In a significant move within the NCR property landscape, AU Real Estate has acquired 446 residential units in Sector 76, Noida, for a total of ₹1,468 crore. The acquisition was completed via an e-auction conducted by NBCC (India) Limited, the government-run firm responsible for completing unfinished projects of the now-defunct Amrapali Group.
This bulk purchase is part of NBCC’s ongoing efforts under the supervision of the Supreme Court, which mandated the completion of over 38,000 delayed housing units left abandoned by the Amrapali Group. To facilitate this, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was created, entrusting NBCC with the task of executing and delivering these projects.
The purchased flats are part of the “Aspire Silicon City” development — an 8.5-acre residential project that comprises around 600 total units. Through the recent e-auction, NBCC sold 446 of these units. AU Real Estate, a relatively new entrant in the industry founded in 2022, secured the rights to these flats, aiming to resell them to individual buyers and investors.
Ashish Agarwal, Director of AU Real Estate, confirmed the deal and shared that the company will bring the units to market soon, launching them in phases. The total built-up area spans approximately 13.85 lakh square feet. Though the base price during the auction was ₹10,500 per square foot, the final purchase value was slightly higher due to bidding dynamics.
“We plan to release the flats in a phased manner to ensure steady market response,” Agarwal said. “Our payment to NBCC is structured in stages, aligned with the project’s construction milestones. Even if we’re unable to sell all units immediately, we’re committed to making the payments as scheduled.”
The government’s approach of auctioning unsold inventory in bulk is part of a broader strategy to recover funds and speed up delivery of stalled projects. To date, NBCC has raised nearly ₹9,700 crore by selling over 4,400 flats through similar auctions across five different developments. Prominent builders like Gaurs Group, Mansan Builders, and Happy Valley Infra have also participated in previous bidding rounds.
AU Real Estate’s acquisition of these 446 units represents a strong bet on the recovering Noida Real Estate market. The company already has two projects underway in the Delhi-NCR region and views this latest deal as a major step in its expansion plans.
With renewed focus on project completions, developer accountability, and investor interest, the Aspire Silicon City transaction is a positive signal for homebuyers and a turning point for stalled developments across Noida.
