NBCC has successfully completed the e-auction for commercial built-up space on a freehold basis at Bharat Business Park (BBP), located in Sarojini Nagar, New Delhi. This e-auction presented a super built-up area of approximately 23.44 lakh sq ft distributed across eight towers.
The auction yielded a total sale value of around ₹5,779 crore, determined by the highest bid rates for a super built-up area of approximately 14 lakh sq ft that was auctioned in five towers. The average sale price recorded during the e-auction was ₹41,207 per sq ft, reflecting an increase of ₹2,107 per sq ft, which is a 5% rise over the reserve price.
The proceeds generated from this e-auction will be allocated to finance various ongoing redevelopment projects, assist in adhering to project completion schedules, and fulfill financial commitments under the Ministry of Housing and Urban Affairs (MoHUA).
