Real Estate
NBCC Sells Commercial Space Worth ₹5,779 Crore at Sarojini Nagar Project
NBCC has concluded the e-auction of commercial built-up space on freehold basis at Bharat Business Park, Sarojini Nagar, New Delhi, generating a total sale value of approximately ₹5,779 crore.
New Delhi, April 17: The e-auction offered super built-up area of approximately 23.44 lakh sq ft across eight towers.
Auction Results
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Area sold (across five towers): ~14 lakh sq ft
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Total sale value: ~₹5,779 crore
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Average sale rate: ₹41,207 per sq ft
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Premium over reserve price: ₹2,107 per sq ft (5% increase)
Use of Funds
The funds realized will be utilized towards:
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Financing various ongoing redevelopment works
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Supporting project completion timelines
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Meeting financial obligations under the Ministry of Housing and Urban Affairs (MoHUA)