Key Takeaways:
- NBCC sells 417 Amrapali flats via e-auction for Rs 1,045.4 crore, boosting liquidity for stalled projects.
- NBCC sells Amrapali flats under ASPIRE mandate to complete 38,000 units directed by the Supreme Court.
- Company to earn a 1 per cent marketing fee; buyers remain undisclosed.
- NBCC is also developing over 10,000 additional apartments to finance construction and handovers to homebuyers.
NBCC secures Rs 1,045 crore through sale of Amrapali apartments
State-owned NBCC (India) Ltd has sold 417 residential units in Noida and Greater Noida for a combined Rs 1,045.4 crore through e-auction, providing a fresh infusion of funds to complete stalled housing projects that were left unfinished by the Amrapali Group.
NBCC sells Amrapali flats
The sales cover units at Aspire Leisure Valley in Greater Noida (West) and Aspire Silicon City, Phase IV in Sector 76, Noida. The transactions were disclosed in a regulatory filing on Tuesday, with NBCC noting that it will receive a marketing fee equivalent to 1 per cent of the sale value. The company has not revealed the identities of the buyers.
The divestment forms part of a wider court-mandated intervention. Following a Supreme Court directive, the Amrapali Stalled Projects Investments Reconstruction Establishment, known as ASPIRE, was established and tasked NBCC with completing approximately 38,000 flats originally promised by the now-defunct Amrapali Group. NBCC was appointed as the implementation agency to finish construction and hand units over to affected homebuyers.
Besides completing these court-ordered units, NBCC is developing more than 10,000 additional apartments across five ongoing Amrapali projects in Greater Noida, after local authorities approved development on unused land parcels. Revenue generated from the sale of these extra units is intended to fund construction costs for the remaining obligations under ASPIRE.
Analysts say the e-auction proceeds should bolster NBCC’s ability to meet deadlines and reduce financial pressure on the agency. Successful monetisation of completed or nearly completed units helps create a self-financing cycle, in which sales revenue is recycled to finish stalled projects and deliver homes to waiting buyers.
For homebuyers left in limbo after Amrapali’s collapse, tangible sales and ongoing construction offer a measure of reassurance. NBCC’s active disposal of completed units will be closely watched by stakeholders seeking clarity on timelines, handover schedules and the broader health of the local real-estate market.
NBCC operates both as a project management consultant and a real-estate developer. The company’s dual role has been central to the ASPIRE process, allowing it to coordinate construction, regulatory clearances and the commercialisation of surplus inventory.
Industry observers note that while the auction sale is a positive development, transparency around buyer identities and the timing of further handovers will be crucial to maintain confidence among affected homeowners. NBCC’s next steps will include prioritising construction milestones and ensuring compliance with court directions as it continues work across multiple sites.
In the meantime, the Rs 1,045.4 crore infusion represents a notable recovery of value from assets linked to one of India’s largest real-estate failures and underscores NBCC’s role in resolving complex stalled projects at scale.
