NBCC sells 111 flats in Noida via auction for Rs 417 crore

New Delhi: State-owned NBCC (India) Limited on Tuesday said that it has sold out 111 residential units in Noida through e-auction for Rs 416.53 crore.

In a regulatory filing to the stock exchnages, NBCC informed that it has "sold 111 residential units at Aspire Silicon City, at Noida, Uttar Pradesh through an e-auction at the total sale value of approx. Rs 416.53 crores."

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NBCC, which is into project management consultancy (PMC) and real estate businesses, will get 1 per cent of the sale value as marketing fee.

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 NBCC.

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NBCC was asked to complete 38,000 flats and hand them over to homebuyers.

Apart from the task of completing 38,000 units, NBCC is developing more than 10,000 apartments in five ongoing projects of Amrapali in Greater Noida after the local authority allowed development on unused land parcels.

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