NBCC Successfully Auctions 417 Amrapali Flats in Noida and Greater Noida for ₹1,045 Crore
The National Buildings Construction Corporation (NBCC) has successfully completed an electronic auction for 417 residential units from stalled Amrapali Group projects in Noida and Greater Noida. The auction, which generated a total sales value of ₹1,045.40 crore, is a significant milestone in resolving one of India's largest real estate disputes.
The units were sold from two key projects: Aspire Leisure Valley in Greater Noida (W) and Aspire Silicon City in Noida. NBCC will earn a 1% marketing fee from the total sale value, which will be used to further support the project completion initiative.
This sale is part of the Supreme Court-mandated ASPIRE (Amrapali Stalled Projects Investments Reconstruction Establishment) initiative, under which NBCC is tasked with completing and delivering 38,000 flats to homebuyers who had invested in various Amrapali projects. The current auction represents a significant step toward fulfilling this substantial commitment to affected homebuyers.
Beyond the core mandate of completing 38,000 units, NBCC has expanded its involvement in the Amrapali resolution process. The company is currently developing more than 10,000 additional apartments across five ongoing Amrapali projects in Greater Noida, following approval from local authorities to utilize previously unused land parcels. This expanded development scope serves a dual purpose: maximizing the utilization of available land resources, generating additional revenue to finance construction costs for the mandated project completions, and providing more housing options in the Greater Noida region.
Strategically, NBCC, which operates in both project management consultancy (PMC) and real estate development, is leveraging the revenue generated from these additional unit sales to finance the construction costs of completing the original 38,000 units. This self-financing model helps ensure the sustainability of the project completion initiative while minimizing the financial burden on the company. The successful auction demonstrates NBCC's ability to execute large-scale real estate transactions and manage complex project portfolios under challenging circumstances. The 1% marketing fee structure provides the company with additional revenue while maintaining focus on the primary objective of completing stalled projects for affected homebuyers.
The successful completion of this e-auction reinforces NBCC's position as a major player in India's construction and real estate sector. The electronic auction format enabled efficient price discovery and transparent bidding processes for potential homebuyers. This transaction was conducted in the normal course of business, highlighting the company's ongoing efforts to systematically monetize its real estate portfolio.
The completion of the e-auction process across these two flagship projects marks another significant step in NBCC's real estate operations, demonstrating the company's ability to execute large-scale residential sales in key metropolitan markets. The strong market demand for residential properties in these prime National Capital Region locations underscores the strategic importance of these developments.
