NBCC Sells 14 Lakh Sq Ft Commercial Space in South Delhi for ₹5,779 Crore
NBCC sells 14 lakh sq ft commercial space in South Delhi for Rs 5,779 cr via e-auction
The Economic TimesImage: The Economic Times
NBCC Ltd, a state-owned enterprise, has sold 14 lakh square feet of commercial space at Bharat Business Park in Sarojini Nagar, New Delhi, for approximately ₹5,779 crore through an e-auction. The proceeds will aid in the redevelopment of residential colonies in the area.
- 01NBCC sold 14 lakh sq ft of commercial space for ₹5,779 crore.
- 02The sale took place at Bharat Business Park, Sarojini Nagar, New Delhi.
- 03NBCC will receive a marketing fee of 1% from the sale.
- 04The funds will be used for redeveloping residential colonies.
- 05NBCC specializes in project management consultancy and real estate.
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NBCC Ltd (National Buildings Construction Corporation), a state-owned company, has successfully sold 14 lakh square feet of commercial space located at Bharat Business Park in Sarojini Nagar, New Delhi, for a total of approximately ₹5,779 crore (roughly $695 million USD) through an e-auction. This transaction, reported in a regulatory filing, highlights NBCC's ongoing role in developing and selling commercial properties on behalf of the government. As part of the agreement, NBCC will earn a marketing fee of 1% of the total sale value. The funds generated from this sale will be allocated towards the redevelopment of residential colonies, demonstrating NBCC's commitment to enhancing urban infrastructure. The company is known for its expertise in project management consultancy and real estate development.
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The sale will provide significant funding for the redevelopment of residential areas, potentially improving living conditions for local residents.
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