State-run NBCC (India) Ltd has successfully completed the e-auction of 609 residential units across two ongoing housing projects in Greater Noida, Uttar Pradesh, generating total sales worth about ₹1,069.43 crore. The sale represents one of the company’s largest digital auction outcomes in recent quarters, reflecting robust demand for ready and near-complete residential units in the NCR region.
In its filing to stock exchanges, NBCC clarified that the units were part of Aspire Leisure Valley Package-2, covering Towers 1 and 2, and Aspire Centurian Park, which includes Tower 10 and the Iconic Tower from the 36th floor upward. These properties are part of Sub-Package-1 of the broader Greater Noida West development plan, a micro-market that has recently gained traction as developers complete previously stalled or delayed projects.
“The company has successfully sold 609 residential units through an e-auction at a total sale value of approximately ₹1,069.43 crore,” NBCC said in a statement. The company will also earn a marketing fee of 1% of the sale value.
NBCC's auction success is in line with the escalating buyer demand for ready-to-move-in properties in NCR, mainly in micro-markets such as Greater Noida West, Noida Extension, and Ghaziabad. This is a call for digital e-auctions that have become a dependable tool to bridge the gap between supply and demand thus ensuring price stability and quick monetisation of unsold units, as per analysts.
NBCC's move is a win-win situation where liquidity and revenue of the company get a fill-up with the buyers who get the immediate possession of the property they have longed for. In the last one year, NBCC has propagated a series of energetic e-auctions of which noteworthy are the one of Amrapali handing over 609 residential units to AU Real Estate for ₹1,069 crore and the bulk sale of residential units at Aspire Silicon City in Noida for ₹1,467.93 crore.
Alongside, the entity is also pitching for e-auctions in cities such as New Delhi, Lucknow, Vadodara, and Bhubaneswar to show off their unwavering resolve in monetising residential and commercial assets through online platforms.
The completion of the long-delayed projects by developers has stirred up the homebuyers' interest in the Greater Noida West area most notably. The locality has turned into one of the most desirable residential centers due to the factors like increment in infrastructure investments, improved connectivity, and nearness to Delhi-NCR, thus, there has been a great surge in e-auctions participation.
Image source- nbccindia.in
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