₹15 crore flats in Delhi? NBCC to auction 262 luxury homes near Diplomatic Enclave

NBCC (India) Limited is set to auction 262 luxury apartments through an e-auction in Delhi's Chanakyapuri area, with the starting price of each flat pegged at over ₹15 crore.

Apartments are part of NBCC's Avenue Tower project in Sarojini Nagar, situated near the diplomatic enclave.

The sale is expected to generate nearly ₹4,400 crore. The proceeds from the auction will be used to fund the redevelopment of General Pool Residential Accommodation (GPRA) colonies, including Sarojini Nagar, Netaji Nagar, Sriniwaspuri and Kasturba Nagar, the report stated. The redevelopment is being carried out under a self-financing model, enabling the government to modernise ageing residential colonies without placing an additional burden on the public exchequer.

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E-auction timeline

Interested buyers must submit the earnest money deposit (EMD) by July 30, while a pre-bid meeting has been scheduled for July 24. The online e-auction will take place on July 31, with apartments being allotted to the highest bidders.

Premium residences 

The Avenue Towers project comprises 262 four-bedroom apartments spread across nine residential towers, each rising to 10 storeys. Every floor will have two to three apartments connected through skywalks, along with access to a common clubhouse and landscaped open spaces.

The apartments will be offered in three configurations, with saleable areas of approximately 4,200 sq ft, 4,300 sq ft and 4,700 sq ft, while carpet areas range between about 2,518 sq ft and 2,598 sq ft. Each apartment will also come with three dedicated parking spaces.

According to the project brochure, Avenue Towers has been designed as a sustainable green residential development featuring a 50,000-square-foot clubhouse, sky gardens, landscaped greens, an open-air gym, yoga deck, residents' lounge, pet park, spacious balconies and terraces, tower-specific entrance lobbies, drop-off porches and a floor-to-floor height of 3.22 metres.

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Project completion 

The project has already received registration under the Real Estate Regulatory Authority (RERA), and NBCC expects construction to be completed within the next two years. The Avenue Towers development forms a key part of the company's broader land monetisation strategy to finance the redevelopment of Delhi's government housing colonies.

The larger GPRA redevelopment programme, estimated at around ₹32,000 crore, aims to replace 12,970 old government quarters with 21,083 modern residential units, while also creating additional commercial spaces, social infrastructure and sustainable urban amenities across the capital.