NBCC registered the sale of 111 residential units in Noida through an electronic auction, generating revenue of 416.53 crore rupees. This information was presented by the company during regulatory reporting on Tuesday.
According to NBCC data, these 111 residential units were sold in the Aspire Silicon City project located in Noida. The total value of these units amounted to approximately 416.53 crore rupees, averaging about 3.75 crore rupees per apartment. However, the price may vary depending on the size, floor, and other characteristics of each apartment.
Furthermore, NBCC will receive a 1% marketing fee from this sale, which could bring the company around 4.17 crore rupees.
Aspire Silicon City is one of the projects related to the completion process of Amrapali's unfinished real estate properties. Following directives from the Supreme Court, NBCC assumed significant responsibility for completing the unfinished and long-stalled Amrapali projects. An entity named Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was created as part of this process.
The objective of ASPIRE is to complete the frozen projects and hand over apartments to buyers who have been waiting for their homes for a long time.
After taking responsibility for Amrapali's unfinished projects, NBCC was tasked with completing approximately 38,000 apartments and handing them over to homeowners. Thousands of homebuyers faced difficulties due to the prolonged unfinished state of Amrapali projects. Thus, NBCC's role is not limited only to construction completion but also includes systematically advancing these projects to deliver housing to buyers.
NBCC is not only involved in completing stalled apartments. The company is also constructing over 10,000 apartments across five current Amrapali projects in Greater Noida. Construction began after receiving permission from the local authority to develop vacant land.