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State-owned NBCC (India) Ltd has sold 111 residential units at Aspire Silicon City in Noida through an e-auction for around INR 416.53 crore. The company, which operates in project management consultancy and real estate, will receive a 1% marketing fee on the sale value. The auction is part of NBCC’s wider role in completing stalled Amrapali projects under a Supreme Court-directed framework. NBCC has been tasked with completing around 38,000 flats for homebuyers and is also developing more than 10,000 additional apartments across five Amrapali projects in Greater Noida.
NBCC (India) Ltd has sold 111 residential units at Aspire Silicon City in Noida, Uttar Pradesh, through an e-auction for a total sale value of around INR 416.53 crore.
The state-owned company, which is engaged in project management consultancy and real estate, will receive a marketing fee equivalent to 1% of the sale value from the transaction.
The sale is part of the larger redevelopment and completion programme for stalled Amrapali housing projects. Following directions from the Supreme Court, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to facilitate the completion of these projects through NBCC.
NBCC was tasked with completing around 38,000 flats and handing them over to the affected homebuyers. The company has been working on multiple stalled Amrapali projects across Noida and Greater Noida as part of this mandate.
In addition to completing the pending 38,000 units, NBCC is developing more than 10,000 apartments across five ongoing Amrapali projects in Greater Noida. The additional construction became possible after the local authority permitted development on unused land parcels within these projects.
The latest e-auction at Aspire Silicon City adds to NBCC’s ongoing efforts to monetise available housing inventory while progressing work on the larger portfolio of stalled Amrapali developments.
Source PTI
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