New Delhi: In a major boost to real estate revival in Noida, NBCC (India) Limited, a Navratna PSU under the Ministry of Housing and Urban Affairs, has successfully conducted an e-auction for bulk sale of 446 residential units at the Aspire Silicon City project. The auction, covering 13.84 lakh sq. ft. of saleable area, fetched a total sale value of ₹1,467.93 crore, significantly exceeding reserve prices.
This e-auction forms part of a broader recovery and redevelopment initiative for stalled Amrapali Group projects, being overseen by the Hon’ble Supreme Court of India. Aspire Silicon City, with its state-of-the-art amenities and prime location, drew strong investor interest and is seen as a major step forward in fulfilling the long-delayed dreams of affected homebuyers.
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Major Milestone in Real Estate Recovery
The successful auction is not an isolated achievement. It is part of NBCC’s larger effort, which has seen five Amrapali FAR (Floor Area Ratio) projects brought to auction, namely-
- Aspire Golf Homes
- Aspire Centurion Park
- Aspire Dream Valley
- Aspire Leisure Park
- Aspire Silicon City
Together, these five projects have accounted for the sale of 4,470 residential units (covering 11.874 million sq. ft.) and have realised a total of ₹9,695.85 crore through digital e-auctions.
Strategic Impact
The funds raised through this latest auction will be utilised for:
- Repayment of bank loans
- Funding ongoing construction in stalled projects
- Accelerating delivery to long-waiting homebuyers
NBCC’s digital-first and transparent approach to real estate auctions is being hailed as a model for reviving distressed assets. It also reaffirms NBCC’s position as India’s only PSU real estate developer, setting new benchmarks in competitive and ethical property sales.
Restoring Homebuyer Trust
This success story is expected to boost investor confidence and bring long-awaited relief to thousands of homebuyers in Noida and Greater Noida (West), Uttar Pradesh. With continued oversight from the Supreme Court, NBCC’s work is being seen as a path-breaking example of public sector intervention in real estate sector reform.
About NBCC
NBCC (India) Limited, formerly known as National Buildings Construction Corporation, is a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Housing and Urban Affairs, Government of India. Incorporated in 1960, NBCC has emerged as one of India’s premier public sector construction companies, with a diversified portfolio across the real estate, infrastructure, and project management consultancy sectors.
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