NBCC Sells Aspire Silicon City Units for ₹1,467.93 Crore via E-Auction in Noida

State-owned National Buildings Construction Corporation has auctioned all 446 unsold units at Aspire, the residential project of the defunct Amrapali Group, in Noida and raised ₹1,467.93 Crore. The e-auction received a good response, indicating strong demand for residential properties in the Noida region, which forms the periphery of the National Capital Region (NCR).

This is in continuation of the monetization of these housing assets by the NBCC in line with the Company’s approach to optimize the utilization of its assets and revenue generation through disposal of non-core assets.

The successful bid reaffirms NBCC’s commitment to meet growing urban housing needs in the country and will help the company in cementing its role in executing such projects besides giving a fillip to the residential segment of the real estate sector that has been facing a huge slowdown in demand.

The funds from the auction, it is anticipated, would further improve the financials of NBCC and thus, boost its investment in construction projects, which will help the firm maintain higher trajectory of growth.

NBCC (India) Limited, formerly National Buildings Construction Corporation Ltd, is a PSU under the Ministry of Housing and Urban Affairs, Government of India. NBCC’s corporate office is located at New Delhi, India and it has 31 regional offices across India.

For feedback and suggestions, write to us at [email protected]