NBCC offloads 4,80,000 sq ft commercial area in Delhi for Rs 19.05 bn

29 Mar 2024 CW Team

NBCC (India) announced that it had successfully disposed of 4.8 lakh square feet of commercial space in South Delhi for Rs 19.05 billion on behalf of the government.

In the 25th e-auction for commercial space at World Trade Centre (WTC) in Nauroji Nagar there, NBCC claimed to have attained the highest sale realisation to date, having sold 4.8 lakh square feet of commercial space for Rs 19.05 billion.

It was mentioned that major organisations such as Power Finance Corporation, Security Printing and Minting Corporation of India, and Solar Energy Corporation of India were among those who acquired space during the e-auction.

It was further informed that out of the total area sold, approximately 4.38 lakh square feet, with a sale value of about Rs 17.40 billion, had been bought by public sector units (PSUs).

It was revealed that there were five successful bidders in total, three of which were PSU bidders, and two were private entities.

NBCC disclosed that as of the present date, it has managed to sell a total commercial space exceeding 30 lakh square feet through 25 e-auctions, with a total sale value exceeding Rs 121 billion.

The WTC project, considered a landmark development, has attracted prominent buyers from various industries. Progress on the project is reported to be advancing rapidly, with over 94 per cent of physical progress already achieved.

The redevelopment of the World Trade Centre into a commercial hub, boasting approximately 34 lakh square feet of commercial built-up area, is underway, replacing 628 old or dilapidated quarters.

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