NBCC clocks Rs. 1,504 Crore by Selling 1,185 Homes in Aspire Dream Valley Project

Through an e-auction in Greater Noida, NBCC, the government's construction agency, said that 1,185 residential units were sold for Rs. 1,504.69 crore.

According to the statement, the sale would assist finish the Amrapali Projects, which have been put on hold, and fulfill the aspirations of homebuyers.

The business stated in a regulatory filing that it would get a marketing charge equal to 1% of the sale price as part of the deal. The sale was carried out in the "regular course of business of the company," according to the statement.

The Dream Valley initiative is under the supervision of the Supreme Court. The Amrapali projects that have stalled will be completed in large part thanks to this transaction. Once the current units are finished, the generated funds would also be able to significantly reduce the backlog of stalled projects in Noida and Gr. Noida, the business stated in a statement.

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 crore. 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 company said in a statement