NBCC Secures Rs 5,779 Crore for Sale of 14 Lakh Sq Ft Commercial Space in South Delhi via E-Auction

Government Secures Rs 5,779 Crore through Sale of Commercial Space in South Delhi

The government has made a significant revenue gain through the sale of a large commercial space in South Delhi. State-owned NBCC Ltd, acting on behalf of the government, has sold approximately 14 lakh square feet of commercial space at Bharat Business Park, Sarojini Nagar, New Delhi, for a total sale value of around Rs 5,779 crore. This sale was conducted through an e-auction.

According to a regulatory filing by NBCC on Friday, the company will receive a marketing fee of one per cent of the sale value, which further adds to the revenue generated from this transaction. It's worth noting that NBCC has been entrusted with the responsibility of developing and selling commercial space in South Delhi on behalf of the government. The funds generated from these sales are utilized for the redevelopment of residential colonies.

NBCC is a prominent player in the project management consultancy and real estate sectors. Through its various initiatives, including the sale of commercial space, the company has been contributing to the government's efforts to redevelop residential colonies and generate revenue for public projects.