NBCC sells 4.8 lakh sq ft commercial space for ₹1905 crore at Delhi's World Trade Centre

By Bricksnwall | 2024-03-28

Power Finance Corporation Limited, Security Printing and Minting Corporation of India Limited, and Solar Energy Corporation of India Limited have acquired space.

The government's construction arm, NBCC (India) Ltd, sold 4.8 lakh sq ft of commercial space at the World Trade Centre in Delhi for ₹1905 crore, according to a company statement.

The major organizations that bought space during the WTC's 25th e-auction were Power Finance Corporation Limited, Security Printing and Minting Corporation of India Limited, and Solar Energy Corporation of India Limited.

"In the 25th e-auction for commercial space at World Trade Centre (WTC) in Nauroji Nagar here, NBCC achieved the highest sale realization till date with the sale of 4.8 lakh square feet of commercial space for ₹1,905 crore," the NBCC said in a statement.

Approximately 4.38 lakh square feet, valued at ₹1,740 crore, were sold to public sector undertaking firms. The overall number of successful bidders was five, with three PSU bidders and two private firms.

"The sale marks a significant milestone for the company and demonstrates the exceptional demand for premium commercial space in India's capital," the company said in a statement.

To date, the company has sold over 30 lakh sq ft of commercial inventory through 25 e-auctions, totaling over ₹12,100 crore. The WTC project, a landmark construction, has attracted marquee buyers from a variety of industries. According to the report, the project is swiftly approaching completion, with more than 94% of physical work already made.

The World Trade Centre was established as a commercial center with roughly 34 lakh sq ft of commercial built-up area, replacing 628 old/dilapidated quarters. The WTC is conveniently located in Nauroji Nagar, near important companies, recreational places, and transit hubs such as the Ring Road, metro stations, airports, and hospitals.

This makes it an appealing location for enterprises looking for connectivity and convenience. According to the corporation, the project spans over 25 acres and has 12 buildings, each with ten stories, providing adequate room for businesses to grow and flourish.

Source: Hindustan Times