Overview
- NBCC, which disclosed the results Friday, sold about 14 lakh sq ft at Bharat Business Park in Sarojini Nagar through an e-auction for roughly Rs 5,779 crore.
- The auction covered five of eight office towers and fetched an average of Rs 41,207 per sq ft, about 5% above the reserve price.
- The bidding drew strong interest from large domestic and overseas buyers, and Russian lender Sberbank purchased two of the towers.
- NBCC will receive a 1% marketing fee, while the proceeds are earmarked to finance General Pool Residential Accommodation projects overseen by the Housing Ministry, including work at Nauroji Nagar, Netaji Nagar, Sarojini Nagar and other colonies.
- NBCC said unsold space from the eight-tower plan will move to a second auction phase, with the energy‑efficient complex targeted for completion in about two years.