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.

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