State-run NBCC has auctioned 446 residential units at Aspire Silicon City, Noida for Rs 1467.93 crore.
The funds will go towards repayment of bank loans as well as reducing the funding requirement of ongoing projects.
With this, NBCC has generated Rs 9695.85 crore from the bulk sale of residential units through four auctions part of Amrapali projects.
Till date, e-auctions have been completed for 5 new FAR projects of Amrapali (Aspire Golf Homes, Aspire Centurion Park, Aspire Dream Valley, Aspire Leisure Park and Aspire Silicon City) comprising a total of 4470 residential units (saleable area of 11.874 million sq. ft.).
After the Uttar Pradesh government allowed NBCC to develop additional flats in the project, it estimated to generate an additional Rs 14,000 crore, which would have helped timely completion of stuck projects.
Initially, it planned for retail sale but later auctioned the units in bulk to Manson, Happy Valley Infra and Gaurs group to generate quick fund.
NBCC has awarded 1,233 units to Mansan Builders for Rs 3,216.95 crore at Aspire Golf Homes while 1,046 units have been awarded to Gaursons India for Rs 2,353.15 crore for Aspire Centurian Park.
In another auction, Happy Valley Infra has been awarded 1,185 units for Rs 1504.69 crore for Aspire Dream Valley.
More than 41,000 sold and 5,000 unsold units in over 20 stalled projects, together accounting for about 46,000 units, has to be delivered by NBCC in tranches.
NBCC was tasked to complete about 38,000 homes.
All transactions related to Amrapali projects takes place under the banner of Court Receiver Committee, created specifically to revive almost 46000 stalled homes. NBCC has appointed construction partners in all affected projects, and construction is underway at every site.
The funds will go towards repayment of bank loans as well as reducing the funding requirement of ongoing projects.
With this, NBCC has generated Rs 9695.85 crore from the bulk sale of residential units through four auctions part of Amrapali projects.
Till date, e-auctions have been completed for 5 new FAR projects of Amrapali (Aspire Golf Homes, Aspire Centurion Park, Aspire Dream Valley, Aspire Leisure Park and Aspire Silicon City) comprising a total of 4470 residential units (saleable area of 11.874 million sq. ft.).
After the Uttar Pradesh government allowed NBCC to develop additional flats in the project, it estimated to generate an additional Rs 14,000 crore, which would have helped timely completion of stuck projects.
Initially, it planned for retail sale but later auctioned the units in bulk to Manson, Happy Valley Infra and Gaurs group to generate quick fund.
NBCC has awarded 1,233 units to Mansan Builders for Rs 3,216.95 crore at Aspire Golf Homes while 1,046 units have been awarded to Gaursons India for Rs 2,353.15 crore for Aspire Centurian Park.
In another auction, Happy Valley Infra has been awarded 1,185 units for Rs 1504.69 crore for Aspire Dream Valley.
More than 41,000 sold and 5,000 unsold units in over 20 stalled projects, together accounting for about 46,000 units, has to be delivered by NBCC in tranches.
NBCC was tasked to complete about 38,000 homes.
All transactions related to Amrapali projects takes place under the banner of Court Receiver Committee, created specifically to revive almost 46000 stalled homes. NBCC has appointed construction partners in all affected projects, and construction is underway at every site.
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