NBCC Sells 609 Housing Units In Greater Noida Via Auction To AU Real Estate For ₹1,070 Cr

State-owned NBCC (India) Ltd has sold 609 housing units in Greater Noida (West) for ₹1,070 crore through an e-auction

Affordable Housing, Budget, Real Estate
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State-owned NBCC (India) Ltd has sold 609 housing units in Greater Noida (West) for ₹1,070 crore through an e-auction.

In a regulatory filing on Wednesday, the company informed that it has sold 609 residential units in two projects 'Aspire leisure valley' and Aspire Centurian Park through an e-auction at total sale value of ₹1,069.43 crore.

NBCC will get marketing fee at 1% of sale value. NBCC did not mention the name of the buyer.

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As per the direction of the Supreme Court, Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of Amrapali through the NBCC.

The state-owned firm was asked to complete 38,000 flats and hand them over to homebuyers. The investment to complete these flats was projected at around ₹8,300 crore.

Meanwhile, Delhi-based AU Real Estate said that it has acquired the selling rights for Aspire Leisure Valley (Phase 2) and Aspire Centurian Park from NBCC.

"The combined transaction value stands at ₹1,069 crore, covering a total of 609 residential units," the realty firm said in a statement.

The company has bought 462 units in 'Aspire Leisure Valley' project for ₹696.20 crore and 147 units in 'Aspire Centurian Park' project for ₹373.23 crore.

AU Real Estate Director Ashish Agarwal said the company has launched 'Aspire Leisure Valley' project at an introductory price of ₹7,979 per sq ft. 

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