New Launch - India Real Estate Report 2026.
NBCC (India) Ltd is planning a fresh e-auction of 262 ultra-luxury apartments in Delhi's Chanakyapuri area.
The move comes days after the state-owned company cancelled its earlier auction for administrative reasons.
Sources cited by Hindustan Times said the fresh tender could be issued within the next few days.
Apartments Are Located at Avenue Towers
The apartments are part of Avenue Towers on Africa Avenue in Sarojini Nagar, near Chanakyapuri.
Each apartment has a saleable area of more than 4,000 sq ft.
The earlier auction offered the apartments on a freehold basis.
NBCC had announced the original e-auction in July 2026.
Fresh Tender May Include New Restrictions
According to sources, NBCC is planning to retender the apartments with certain restrictions.
The proposed changes are intended to benefit genuine end-users.
Sources also expect interest from high-net-worth individuals, professionals and business owners.
However, the revised eligibility conditions and other auction terms have not yet been officially released.
Earlier Auction Was Cancelled
NBCC cancelled the previous e-auction through a notice dated August 19, 2026.
The company cited administrative reasons for the cancellation.
It also said that the Earnest Money Deposit and Auction Processing Fee would be refunded to applicants.
The refunds were to be made within three working days from the date of the cancellation notice.
Apartments Were Priced Above ₹15 Crore
The earlier auction had a starting price of more than ₹15 crore per apartment.
The project comprises 262 four-bedroom apartments spread across nine towers.
Each tower has a ground floor and 10 upper floors.
The towers are connected through skywalks and include shared amenities such as a clubhouse and landscaped open spaces.
Also Read: NBCC to Build New Andhra Pradesh Bhavan in Delhi
Auction Proceeds to Support Government Housing Redevelopment
NBCC had expected the earlier auction to generate approximately ₹4,400 crore.
The proceeds are intended to support the redevelopment of government residential colonies in Delhi.
These include General Pool Residential Accommodation colonies in Sarojini Nagar and Netaji Nagar.
Other CPWD residential colonies, including Sriniwaspuri and Kasturba Nagar, are also part of the redevelopment programme.
Also Read: India to Build 1,008 Affordable Homes in Seychelles
New Auction Terms Are Yet to Be Announced
The fresh auction will not necessarily follow the terms of the cancelled process.
Prospective buyers will need to review the new tender document once NBCC publishes it.
Details such as the revised reserve price, eligibility requirements, payment terms and auction schedule have not been officially confirmed.
The proposed relaunch therefore remains subject to the issuance of the new tender.
If the fresh auction proceeds as planned, the 262 apartments will return to the market as a major ultra-luxury housing offering in central Delhi.
Enjoyed this update? Visit PropTech Pulse for more real estate news, investment insights and property market trends.
