 11, 2025
The sale, conducted through an e-auction, will play a crucial role in completing the stalled projects of the Amrapali Group, as per the directive of the Supreme Court.
Information
Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed under the Supreme Court's direction to complete the stuck projects of Amrapali.
NBCC, a Navratna PSU, was tasked with the responsibility of completing 38,000 flats and handing them over to homebuyers.
The Greater Noida Industrial Development Authority (GNIDA) granted NBCC permission to develop 75 acres of unused land in five existing residential projects of Amrapali, which will have more than 8,000 units in total.
Aspire Gold Homes Project
The project, named 'Aspire Gold Homes,' consists of 1,507 flats across 11 towers.
NBCC had previously sold 274 units, and this latest e-auction has successfully sold 1,233 more.
The auction saw an overwhelming response, with bids significantly exceeding the reserve price.
Frequently Asked Questions
What is the total number of flats sold by NBCC in Greater Noida?
NBCC has sold 1,233 residential units in the Aspire Gold Homes project in Greater Noida.
How much revenue did the e-auction generate?
The e-auction generated a total sale value of ₹3,216.95 crore, excluding allied charges.
What is the purpose of the funds generated from the auction?
The funds will be used to complete the stalled projects of the Amrapali Group and fulfill the housing needs of many homebuyers.
How many total units are there in the Aspire Gold Homes project?
The Aspire Gold Homes project consists of 1,507 flats across 11 towers.
What is the role of ASPIRE in this project?
ASPIRE (Amrapali Stalled Projects Investments Reconstruction Establishment) was formed under the Supreme Court's direction to complete the stuck projects of Amrapali through NBCC.
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