In a landmark real estate transaction, NBCC (India) Ltd. has successfully e-auctioned 1185 residential units at Aspire Dream Valley, Greater Noida (W) through an e-auction, garnering a total sale value of Rs. 1504.69 cr. The high-stakes auction witnessed an overwhelming response, with bids significantly exceeding the reserve price. The fund shall mitigate the fund requirement of ongoing projects including bank loan payment.
The Dream Valley project, a Hon’ble Supreme Court-monitored project, is known for its state-of-the-art amenities and strategic location, making it a sought-after investment opportunity. This sale will be instrumental in completion of the stalled Amrapali Projects and fulfil the dreams of owning their homes by many home buyers. The generated fund shall also be able to reduce the piling up of stalled projects of Noida/Gr.Noida substantially once the existing units get completed.
With this successful transaction, NBCC has reinforced its position as a leading real estate developer and the only PSU in the sector in India setting a new benchmark for transparent and competitive property sales through digital platform. It is believed that this e-auction success will further bolster investor confidence in the sector and establish NBCC as a pioneer in executing stressed asset projects and bringing relief to thousands of affected homebuyers of Noida/Gr.Noida.
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