NBCC earns ₹5,779 crore from sale of commercial spaces at Bharat Business Park

NBCC earned ₹5,779 crore from an e-auction for commercial space at Bharat Business Park, with strong interest from MNCs and a focus on sustainability.

New Delhi: NBCC (India) Limited has earned ₹5,779 crore from the sale of commercial space at the upcoming Bharat Business Park (BBP) in Sarojini Nagar, marking its highest-ever single e-auction realisation.

NBCC earns ₹5,779 crore from sale of commercial spaces at Bharat Business Park

An official who asked not to be identified, said that two of the towers in the complex were bought by Russian bank Sberbank.

The e-auction offered about 2.34 million square feet (sq-ft) across eight towers, of which around 1.4 million sqft in five towers was sold on a freehold basis. International and domestic MNCs, corporates, institutional buyers and some public sector undertakings participated in the auction.

According to NBCC, “The e-auction resulted in a total sale value of around ₹ 5,779 crore, based on highest bid rates for super built-up area of approximately 1.4 million sq-ft auctioned in five towers.”

The average sale rate was ₹41,207 per sq-ft, 5% higher than the reserve price.

This auction comes after Prime Minister Narendra Modi laid the foundation stone for several infrastructure projects in the national capital on March 8. The building is expected to be ready in two years.

The project is being developed as a modern commercial office complex with focus on sustainability and energy efficiency. It will include solar power systems, solar street lighting, energy-efficient chillers, modular rainwater harvesting, EV charging infrastructure and a sewerage treatment plant based on Membrane Bioreactor (MBR) technology for water recycling.

The complex will also have centralized air-conditioning, advanced safety systems and 100% power backup. A three-level basement parking facility with capacity for over 2,800 vehicles is also planned.

“The project is being developed to meet contemporary standards of workplace functionality, safety and sustainability… and is positioned as a prime commercial asset in the heart of South Delhi,” NBCC said in a statement.

Strong participation and competitive bidding led to the sale of inventory across multiple towers and floors, reflecting demand for premium commercial developments in South Delhi, said officials.

The proceeds will be used to finance seven GPRA (general pool residential accommodation) redevelopment projects at Nauroji Nagar, Netaji Nagar, Sarojini Nagar, Mohammadpur, Sriniwaspuri, Kasturba Nagar and Thyagaraj Nagar.

The company said the monetisation model supports project completion timelines and financial obligations while enabling large-scale urban redevelopment.

“With only limited inventory remaining, the second phase of e-auction presents a rare chance for corporates to own their landmark commercial space,” NBCC said.

The company added that the scale of participation, price discovery and conversion rates achieved reflect growing investor interest in government-backed commercial real estate projects.