NBCC (India) Ltd, a government-owned construction company, has sold 205,000 square feet of commercial space at the World Trade Centre (WTC) in Delhi for Rs 828 crore, according to their latest announcement. This sale happened during the 24th online auction. Major buyers included Oil India Limited, NBCC itself, and Hamdard Laboratories.
So far, NBCC has sold more than 2.6 million square feet of space in 24 online auctions, bringing in over Rs 10,600 crore. The company has successfully sold about 80% of its available commercial space.
KP Mahadevaswamy, the chief of NBCC, mentioned that the WTC project is nearly finished, with over 95% of the work done. They aim to sell all the project space by March 2024. The WTC has attracted many important public sector units (PSUs) and multinational companies (MNCs) as tenants.
In the latest auction, six bidders won space, including two PSUs and four private companies. Public sector entities bought about 150,000 square feet for Rs 605 crore.
The World Trade Centre, located in Nauroji Nagar, South Delhi, is being redeveloped into a commercial hub. It will have about 3.4 million square feet of office space, replacing 628 old homes. The area is close to major roads, metro stations, airports, and AIIMS hospital.
This large project covers 25 acres and will have 12 buildings, each with ten floors. NBCC, recognized as a Navratna company by the government, is overseeing this redevelopment. It is also working on redeveloping other government housing in New Delhi, including in Sarojini Nagar and Netaji Nagar, as part of a larger project to modernize seven residential areas.
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