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The 4.8 lakh square feet of commercial space in the World Trade Center in Delhi were sold for around Rs 1,905 crore by the state-owned listed construction company NBCC (India) Ltd.
According to the real estate developer, the 25th e-auction saw the sale of the commercial space at the World Trade Centre (WTC) in Nauroji Nagar, south Delhi.
Among the major companies that bought space in this e-auction were Power Finance Corporation Limited, Security Printing and Minting Corporation of India Limited, and Solar Energy Corporation of India Limited.
NBCC Has Sold A Total Of Over 30 Lakh Square Feet Of Commercial Property
About 4.38 lakh square feet, with a sales value of about Rs 1,740 crore, were sold to PSU organizations out of the total space auctioned. Three Public Sector Units (PSUs) and two private companies were among the five successful bids.
Through 25 e-auctions, NBCC has sold a total of over 30 lakh square feet of commercial inventory, with a transaction value of over Rs 12,100 crore. According to NBCC, the project is moving quickly toward completion, with over 94% of the physical work completed.
In place of 628 outdated and decaying apartments, the World Trade Center is being renovated into a commercial hub with a built-up area of almost 34 lakh square feet.
World Trade Center Is The Biggest Commercial Hub With 34 Lakh Square Feet Space
The WTC, which is located in Nauroji Nagar, is close to important businesses, parks, and transit centers including the Ring Road, metro stations, airports, and AIIMS.
In place of 628 outdated and decaying apartments, the World Trade Center is being renovated into a commercial hub with a built-up area of almost 34 lakh square feet. The WTC, which is located in Nauroji Nagar, is close to important businesses, parks, and transit centers including the Ring Road, metro stations, airports, and AIIMS.
Approximately 600 residential quarters that housed government employees for nearly 50 years have been replaced by the 25-acre site. Sarojini Nagar, Nauroji Nagar, Kasturba Nagar, Netaji Nagar, Srinivaspuri, Mohammadpur, and Thyagraj Nagar are the other seven general pool residential accommodation (GPRA) societies in the city, all of which have undergone development.
NBCC To Sell More Commercial Space By The End Of The Current Fiscal Year
The World Trade Center Association (WTCA) of New York has approved the project license. The project includes 3.4 million square feet of commercial space is available for sale, and the majority of the money needed to renovate the seven GPRA colonies is raised here.
A total of four buildings out of twelve are currently ready for occupants. An official from NBCC, a public sector venture under the Union ministry of housing and urban affairs (MoHUA) that is building the property, stated on condition of anonymity that two central government ministries have already begun operating out of the complex.
The goal is to finish WTC building and selling commercial space by the end of the current fiscal year according to senior NBCC officials. Approximately 80% of the space has already been sold, with some of the successful bidders including HDFC, GAIL, Petronet LNG, and Oil India.
Source- HT
