2 weeks ago
NBCC Cancels E-Auction of 262 Luxury Homes in Delhi
NBCC planned to auction 262 homes in Chanakyapuri, New Delhi.
The homes are in a building called Avenue Towers.
NBCC has now cancelled that auction.
People who applied will get back the money they deposited.
They will also get back the auction processing fee.
The refunds should reach their bank accounts within three working days of the August 19 notice.
NBCC said it was returning the processing fee as a goodwill decision.
The company did not explain the administrative reasons in detail.
It has asked people to check its website for future updates and a possible new auction.
NBCC cancelled the e-auction of 262 luxury residential apartments at Avenue Towers.
The apartments are located on Africa Avenue in Chanakyapuri, New Delhi.
Applicants will receive full refunds of their Earnest Money Deposits and Auction Processing Fees.
Refunds are due within three working days of NBCC’s August 19 notice.
NBCC cited administrative reasons but has not announced a new auction date.
- Who
- NBCC and applicants who sought to buy the residential apartments.
- What
- NBCC cancelled the e-auction of 262 freehold residential apartments and ordered refunds of application-related payments.
- Where
- Avenue Towers on Africa Avenue in Chanakyapuri, New Delhi.
- When
- The cancellation was announced in an August 19 notice; refunds were to be made within three working days of that notice.
- Why
- NBCC cited administrative reasons, without providing further details.
Key facts
- Units involved
- 262 luxury residential apartments
- Project
- Avenue Towers
- Location
- Africa Avenue, Chanakyapuri, New Delhi
- Sale basis
- Freehold
- Refunds
- Earnest Money Deposits and Auction Processing Fees will be refunded in full
- Refund timeline
- Within three working days of the August 19 notice
- Future auction
- No fresh e-auction date has been announced
Sources
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