NBCC Nets Rs. 1,468 Crore by Selling 446 Noida Homes via E-Auction

Through an e-auction, the company sold 446 residential units at Aspire Silicon City, PH-IV in Sector-76, Noida, Uttar Pradesh, for a total estimated sale price of Rs. 1,467.93 crore, according to NBCC.

A marketing fee equal to one percent of the sale price will be paid to NBCC.

Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was established in response to the Supreme Court's directive to finish the Amrapali Group's stalled projects through NBCC (India).

The state-owned company was requested to finish 38,000 apartments and deliver them to purchasers.

With the help of the apartment e-auction, NBCC will be able to pay off the debt that was incurred in order to complete these projects.

Recently, 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 percent 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.