NBCC sells office spaces worth Rs 14,800 crore in Delhi, Real Estate News, ET RealEstate
NEW DELHI: The National Buildings Construction Corporation (NBCC) has sold 1.81 lakh sq ft of commercial space for Rs 908.48 crore at World Trade Centre (WTC), Nauroji Nagar, Delhi.
Through this e-auction, out of the total area sold, around 1.21 lakh sq ft having sale value of approximately Rs 596.25 crore has been sold to PSU/government entities and 0.60 lakh sq ft having sale value of Rs 312.23 crore was sold to private entities. The highest price fetched for a unit was Rs 62,261 per sq ft against the reserve price of Rs 37,161 per sq ft.
WTC Nauroji Nagar is redeveloped as a commercial centre having approximately 34 lakh sq ft of commercial built-up area which is being constructed in place of 628 numbers of old / dilapidated quarters. The project encompasses about 25 acres of land and features 12 towers, each with 10 floors.
The company also sold commercial spaces in Downtown Sarojini Nagar. Recently, through a bulk sale, NBCC has sold the balance unsold commercial inventory of 3.52 lakh sq ft having a sale value of approximately 1,343 crore.
With this, NBCC has successfully sold the entire inventory of 3.64 lakh sq ft valuing about Rs. 1,391 crore.
The project includes 329 shops having a built up area of about 1,81,500 sq ft and 300 offices having a built up area of approximately 1,84,400 sq ft. The size of shops ranges from 138 sq ft to 738 sq ft while the office size ranges from 216 sq ft to 882 sq ft.
DownTown has been executed on a land parcel of 2.18 acres, incorporating approx 3.77 lakh sq ft of commercial built-up area.
The funds for the redevelopment regarding seven GPRA colonies is being generated by NBCC through the sale of commercial space at Nauroji Nagar and Sarojini Nagar. NBCC is re-developing Nauroji Nagar, Sarojini Nagar and Netaji Nagar while CPWD is executing the other four colonies, i.e. Kasturba Nagar, Thyagraj Nagar, Srinivaspuri and Mohammadpur.
