New Delhi, May 16:
State-run NBCC (India) Ltd has successfully sold 446 residential units in Noida through an e-auction, generating a total of ₹1,468 crore. The sale took place at Aspire Silicon City, Phase IV, located in Sector-76, Noida, Uttar Pradesh.

In a regulatory filing dated May 16, NBCC confirmed the e-auction and stated it will earn a 1% marketing fee on the transaction value. This marks a significant development in the ongoing efforts to revive stalled real estate projects linked to the defunct Amrapali Group.

Under directives from the Supreme Court, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was created to facilitate the completion of thousands of abandoned housing units. NBCC was appointed to execute this massive task, which involves completing around 38,000 pending flats and handing them over to homebuyers.

The successful e-auction will not only assist NBCC in pushing forward with construction but will also aid in repaying debts incurred to finance the revival of these long-delayed projects.

Knowledge Source : https://www.hindustantimes.com/real-estate/nbcc-sells-446-homes-for-rs-1-468-cr-in-noida-via-eauction-101747408332527.html