NBCC sells commercial real estate worth Rs 1,905 crore in South Delhi

State-owned construction firm NBCC (India) has announced that in its latest e-auction for commercial real estate at the World Trade Centre (WTC) in Nauroji Nagar, New Delhi. The company revealed the successful sale of 4.8 lakh square feet of commercial space, marking the highest sale realisation to date, amounting to Rs 1,905 crore.

The auction witnessed participation from major organisations, including Power Finance Corporation Ltd, Security Printing and Minting Corporation of India Ltd, and Solar Energy Corporation of India Ltd, who collectively contributed to the substantial sale.

Out of the total area sold, approximately 4.38 lakh square feet, valued at about Rs 1,740 crore, has been acquired by public sector units (PSUs), highlighting interest from government entities.

With a total of five successful bidders, comprising three PSU bidders and two private entities, NBCC continues to demonstrate its prowess in facilitating lucrative real estate transactions. The latest achievement adds to NBCC's track record, having sold over 30 lakh square feet of commercial space through 25 e-auctions, amassing a total sale value exceeding Rs 12,100 crore.

The WTC project, a flagship development, has garnered attention from prominent buyers across diverse industries. Progressing rapidly towards completion, the project has achieved over 94% physical progress, solidifying its stature as a landmark commercial center.

The redevelopment initiative aims to transform the World Trade Centre into a premier commercial hub, boasting approximately 34 lakh square feet of commercial built-up area. The endeavour involves the construction of modern infrastructure in place of 628 old and dilapidated quarters, signalling a significant step towards revitalising the urban landscape of South Delhi.

(With PTI inputs)