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NBCC (India) Ltd has successfully mobilized over INR 7,000 crore through bulk auctions of residential units from stalled Amrapali projects, marking a major step in reviving nearly 46,000 delayed homes in Noida and Greater Noida. By selling over 3,700 units to private developers, including Mansan Builders, Gaursons India, and Happy Valley Infra, NBCC has fast-tracked funding and cleared significant dues. The company plans to auction 3,400 more units and repay bank loans while developing new housing across six major projects. These efforts, supervised by the Supreme Court-appointed receiver, signify steady progress toward completing the long-pending Amrapali housing developments.
NBCC (India) Ltd, the state-owned construction enterprise, has successfully mobilized over INR 7,000 crore through the large-scale auction of residential properties from stalled Amrapali Group projects. This achievement marks a vital advancement in the ongoing mission to revive more than 46,000 delayed housing units across Noida and Greater Noida. The company secured the funds through three strategic bulk auctions, in which apartments were sold to private developers Mansan Builders, Happy Valley Infra, and Gaursons India. This shift from individual retail sales to bulk transactions reflects a deliberate move to expedite capital inflow, support ongoing construction, and address legacy liabilities. Advertisement
In these auctions, Mansan Builders acquired 1,233 flats in the Aspire Golf Homes project for INR 3,216.95 crore. Gaursons India purchased 1,046 units in Aspire Centurian Park for INR 2,353.15 crore, while Happy Valley Infra invested INR 1,504.69 crore to secure 1,185 apartments in Aspire Dream Valley. Collectively, NBCC has sold more than 3,700 units across these projects, translating to approximately 19.1 million square feet of residential area. To maintain momentum, NBCC intends to auction an additional 3,400 units soon.
The bulk sale strategy is poised to accelerate construction activity and resolve longstanding financial obligations. Of the funds raised, the firm will repay INR 1,550 crore to lending banks involved in the original project financing. Another INR 3,000 crore remains payable to the Greater Noida Authority. This progress follows recent approval from the Uttar Pradesh government, which has permitted NBCC to construct more residential units. The additional inventory could potentially generate up to INR 14,000 crore, reinforcing efforts to complete the remaining housing backlog.
Currently, NBCC is focused on delivering nearly 38,000 homes. However, a total of 46,000 units-including 41,000 previously sold and 5,000 unsold flats-are part of the larger revival framework. These homes are distributed across more than 20 long-pending Amrapali developments. Approximately 8,200 new flats are under development, spanning over 22.2 million square feet of saleable area. These units are being constructed within six major projects: Aspire Leisure Park, Aspire Leisure Valley (Packages I and II), Aspire Dream Valley, Aspire Silicon, Aspire Golf Homes, and Aspire Centurian Park.
NBCC is concurrently awarding construction tenders, ensuring that building activity continues in parallel with fundraising efforts. All construction and financial processes fall under the supervision of the Court Receiver Committee, established by the Supreme Court to monitor the rehabilitation of the Amrapali portfolio. Dedicated contractors are already mobilized at each site, and work has resumed across all projects.
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