State-owned firm NBCC, involved in project management consultancy (PMC) and real estate, has reported a significant sale of commercial inventory in Nauroji Nagar, South Delhi. The sale, conducted during its 21st open e-auction on a freehold basis at the World Trade Centre (WTC), Nauroji Nagar, accumulated Rs 1,557.51 crore ($207 million). The auction saw participation from six successful bidders, including HDFC Bank and Petronet LNG.
The auction marked a milestone as the highest sale since the launch of WTC New Delhi in 2017. Notably, the highest rate recorded was Rs 43,161 per sq ft. This is part of the broader redevelopment project of Nauroji Nagar under the Union Housing and Urban Affairs ministry's direction.
HDFC Bank emerged as a major participant, purchasing an entire tower measuring 2,84,567 sq ft for Rs 1,130.63 crore ($150 million). In contrast, Petronet LNG acquired 94,095 sq ft for Rs 373.81 crore ($50 million), both at Rs 37,161 per sq ft.
Private entities also contributed to the substantial amount of sales, accounting for the purchase of 2.97 lakh sq ft valued at Rs 1,183.7 crore ($157 million).
The successful auction reflects a positive trend in commercial real estate transactions amid ongoing redevelopment projects by NBCC.
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