NBCC Sells 111 Amrapali Linked Flats In Noida For Rs 4,165.3 Mn
Real Estate

NBCC Sells 111 Amrapali Linked Flats In Noida For Rs 4,165.3 Mn

National Buildings Construction Corporation (India) Limited (NBCC) said it sold 111 residential units at Aspire Silicon City in Noida through an e-auction for a total sale value of about Rs 4,165.3 mn. The state-owned firm indicated the transaction completed on Tuesday and forms part of its mandate to deliver completed housing to affected buyers. NBCC is engaged in project management consultancy and real estate development and will retain a marketing fee equal to one per cent of the sale value.

In a regulatory filing the company reported the details of the e-auction and reiterated that the units are located in Uttar Pradesh's Noida. The sale proceeds will be used in ongoing completion and handover activities and to manage obligations linked to the acquired projects. The company noted the marketing fee will be applied in line with its stated terms.

The transaction is part of NBCC's role in completing stalled Amrapali projects under the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), which was formed following a Supreme Court direction. NBCC was tasked with completing 38,000 flats and handing them over to homebuyers and has continued work across multiple sites to meet those commitments.

Beyond the originally assigned units NBCC is developing more than 10,000 apartments across five ongoing Amrapali projects in Greater Noida. In November last year NBCC sold 609 residential units in Greater Noida (West) through an e-auction for approximately Rs 10,694.3 mn, with the company saying the units were part of Aspire Leisure Valley and Aspire Centurian Park and that Delhi-based AU Real Estate subsequently acquired the selling rights for those two projects. The company said the recent transactions aim to accelerate possession timelines and reduce the backlog for homebuyers. NBCC also indicated it is coordinating with authorities and customer groups to expedite handovers while managing project completion schedules.

National Buildings Construction Corporation (India) Limited (NBCC) said it sold 111 residential units at Aspire Silicon City in Noida through an e-auction for a total sale value of about Rs 4,165.3 mn. The state-owned firm indicated the transaction completed on Tuesday and forms part of its mandate to deliver completed housing to affected buyers. NBCC is engaged in project management consultancy and real estate development and will retain a marketing fee equal to one per cent of the sale value. In a regulatory filing the company reported the details of the e-auction and reiterated that the units are located in Uttar Pradesh's Noida. The sale proceeds will be used in ongoing completion and handover activities and to manage obligations linked to the acquired projects. The company noted the marketing fee will be applied in line with its stated terms. The transaction is part of NBCC's role in completing stalled Amrapali projects under the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), which was formed following a Supreme Court direction. NBCC was tasked with completing 38,000 flats and handing them over to homebuyers and has continued work across multiple sites to meet those commitments. Beyond the originally assigned units NBCC is developing more than 10,000 apartments across five ongoing Amrapali projects in Greater Noida. In November last year NBCC sold 609 residential units in Greater Noida (West) through an e-auction for approximately Rs 10,694.3 mn, with the company saying the units were part of Aspire Leisure Valley and Aspire Centurian Park and that Delhi-based AU Real Estate subsequently acquired the selling rights for those two projects. The company said the recent transactions aim to accelerate possession timelines and reduce the backlog for homebuyers. NBCC also indicated it is coordinating with authorities and customer groups to expedite handovers while managing project completion schedules.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Modi Urges End-to-End Reforms for Infrastructure Projects

Prime Minister Narendra Modi on Tuesday called for continuous reforms across all stages of infrastructure project execution during the 53rd PRAGATI meeting. He asked ministries and state governments to adopt an end-to-end approach and a proactive work culture to ensure timely delivery. The meeting reviewed six key infrastructure projects in the railway, road and power sectors across nine states with a cumulative investment of Rs 300 billion (Rs 300 bn). Officials assessed projects on timelines, inter-agency coordination and resolution of pending issues. He said infrastructure projects should b..

Next Story
Infrastructure Transport

GMR Airports Plans US$2 bn Expansion In Delhi And Hyderabad

GMR Airports plans a US$2 billion (bn) expansion of facilities at New Delhi and Hyderabad as part of a major modernisation drive. Hyderabad’s upgraded airport will be able to accommodate about 80 million (mn) passengers a year, more than double its current annual volume of 34 mn fliers. The company is India’s largest airport operator by number of fliers annually, while rival Adani Airport Holdings Ltd is the biggest by number of airports and is reported to be looking to invest US$15 bn to boost passenger capacity over the next five years. Executives indicated the build-outs in New Delhi an..

Next Story
Infrastructure Transport

Mumbai Airport to Demolish Part of Terminal One From 15 January

Adani Group-operated Mumbai International Airport (MIAL) will begin partial demolition of the north section of Terminal one-B at Chatrapati Shivaji Maharaj International Airport from 15 January 2027, according to a letter to the civil aviation ministry. The operator has begun redistributing air traffic to Terminal two and to Navi Mumbai International Airport to facilitate the work. The airport, managed by Mumbai International Airport, currently has a capacity of over 50 million (mn) passengers and handles over 950 flight movements daily. Terminal one is nearly 80 years old and parts of it have..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement