State-owned NBCC (India) Ltd has successfully completed the e-auction of commercial built-up space at Bharat Business Park in Sarojini Nagar, New Delhi, generating a total sale value of about Rs 2,857 crore. The company informed stock exchanges about the development on June 17.
Major Commercial Sale Completed
According to NBCC, around 7.08 lakh square feet of commercial built-up area was sold through the e-auction process at Bharat Business Park.
The project is located in Sarojini Nagar, one of the key redevelopment zones in the national capital. The successful auction highlights strong demand for premium commercial real estate in Delhi.
Sale Value Reaches Rs 2,857 Crore
The company said the total sale value of the auctioned commercial space stood at approximately Rs 2,857 crore.
The transaction marks a significant milestone for NBCC’s ongoing redevelopment and monetisation efforts. The company has been actively developing and marketing commercial and residential assets under various government redevelopment projects.
NBCC To Earn Marketing Fee
NBCC also stated that it will receive a marketing fee of 1 percent of the total sale value generated through the e-auction.
Based on the announced sale value, the fee income will provide an additional revenue stream for the company. The proceeds further strengthen NBCC’s role in executing and monetising large-scale urban redevelopment projects.
Boost For Redevelopment Project
The successful auction is expected to support the progress of the Sarojini Nagar redevelopment project. Market experts believe the strong response reflects continued interest from businesses looking for quality commercial spaces in prime locations.
NBCC said the information has been shared with stock exchanges for record and investor information.