NBCC sells nearly 400,000 sq ft commercial space in Delhi for Rs 1,558 cr

State-owned construction firm NBCC (India) Ltd on Friday said it has sold nearly 4 lakh square feet of commercial space at the World Trade Centre in Nauroji Nagar, South Delhi for Rs 1,557.51 crore through an auction.

NBCC conducted 21st auction for the sale of commercial space in the World Trade Centre, Nauroji Nagar.

"The company has sold a total unsold commercial inventory of 3.91 lakh sq. ft. (approx) having sale value of Rs 1,557.51 crore," NBCC said in a statement.

Out of the total area sold, 2.97 lakh square feet having sale value of Rs 1,183.7 crore has been sold to private entities.

"This is the highest sale realisation in a single auction since the launch of WTC, New Delhi in 2017," the company said.

So far, NBCC has sold a total unsold commercial inventory of 21.7 lakh square feet through open e-auction having sale value of Rs 8,751.61 crore.

Housing and Urban Affairs ministry has appointed NBCC as implementing agency for re-development of Nauroji Nagar. NBCC is authorized to market the commercial space on freehold basis.