NBCC Sells 446 Noida Flats for Rs 14.68 Bn

21 May 2025 CW Team

State-owned NBCC (India) Ltd has successfully sold 446 apartments in Noida for a total value of Rs 14.68 billion, conducted via e-auction.

In a regulatory filing on Friday, NBCC confirmed the sale of 446 residential units at Aspire Silicon City, Phase IV, located in Sector 76, Noida, Uttar Pradesh. The total transaction amounted to approximately Rs 14.679 billion, and NBCC will earn a 1 per cent marketing fee on the sale value.

The sales are part of the broader directive issued by the Supreme Court, which established the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) to facilitate the completion of stalled housing projects previously undertaken by the Amrapali Group.

NBCC was appointed as the project manager to complete around 38,000 pending flats and deliver them to affected homebuyers. The proceeds from the e-auction will aid in accelerating project execution and repaying the debt incurred to finance construction.

This initiative not only advances housing delivery for long-waiting buyers but also reflects NBCC’s role in reviving stalled real estate developments through transparent and structured mechanisms.

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