News: NBCC to Auction 262 Luxury Flats at Sarojini Nagar-18-07-2026
State-owned NBCC (India) Limited will e-auction 262 ultra-luxury apartments in its flagship Avenue Towers project at Sarojini Nagar, near Delhi’s Chanakyapuri, with prices expected to start from over Rs 15 crore per unit, sources said.
The e-auction is scheduled for July 31. The pre-bid meeting is on July 24 and the earnest money deposit (EMD) must be submitted by July 30. The sale is expected to generate approximately Rs 4,400, the sources said, with units going to the highest bidders.
Proceeds will fund the redevelopment of General Pool Residential Accommodation (GPRA) colonies in Sarojini Nagar and Netaji Nagar and other CPWD colonies such as Sriniwaspuri and Kasturba Nagar. The project is part of NBCC’s land monetisation initiative, meant to finance such redevelopment without burdening the public exchequer.
Avenue Towers will have nine towers of G+10 storeys with two to three apartments per floor, connected by skywalks. The four-bedroom units come in saleable areas of approximately 4,200 sq ft, 4,300 sq ft and 4,700 sq ft, with carpet areas of 2,518.35 sq ft, 2,552.68 sq ft and 2,597.78 sq ft, and three dedicated car parking spaces each. The project brochure describes a self-sustainable green building with a 50,000 sq ft clubhouse, sky gardens, open-air gym, yoga deck, residents’ lounge, pet park and a floor-to-floor height of 3.22 metres.
The under-construction project has RERA registration and NBCC expects to finish it within two years. Payment will be construction-linked: 2% at booking, 8% subsequently, 10% after three months, and then stage-wise instalments.
The redevelopment of seven GPRA colonies, estimated at Rs 32,000 crore, will convert 12,970 old quarters into 21,083 dwelling units and raise built-up area from about 7.50 lakh sq. m. to about 46.50 lakh sq. m. Works worth approximately Rs 15,000 crore are complete, the sources said. E-auctions of commercial space at the World Trade Centre and Bharat Business Park in Nauroji Nagar and the Commercial Complex at Sarojini Nagar have yielded about Rs 22,000 crore.
