NBCC Sells 480,000 Sq Ft Commercial Space in South Delhi for Rs 1,905 Crore

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NBCC (India), a state-owned construction firm, has successfully concluded the sale of 4.8 lakh square feet of commercial space in South Delhi for a staggering Rs 1,905 crore on behalf of the government. This significant achievement was realized through the 25th e-auction for commercial space at the World Trade Centre (WTC) in Nauroji Nagar, marking the highest sale realization to date for NBCC.

Major organizations, including Power Finance Corporation Ltd, Security Printing and Minting Corporation of India Ltd, and Solar Energy Corporation of India Ltd, emerged as prominent buyers during this e-auction. Out of the total area sold, approximately 4.38 lakh square feet, with a sale value of about Rs 1,740 crore, was acquired by public sector units (PSUs), highlighting their substantial interest in prime commercial real estate opportunities.

The successful auction saw a total of five bidders, comprising three PSU entities and two private entities. This sale further solidifies NBCC's position as a key player in facilitating commercial real estate transactions, with a total commercial space of over 30 lakh square feet sold through 25 e-auctions, amounting to a sale value exceeding Rs 12,100 crore. The World Trade Centre project, characterized by its landmark development status, has garnered attention from marquee buyers across various industries, showcasing the allure of its commercial offerings. As the project nears completion, with more than 94 percent of physical progress achieved, it is poised to emerge as a premier commercial center in South Delhi, catering to the evolving needs of businesses and enterprises seeking prime office space in the heart of the capital.