World Trade Centre in Nauroji Nagar Space Sold by NBCC
The National Buildings Construction Corporation (NBCC) has successfully sold a significant portion of commercial space at the World Trade Centre in Nauroji Nagar, New Delhi. NBCC auctioned off 1.81 lakh square feet of commercial space, generating approximately Rs 908.48 crore. Of this, 1.21 lakh square feet, valued at around Rs 596.25 crore, was purchased by public sector undertakings (PSUs) and government entities, while 0.60 lakh square feet, worth Rs 312.23 crore, was acquired by private entities. The highest price achieved for a unit was Rs 62,261 per square foot, surpassing the reserve price of Rs 37,161 per square foot.
The World Trade Centre in Nauroji Nagar is being redeveloped as a major commercial hub, featuring around 34 lakh square feet of built-up area. This redevelopment replaces 628 old and dilapidated quarters and spans approximately 25 acres, comprising 12 towers, each with 10 floors.
In addition to the Nauroji Nagar project, NBCC has also sold commercial spaces at Downtown Sarojini Nagar. Recently, NBCC conducted a bulk sale to offload the remaining unsold commercial inventory of 3.52 lakh square feet, earning approximately Rs 1,343 crore. Overall, NBCC has sold 3.64 lakh square feet of commercial space, with a total valuation of about Rs 1,391 crore.The Downtown project includes 329 shops with a built-up area of approximately 1,81,500 square feet and 300 offices with a built-up area of around 1,84,400 square feet. Shop sizes range from 138 to 738 square feet, while office sizes vary from 216 to 882 square feet. This project is developed on a 2.18-acre land parcel, featuring approximately 3.77 lakh square feet of commercial built-up area.
The funds generated from these sales are being utilized by NBCC for the redevelopment of seven General Pool Residential Accommodation (GPRA) colonies. NBCC is responsible for redeveloping Nauroji Nagar, Sarojini Nagar, and Netaji Nagar, while the Central Public Works Department (CPWD) is handling the redevelopment of Kasturba Nagar, Thyagraj Nagar, Srinivaspuri, and Mohammadpur.
Read more: Godrej Properties Land Acquisition in Gurugram for Rs 515 Cr
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