State-owned listed construction firm NBCC (India) Ltd has sold 2.05 lakh square feet of commercial space in the World Trade Centre in Delhi for around Rs 828 crore, the company said in a regulatory filing.
The company said that the commercial space at the World Trade Centre (WTC) in Nauroji Nagar in south Delhi was sold in the 24th e-auction. Oil India Limited, NBCC and Hamdard Laboratories were among the major entities, which bought space in this e-auction.
As of date, the company has sold a total commercial inventory of over 26 lakh sqft through a series of 24 e-auctions having a sale value of over Rs 10,600 crore. The real estate developer has successfully sold around 80 percent of its commercial inventory to date.
Also Read: NBCC gains on sale of commercial space in New Delhi for Rs 272.68 crore
“The project is rapidly progressing towards completion with more than 95 percent of physical progress achieved. We are aiming to complete the sale of the project by March 2024. Many prominent PSUs and MNCs have made WTC as their new address,” KP Mahadevaswamy, CMD, NBCC said.
In the recent auction, there were a total of six successful bidders, out of which two were PSUs and four were private entities. Out of the total area sold, around 1.50 lakh square feet having a sale value of approximately Rs 605 crore have been sold to PSU entities.
Also Read: NBCC to construct over 13,000 flats in 5 Amrapali projects, eyes Rs 15,000 cr topline
World Trade Centre is redeveloped as a commercial centre having approximately 34 lakhs sqft of commercial built-up area which is being constructed in place of 628 old and dilapidated quarters. Situated in Nauroji Nagar, the WTC enjoys proximity to major establishments, recreational areas, and transportation hubs like the Ring Road, metro stations, airports and AIIMS.
The project encompasses 25 acres of land and features 12 towers, each with 10 floors. The Ministry of Housing and Urban Affairs has appointed NBCC, a Navratna company, as the implementing agency for the redevelopment of Nauroji Nagar, New Delhi.
Also Read: NBCC to complete pending Amrapali projects and deliver flats to homebuyers by March 2025
NBCC has also been tasked with the execution of government colonies at Sarojini Nagar and Netaji Nagar as a part of the redevelopment of seven General Pool Residential Accommodation (GPRA) colonies in New Delhi.
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