NBCC sold office space in south Delhi for Rs 1557.51 crore
NBCC (India) Ltd has sold 3.91 lakh sq ft of premium office space in South Delhi for Rs 1557.51 crore and will use it to fund the construction of seven colonies of Delhi.
This is the highest sale realisation in a single auction since launch of WTC, New Delhi in 2017.
The space at the World Trade Centre (WTC) that is coming up at South Delhi’s Nauroji Nagar as part of the government's redevelopment plan is being auctioned regularly and NBCC has so far earned Rs 8751.61 crore by selling about 2.17 million sq ft.
The WTC, which offers 3.4 million sq ft of saleable area including 12 commercial towers, is part of Nauroji Nagar redevelopment.
The commercial complex at Nauroji Nagar is also energy efficient that covers nature and saves cost. From recycled and environment friendly building materials and equipment to effective use of water, sunlight, it incorporates all modern design features.
Earlier, Pension Fund Regulatory and Development Authority (PFRDA) had taken 40,000 sq ft while National Internet Exchange of India (NIXI) had bought 12,000 sq ft.
In May 2020, NBCC had sold office space worth Rs 520 crore to two public sector companies.
The integrated business hub at Nauroji Nagar will have independent offices with direct connectivity from airport, railway and metro stations, retail outlets, food courts and business centres.
The project was on hold for 18 months following a stay order by the Delhi High Court. The court vacated the stay in February 2021.
NBCC had already sold nearly 340,000 sq ft of office space in two towers for Rs 1,400 crore before the stay.
The government had announced redevelopment of seven housing colonies in Delhi, of which three—Nauroji Nagar, Netaji Nagar and Sarojini Nagar—were assigned
