State-owned NBCC (India) Ltd has achieved a significant milestone in its efforts to complete stalled Amrapali Group housing projects, selling 417 residential units in Noida and Greater Noida for Rs 1,045.4 crore through an e-auction, industry sources confirmed. This transaction signals renewed momentum in resolving long-standing project delays and highlights the role of public sector developers in stabilising the residential market.
The move comes under the aegis of the Supreme Court-mandated Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), created to oversee the completion of approximately 38,000 units left unfinished by the erstwhile developer. NBCC, acting as the project management consultant and developer, has been entrusted with delivering these units to homebuyers, many of whom have faced years of uncertainty. According to a regulatory filing, the units sold include apartments at Aspire Leisure Valley in Greater Noida (West) and Aspire Silicon City, Phase IV, in Noida’s Sector-76. NBCC is set to earn a marketing fee equivalent to 1% of the total sale value, while buyer identities remain confidential. An official involved in the project noted that these sales will provide NBCC with vital liquidity to support ongoing construction and operational costs for additional housing developments in the region. The Greater Noida Authority has also granted in-principle approval to engage co-developers for two additional stalled group housing projects. This regulatory flexibility allows NBCC to develop more than 10,000 units across five ongoing Amrapali projects, utilising previously unused land parcels. “These approvals provide NBCC the financial and operational leverage needed to expedite delivery timelines while maintaining quality standards,” said an industry expert on urban housing development.
The transaction is emblematic of broader trends in India’s residential sector, where state-backed intervention is increasingly being used to mitigate project delays and restore buyer confidence. Analysts suggest that successful completion of these units could set a template for addressing stalled projects elsewhere, combining public accountability with professional execution. While the sector has witnessed renewed investor interest in recent years, challenges persist in execution and financing. NBCC’s approach leveraging e-auctions and strategic approvals demonstrates how structured interventions can unlock value, reduce construction bottlenecks, and provide homebuyers with timely possession. For urban planners and policymakers, the project underscores the importance of integrating legal frameworks, regulatory support, and market-driven solutions to deliver equitable housing outcomes.
As NBCC progresses, industry observers expect that completing Amrapali’s remaining units will not only ease housing demand pressures in Noida and Greater Noida but also strengthen public trust in redevelopment initiatives and sustainable urban growth strategies.
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Noida NBCC Sells 417 Amrapali Flats Raising One Thousand Crore Revenue
