NBCC Sells 446 Homes in Noida for Rs 1,468 Crore via E-Auction

State-owned NBCC (India) Ltd has successfully sold 446 apartments in Noida for Rs 1,468 crore through an e-auction. This move will aid in the completion of projects and repayment of debt.

Real EstateEauctionNbccNoidaHomebuyersReal EstateMay 16, 2025

NBCC Sells 446 Homes in Noida for Rs 1,468 Crore via E-Auction
Real Estate:New Delhi, May 16 (PTI) - State-owned NBCC (India) Ltd has sold 446 apartments in Noida for Rs 1,468 crore through e-auction. This significant sale is expected to provide a substantial boost to the company's efforts in completing projects and repaying the debt taken to finish these projects. In a regulatory filing on Friday, NBCC informed that the company has sold 446 residential units at Aspire Silicon City, PH-IV at Sector-76, Noida, Uttar Pradesh, through an e-auction, achieving a total sale value of approximately Rs 1,467.93 crore. NBCC will also receive a marketing fee of 1 per cent of the sale value, adding a small but significant revenue stream to its financials. The e-auction process was initiated as part of the Supreme Court's directive to form the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE). ASPIRE was established to complete the stuck projects of the Amrapali Group, a significant player in the real estate sector that faced financial difficulties. The state-owned firm was tasked with the completion of 38,000 flats and their subsequent handover to homebuyers. This move not only helps NBCC in financial terms but also ensures that homebuyers who have been waiting for their properties receive them in a timely manner. The successful e-auction of these apartments is a testament to the robust demand for residential units in Noida, a rapidly developing suburb of Delhi. It also highlights the effectiveness of e-auctions in facilitating transparent and efficient sales processes, especially in the real estate sector. NBCC's efforts in this regard are expected to set a precedent for the completion of other stalled projects and the resolution of financial issues in the real estate market. The company's proactive approach is likely to be appreciated by investors, homebuyers, and regulators alike. In conclusion, the sale of 446 apartments in Noida for Rs 1,468 crore through e-auction is a significant achievement for NBCC. It not only helps the company in completing projects and repaying debt but also ensures that homebuyers receive their long-awaited properties. This move is a win-win for all stakeholders involved.

Frequently Asked Questions

What is the total value of the apartments sold by NBCC in Noida? A: The total value of the 446 apartments sold by NBCC in Noida is approximately Rs 1,467.93 crore. Q: What is the role of ASPIRE in this project? A: ASPIRE, or Amrapali Stalled Projects Investments Reconstruction Establishment, was formed to complete the stuck projects of the Amrapali Group through NBCC (India). Q: How many flats was NBCC tasked with completing and handing over to homebuyers? A: NBCC was tasked with completing and handing over 38,000 flats to homebuyers. Q: What additional fee will NBCC receive from the sale of these apartments? A: NBCC will receive a marketing fee of 1 per cent of the sale value of the apartments. Q: Why was the e-auction process chosen for selling these apartments? A: The e-auction process was chosen for its transparency and efficiency, ensuring a fair and competitive sale of the apartments.

Answer not available

Related News Articles

Small Cities, Big Opportunities: How Tier-2 and Tier-3 Cities are Revolutionizing the Real Estate Market
real estate news

Small Cities, Big Opportunities: How Tier-2 and Tier-3 Cities are Revolutionizing the Real Estate Market

Mid-tier cities like Faridabad, Lucknow, Vrindavan, Ludhiana, Chandigarh, Indore, Dehradun, and Jaipur are becoming hotspots in the real estate market, offering a low-cost, peaceful life and high returns on investment.

September 21, 2024
Read Article
PM Modi to Launch Multiple Development Projects in Maharashtra Worth Over Rs 56,000 Crore
Real Estate Maharashtra

PM Modi to Launch Multiple Development Projects in Maharashtra Worth Over Rs 56,000 Crore

Prime Minister Narendra Modi will visit Maharashtra on Saturday to launch several development initiatives costing over Rs 56,000 crore, including the BKC-Aarey JVLR section of Mumbai Metro Line - 3 and various agricultural and animal husbandry projects.

October 4, 2024
Read Article
Cornell University: Klarman Fellow Reveals Insights on Housing Costs
real estate news

Cornell University: Klarman Fellow Reveals Insights on Housing Costs

A Klarman Fellow at Cornell University has conducted a groundbreaking analysis of housing costs, providing new insights into the factors affecting real estate development and the built environment. This research has significant implications for urban plan

November 2, 2024
Read Article
Mumbai Real Estate Projects Halted by New Environmental Clearance Order
Real Estate

Mumbai Real Estate Projects Halted by New Environmental Clearance Order

The real estate sector in Mumbai is experiencing significant disruptions due to a recent directive from the National Green Tribunal (NGT). This order has led to the suspension of nearly 200 projects in the Mumbai Metropolitan Region (MMR), causing delays

December 30, 2024
Read Article
Bhubaneswar: SJTA to Launch Online Platform for Land Settlements
Real Estate

Bhubaneswar: SJTA to Launch Online Platform for Land Settlements

Currently, individuals occupying temple lands submit manual applications to SJTA for property sale or transfer. This process is set to become more efficient with the launch of an online platform.

January 18, 2025
Read Article
Mumbai Property Registrations Show Strong Growth in February 2025
Real Estate

Mumbai Property Registrations Show Strong Growth in February 2025

Mumbai witnessed a significant rise in property registrations in February 2025, with 12,056 units registered, according to real estate consultant Knight Frank India. This growth indicates a robust market recovery and increased investor confidence in the c

February 28, 2025
Read Article