NBCC launches e‑auction for 262 ultra‑luxury flats in Delhi’s Chanakyapuri enclave

New Delhi – The government‑owned builder NBCC (India) Limited has announced an online auction of 262 ultra‑luxury apartments nestled in the leafy Chanakyapuri neighbourhood, right next to the diplomatic enclave. Each flat will start at a little more than ₹15 crore, and the whole package is expected to fetch close to ₹4,400 crore.

Why this matters? The cash raised isn’t just going into NBCC’s balance sheet. It will fund the massive overhaul of the city’s General Pool Residential Accommodation (GPRA) colonies – the old‑fashioned government quarters in Sarojini Nagar, Netaji Nagar, Sriniwaspuri and Kasturba Nagar. The plan follows a self‑financing model, meaning the taxpayer won’t have to foot the bill.

Key dates you need to note – Interested buyers must lodge an earnest money deposit (EMD) by 30 July. A pre‑bid meeting is slated for 24 July, and the actual e‑auction will go live on 31 July, where the highest bidders will walk away with the keys.

The development, dubbed “Avenue Towers”, spreads across nine residential towers, each rising ten storeys high. Every floor hosts two to three apartments, linked by skywalks and sharing access to a 50,000‑sq‑ft clubhouse, sky gardens, an open‑air gym, yoga deck, pet park and other green‑friendly amenities. Think spacious balconies, terraces, and floor‑to‑floor heights of 3.22 metres – all designed with sustainability in mind.

There are three size options on offer: roughly 4,200 sq ft, 4,300 sq ft and 4,700 sq ft of saleable area, while the carpet area runs between about 2,518 sq ft and 2,598 sq ft. Each home comes with three dedicated parking slots, a must‑have in a city where parking is a nightmare.

All units have been registered under the Real Estate Regulatory Authority (RERA), and NBCC projects completion within the next two years. This auction is part of a larger land‑monetisation strategy aimed at financing the ₹32,000‑crore GPRA revamp, which will replace nearly 13,000 dilapidated government quarters with more than 21,000 modern homes, plus commercial spaces and new urban infrastructure.

In short, if you’ve ever dreamed of living just a stone’s throw from embassies, with world‑class amenities at your doorstep, this could be the chance you’ve been waiting for – provided you’re ready to commit a sizable sum and move fast.