NBCC sells office space worth Rs. 520 crore to 2 PSUs.

State-run NBCC (India) Ltd. has sold office space worth ₹520 crore in South Delhi to two public sector companies in the midst of a nationwide lockdown.

The premium space was sold at the World Trade Centre (WTC) that is coming up at South Delhi’s Nauroji Nagar as part of government’s redevelopment plan.

Rail Vikas Nigam Ltd., an Indian Railway PSU, has taken three floors while Assam-based Numaligarh Refinery (NRL) has taken one floor.

The integrated business hub at Nauroji Nagar will have independent offices with direct connectivity from airport, railway and metro stations, retail outlets, food court, conference facilities, business centres, art galleries and a three-layered basement parking for nearly 8,000 cars.

“We used to have liaising office in Delhi since 1993 but this is the first time we will have a large office space in the heart of Delhi. This will help us coordinate better with the government,” said an NRL spokesperson.

RVNL’s chairman and managing director did not respond to call and text messages.

According to another person familiar with the matter, NBCC has to sort out some Real Estate Regulatory Authority (RERA)-related issues and the deal will be formally announced once they are resolved. The project was on hold for 18-months and in February this year, the Delhi High Court vacated the stay on construction of a commercial hub.

ET