NBCC (India) Ltd has successfully sold 609 residential units in Greater Noida (West) through an e-auction, fetching INR 1,070 crore. The units come from the Aspire Leisure Valley and Aspire Centurian Park projects, part of the Supreme Court-directed initiative to complete stalled Amrapali projects. Delhi-based AU Real Estate acquired the selling rights, buying 462 units in Aspire Leisure Valley and 147 units in Aspire Centurian Park. The sale marks progress in delivering 38,000 flats to homebuyers, with AU Real Estate launching the project at INR 7,979 per sq ft for Aspire Leisure Valley.
State-owned NBCC (India) Ltd has sold 609 residential units in Greater Noida (West) for a total of INR 1,070 crore through an e-auction. According to a regulatory filing earlier this week, the units sold belong to two projects Aspire Leisure Valley and Aspire Centurian Park. NBCC will earn a marketing fee of 1 per cent of the sale value. The name of the buyer was not disclosed by NBCC.
These sales are part of a larger effort under the Supreme Court's direction. The Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete unfinished Amrapali projects with NBCC's support. NBCC was tasked with completing 38,000 flats for homebuyers, with the total investment required estimated at around INR 8,300 crore.
Delhi-based AU Real Estate has acquired the selling rights for Aspire Leisure Valley (Phase 2) and Aspire Centurian Park from NBCC. The combined transaction value of the acquisition stands at INR 1,069 crore for 609 units. Specifically, AU Real Estate has purchased 462 units in Aspire Leisure Valley for INR 696.20 crore and 147 units in Aspire Centurian Park for INR 373.23 crore.
AU Real Estate Director Ashish Agarwal stated that the company has launched the Aspire Leisure Valley project at an introductory price of INR 7,979 per sq ft, signaling the start of sales for these residential units.
Source PTI
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