80% commercial space at World Trade Centre in Delhi sold: NBCC
The WTC, with commercial space of 3.4 million sq ft, is being built by replacing 628 government staff quarters in Nauroji Nagar
As much as 80% of the commercial space at the World Trade Centre (WTC), which replaced the old, dilapidated government quarters in South Delhi’s Nauroji Nagar, has been sold, the National Building Construction Corporation (NBCC) said on Friday.
NBCC, which is building the WTC, said in a statement that the sale of 2,00,000 sq ft of commercial space at ₹830 crore on Thursday meant that 80% of the inventory of the upcoming WTC has been sold and the public sector enterprise aims to complete the sales by the end of March.
The WTC, with commercial space of 3.4 million sq ft, is being built by replacing 628 government staff quarters in Nauroji Nagar. Many public sector companies and multinational corporations, including Oil India, GAIL and HDFC, have so far bought space at the centre.
NBCC, a Navaratna PSU under the ministry of housing and urban affairs (MoHUA), is building the WTC as part of the seven General Pool Residential Accommodation colonies redevelopment along with the Central Public Works Department.
NBCC chief managing director KP Mahadevaswamy said the WTC project is rapidly progressing towards completion with more than 95% complete. “We are aiming at the complete sale of this project by March 2024,” he said.
The project, built on 25 acres of land, will have 12 towers, each of 10 floors with a mix of office and retail spaces, besides a convention centre, conference hall facilities, board rooms, exhibition centre, auditorium, food and beverage outlets within the campus.
The project was halted for close to two years after the Delhi high court in August 2018 issued a stay owing to environmental and sustainability concerns.
The WTC shares proximity with major establishments, recreational areas, and transportation hubs such as the Ring Road, Metro stations, the airport, and hospitals, making it an attractive location for businesses seeking excellent connectivity and accessibility.
Other than Nauroji Nagar, the NBCC is tasked with redeveloping government colonies in Sarojini Nagar and Netaji Nagar. The proceeds of the sale of commercial space will fund the cost of construction of government quarters that will be built in these areas.