Latest news with #NBCCLimited
India.com
21-05-2025
- Business
- India.com
446 flats bought for Rs 14680000000 in Noida by this man, but now will sell these apartments in…, will soon launch…, the man is…
AU Real Estate, a real estate development company, has purchased 446 flats for Rs 1,468 crore through an e-auction in a housing project by NBCC Limited in Noida. The company plans to sell these apartments in the open market. As per the direction of the Supreme Court, Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of the erstwhile Amrapali Group through NBCC (India). The state-owned firm was asked to complete 38,000 flats and hand them over to homebuyers. Last week, NBCC said in a regulatory filing that the company has sold 446 residential units in housing project 'Aspire Silicon City' at Sector-76, Noida, Uttar Pradesh, through an e-auction at a total sale value of Rs 1,467.93 crore. NBCC had not named the winner of the e-auction. AU Real Estate Director Ashish Agarwal confirmed the 'acquisition of selling rights for 446 units at Aspire Silicon Project from NBCC.' The total saleable area in this project is 13.85 lakh sq ft. The reserve price was Rs 10,500 per sq ft. AU Real Estate has bought at a slightly higher rate. He said the company will sell these apartments to end-users and investors at a higher price than the acquisition cost. Agarwal said the company will launch this project soon and will sell these units in a staggered manner. 'We have to pay the total bid amount of Rs 1,468 crore to NBCC in a staggered manner which is linked to progress in construction cost,' he said, adding that amount has to be paid to NBCC even if the company is unable to sell these units. The apartments will be allotted to prospective customers. NBCC is selling apartments in bulk to complete projects and repay debt. This project, spread over 8.5 acres, comprises about 600 units out of which NBCC has sold 446 flats through auction. NBCC has sold 4,470 units across five projects through e-auction for Rs 9,700 crore. Earlier, Gaurs Group, Mansan Builders and Happy Valley Infra bought flats through the electronic bidding process. AU Real Estate, which was established in 2022, is developing two projects in Delhi-NCR. (With Inputs From PTI)
Hindustan Times
18-05-2025
- Business
- Hindustan Times
NBCCL seeks agency to operate Bharat Vandana park as 87% of work done
The NBCC Limited has invited applications to hire an agency to operate Bharat Vandana Park in Dwarka's Sector 20, which is currently under construction and about 87% complete, officials familiar with the matter said. The NBCC has not announced a specific timeline for selecting the operating agency, but officials said the objective is to ensure operational readiness soon after construction is complete. Conceived as a 'Mini India' park featuring replicas of monuments from across all states, the park is being developed over 220 acres at a cost of ₹524 crore, officials said. Once completed, it is expected to become a major public landmark in Delhi, they added. 'The development of Bharat Vandana Park is progressing steadily, with key activities such as the construction of the Pylon Bridge, civil finishing works, testing and commissioning of MEP (Mechanical, Electrical and Plumbing) equipment, and horticulture and landscaping works currently underway,' said an NBCC spokesperson, requesting anonymity. The park's construction, which began after Home minister Amit Shah laid the foundation stone in December 2019, has faced multiple delays. Initially set to be completed by March 2022, the project was pushed back to an early 2023 deadline due to the Covid-19 outbreak and was further pushed back to December 2023 over environmental clearance issues and structural concerns related to the pylon bridge height. This bridge has now been completed, according to NBCC. A Delhi Development Authority (DDA) official said they have asked NBCC to complete the work by July 2025, though internal estimates suggest the project may not be ready until the end of the year. 'We are hoping the project will be ready by year-end,' the official added. The park's layout is inspired by a lotus flower, with nine petal-shaped zones, each serving different functions such as eco-tourism, adventure, recreation, and culture. In total, the park will feature 10 thematic zones. The park will also have 36 replicas of important monuments from all states across the country. People will be able to spot replicas of the Sun Temple in Odisha, Char Minar (Hyderabad) in Telangana, Kashi Vishwanath Temple and the ghats of Varanasi in UP, caves of Ajanta and Ellora in Maharashtra, Viceregal Lodge of Himachal Pradesh, Victoria Memorial of West Bengal, Golghar from Bihar and Hawa Mahal (Jaipur) from Rajasthan, among others. According to the plan, the park will have 10 zones, including the congregational, cultural, Pushpa Kriti Sarovar, eco-sensitive, meditation garden, fun park, adventure park, and lake view restaurant zones. Each zone is expected to span 10-12 acres, with interlinking elements such as sky bridges, toy trains, walk-along-the-wall features, and boating canals. 'We are trying to ensure net zero discharge so that all of our waste is processed internally, especially the horticulture waste,' said a senior DDA official asking not to be named. The park will also feature attractions like zip-lining, an animal animatronics zoo, a musical fountain, and light shows, along with a tree walk, food plazas, and an elevated restaurant overlooking the lake. Pylon observatories will offer panoramic views of the park.
