May 24, 2024

NBCC (India) Ltd during 24th e-auction has sold approximately 2 lakh square feet of commercial space for approximately Rs. 830 crore in the World Trade Centre project at Nauroji Nagar, New Delhi. The major corporation who has bought space in this e-auction includes NBCC, Oil India Limited and Hamdard Laboratories. Out of the total area sold, around 1.50 lakh square feet having sale value of approximately Rs 605 crore has been sold to PSU entities. The total numbers of successful bidders were six, out of which two were PSU bidders and four private entities. The sale marks a significant milestone for the company and demonstrates the exceptional demand for premium commercial space in India’s capital.

As on date, the company has sold a total commercial inventory of over 26 lakh square feett through a series of 24 e-auctions having a sale value of over Rs 10,600 crore. The WTC project, a landmark development, has attracted marquee buyers across various industries. The company has successfully sold around 80% commercial inventory till date, achieving impressive sales figures and setting new benchmarks in the real estate sector.

On this occasion, Shri K.P. Mahadevaswamy, CMD, NBCC said, “This success reflects the enduring appeal of the NBCC & WTC Nauroji Nagar, the project’s strategic location, and its world-class facilities. The project is rapidly progressing towards completion with more than 95 per cent of physical progress achieved. We are aiming at complete sale of this project by March 2024. Recently, office of CRCS was also inaugurated by Hon’ble Union Minister for Home and Cooperation, Shri Amit Shah Ji. Many prominent PSU’s and MNCs have made WTC as their new address.”

World Trade Centre is redeveloped as commercial centre having approximately 34 lakhs square feet of commercial built up area which is being constructed in place of 628 numbers of old/ dilapidated quarters. Situated in Nauroji Nagar, the WTC enjoys close proximity to major establishments, recreational areas, and transportation hubs like the Ring Road, metro stations, airports, and hospitals. This makes it an attractive location for businesses seeking excellent connectivity and accessibility. The project encompasses 25 acres of land and features 12 towers, each with 10 floors, offering ample space for businesses to grow and expand. One can experience the best of both worlds with office and retail spaces, besides Convention Centre, Conference facilities, Board rooms, exhibition centre, auditorium, F&B etc under one roof.

The Ministry of Housing and Urban Affairs has appointed NBCC, a Navratna company, as the implementing agency for the redevelopment of Nauroji Nagar, New Delhi. NBCC is authorized to market the commercial space on a freehold basis. With a workforce of around 3,000 engaged in the construction at this moment, NBCC has generated more than 2 million mandays while executing this project.

As a part of the redevelopment of 7 General Pool Residential Accommodation (GPRA) colonies in New Delhi, NBCC has also being tasked with the execution of government colonies at Sarojini Nagar and Netaji Nagar.

NBCC has been a pioneer in bringing and successfully implementing the redevelopment model. In view of this, a unique self-revenue generating model to redevelop the existing old dilapidated Govt colonies and properties is being executed by NBCC.