• The auction realised a sale of Rs 1467.93 crore
• Total sale price of Rs 9695.85 crore was realised through e-auction of 5 projects
NBCC (India) Limited successfully concluded the e-auction of 446 residential units with 13.84 lakh sq. ft. saleable area at Aspire Silicon City, Noida, achieving a total sale price of Rs. 1467.93crore. The high-stakes auction received an overwhelming response with bids well above the reserve price. The funds will go towards repayment of bank loans as well as reducing the funding requirement of ongoing projects.
A project monitored by the Hon'ble Supreme Court, Aspire Silicon City project has state-of-the-art facilities and strategic location making it a popular investment opportunity. This sale will prove to be a milestone in completing the stalled Amrapali projects and will fulfill the dream of many homebuyers to own a home.
Till date, e-auctions have been completed for 5 new FAR projects of Amrapali (Aspire Golf Homes, Aspire Centurion Park, Aspire Dream Valley, Aspire Leisure Park and Aspire Silicon City) comprising a total of 4470 residential units (saleable area of 11.874 million sq. ft.) with a total sale value of Rs. 9695.85 crore.
With this successful transaction, NBCC has strengthened its position as a leading real estate developer in India and also holds the distinction of being the only PSU in this sector in India and has set a new benchmark for transparent and competitive property sales through a digital platform. It is believed that the success of this e-auction will further boost investor confidence in the sector and establish NBCC as a leader in the execution of distressed asset projects and bring relief to thousands of affected home buyers of Noida/Greater Noida (West), Uttar Pradesh.
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