April 1, 2024: State-owned construction firm NBCC (India) on March 27, 2024, announced the successful sale of 4.8 lakh square feet (sqft) of commercial space in South Delhi for Rs 1,905 crore on behalf of the government. This transaction, conducted through the 25th e-auction for commercial space at the World Trade Centre (WTC) in Nauroji Nagar, marks the highest sale realisation achieved by NBCC to date.
Notable organisations such as Power Finance Corporation, Security Printing and Minting Corporation of India and Solar Energy Corporation of India were among the major buyers during this e-auction. Of the total area sold, approximately 4.38 lakh sqft, valued at around Rs 1,740 crore, was acquired by public sector units (PSUs). The e-auction saw participation from five successful bidders, comprising three PSU entities and two private organisations. As of now, NBCC has sold over 30 lakh square feet of commercial space through 25 e-auctions, amounting to a total sale value exceeding Rs 12,100 crore.
The WTC project, a significant development initiative, has attracted prominent buyers from various industries. Progress on the project is advancing rapidly, with more than 94% of physical completion achieved. The redevelopment of the World Trade Centre into a commercial hub encompasses approximately 34 lakh sqft of commercial built-up area, replacing 628 old or dilapidated quarters with 12 towers, each comprising 10 floors.
Situated in Nauroji Nagar, the WTC benefits from its close proximity to key establishments, recreational areas, and transportation hubs such as the Ring Road, metro stations, airports and hospitals. Spanning about 25 acre of land, the project offers a strategic location and modern amenities to its occupants.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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