State-owned NBCC (India) Ltd has sold 417 residential units in Noida and Greater Noida for ₹1,045.4 crore through an e-auction, as part of its court-mandated mandate to complete stalled housing projects of the erstwhile Amrapali Group.

The sale, conducted under the supervision of the Supreme Court-appointed Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), will help fund construction and delivery of thousands of pending homes while strengthening NBCC’s execution roadmap for the long-delayed projects.

NBCC was asked to complete 38,000 flats and hand it over to homebuyers.

In a regulatory filing on Tuesday, the company informed that it has sold 417 residential units at Aspire leisure valley in Greater Noida (W), and Aspire Silicon City, Ph-IV at Sec-76, Noida, UP through e-auction at a total sale value of ₹1,045.40 crore.

NBCC will get marketing fee of 1 per cent of sale value, it added.

The company did not disclose the name of buyers.

Apart from the task of completing 38,000 units, NBCC is developing more than 10,000 apartments in five ongoing projects of Amrapali in Greater Noida after the local authority allowed development on unused land parcels.

NBCC, which is into project management consultant (PMC) and real estate businesses, would be able to finance the construction cost through development and sale of these extra units.