NBCC announced on Tuesday that it has successfully sold 1,233 housing units in its new project, Aspire Golf Homes, located in Greater Noida, for a total of ₹3,217 crore through an e-auction. This significant achievement is a crucial step toward completing the stalled projects of the former Amrapali Group, providing relief to countless homebuyers who have been waiting to own their homes.
The initiative is part of the Supreme Court’s directive to resolve the Amrapali Group’s unfinished projects. To facilitate this, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed, with NBCC (India) Ltd. tasked with completing 38,000 flats and delivering them to homebuyers.
In a statement, NBCC shared that the e-auction received an overwhelming response, with bids far exceeding the reserve price. The ₹3,216.95 crore generated from the sale (excluding additional charges) will help address the funding needs of ongoing projects, including repaying bank loans. This infusion of funds is expected to significantly reduce the backlog of stalled projects in Noida and Greater Noida, ensuring their timely completion.
The Aspire Golf Homes project marks a major milestone in NBCC’s efforts to revive the Amrapali Group’s stalled developments. Last year, NBCC received approval from the Greater Noida Industrial Development Authority to develop 75 acres of unused land across five of Amrapali’s existing residential projects. These projects are expected to deliver over 8,000 units, with Aspire Golf Homes being the first to launch.
This successful e-auction not only brings hope to homebuyers but also demonstrates NBCC’s commitment to resolving long-pending real estate issues and fulfilling the dreams of countless families awaiting their homes.