Five of the eight towers at Bharat Business Park in New Delhi’s Sarojini Nagar have been sold for ₹5,779 crore, covering about 14 lakh sq ft of the project’s total 23.44 lakh sq ft super built-up area, public sector company National Buildings Construction Corporation Limited (NBCC) official said on Friday.
The auction took place on March 8 after Prime Minister Narendra Modi laid the foundation stone for several infrastructure projects in the national capital. The building is expected to be ready in another two years.
Russian bank Sberbank bought two out of the five towers, an NBCC official said.
The ₹5,779 crore will be used to finance various ongoing redevelopment works of seven GPRA (General Pool Residential Accommodation) projects at Nauroji Nagar, Netaji Nagar, Sarojini Nagar, Mohammadpur, Sriniwaspuri, Kasturba Nagar and Thyagaraj Nagar.
According to officials, old government quarters in the DIZ area (Gole Market) and Andrews Ganj will be taken up for redevelopment under the same model.
NBCC said the average sale rate in the e-auction was recorded at 5% above the reserve price.
“The strong participation and competitive bidding led to sell-out of inventory across multiple towers and floors, reaffirming the attractiveness of the project as a premium commercial destination in South Delhi,” an NBCC official said.
Designed with a strong focus on energy efficiency and sustainability, Bharat Business Park (BBP) will feature solar power systems, solar street lighting, energy-efficient chillers, and an intelligent Building Management System (BMS) for optimised operations. The project incorporates a modular rainwater harvesting system, advanced energy monitoring, EV charging infrastructure, and a Sewerage Treatment Plant (STP), among other green features.