NBCC sells 446 homes for ₹1,468 cr in Noida via e-auction

New Delhi, May 16 (PTI) State-owned NBCC (India) Ltd has sold 446 apartments in Noida for ₹1,468 crore through e-auction.

In a regulatory filing on May 16, NBCC informed that the company has sold 446 residential units at Aspire Silicon City, PH-IV at Sector-76, Noida, Uttar Pradesh, through an e-auction at a total sale value of approximately ₹1,467.93 crore.

NBCC will get a marketing fee of 1 per cent of the sale value.

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

The state-owned firm was asked to complete 38,000 flats and hand it over to homebuyers.

The e-auction of apartments will help NBCC in the completion of projects and repayment of debt, which was taken to finish these projects.