NBCC Avenue Towers Residential Project: The controversy over NBCC's cancellation of bids for 49 luxury flats in its Avenue Towers project in Sarojini Nagar has reached the Delhi High Court, which has issued a notice to the state-run builder and sought its reply within two weeks. The next hearing is set for January 12.At the centre of the dispute is a charge of selective cancellation. Buyers whose bids were accepted, and in some cases publicly announced as the highest, say the National Buildings Construction Corporation has arbitrarily scrapped their bids for what it calls "administrative reasons".Also read | <a href="https://www.wionews.com/india-news/delhi-kia-showroom-fire-woman-falls-trying-to-escape-shocking-viral-video-raise-fire-safety-concerns-watch-1794050054122">Delhi Kia showroom fire: Woman falls trying to escape, shocking viral video raise fire safety concerns | WATCH</a><h2>How the auction unfolded</h2>NBCC opened 262 residential units for sale in July, with the reserve price for super built-up area fixed at Rs 37,161 per square foot. One party bid for all 262 units, while a second bid for 70 to 80 flats. Very few applicants bid for more than one flat.On August 19, NBCC abruptly cancelled the entire auction process, citing administrative reasons. It invited fresh bids for the 262 units on October 3, 2026, then cancelled the auction of 17 flats on the same grounds. On October 28, the company cancelled bids from successful buyers who had made the highest offers.Also read | <a href="https://www.wionews.com/india-news/supreme-court-issues-contempt-notice-to-kerala-congress-committee-over-post-targeting-cji-surya-kant-1793959800144">Supreme Court issues contempt notice to Kerala Congress committee over post targeting CJI Surya Kant</a><h2>The buyers' questions</h2>Buyers argue the process lacked transparency and fairness, pointing to the fact that the auction was held, bids were made, and the names of successful bidders were announced before the cancellations came. Among the questions raised:- What was the basis for cancelling bids after winners had been declared? - Why are bids being cancelled selectively? - Why was the auction cancelled again and again? - When bids were above the fixed reserve price, how can the auction be cancelled? - Why is no proper reason being given for the cancellation?Two to three buyers have moved the High Court over the cancellations. After hearing their complaint, the court issued a notice to NBCC and asked it to file its reply within two weeks.<h2>What is at stake?</h2>Avenue Towers sits in one of Delhi's most expensive neighbourhoods, and each flat costs more than Rs 15 crores (nearly USD 15,95,000). All apartments are 4-BHK, with carpet areas ranging from 2,518 to 2,598 square feet. The project includes a 50,000-square-foot clubhouse and three covered car parks per unit and is spread over 8.89 acres with nine buildings and 262 units. The 10-storey buildings come with luxury amenities throughout.

The row over NBCC's cancellation of bids for 49 luxury flats in Sarojini Nagar's Avenue Towers has reached the Delhi High Court, which has issued a notice to the PSU and sought a reply in two weeks. Buyers allege selective cancellations after winners were announced. Read the full story here.

NBCC Avenue Towers Residential Project: The controversy over NBCC's cancellation of bids for 49 luxury flats in its Avenue Towers project in Sarojini Nagar has reached the Delhi High Court, which has issued a notice to the state-run builder and sought its reply within two weeks. The next hearing is set for January 12. At the centre of the dispute is a charge of selective cancellation. Buyers whose bids were accepted, and in some cases publicly announced as the highest, say the National Buildings Construction Corporation has arbitrarily scrapped their bids for what it calls "administrative reasons". Also read | Delhi Kia showroom fire: Woman falls trying to escape, shocking viral video raise fire safety concerns | WATCH How the auction unfolded NBCC opened 262 residential units for sale in July, with the reserve price for super built-up area fixed at Rs 37,161 per square foot. One party bid for all 262 units, while a second bid for 70 to 80 flats. Very few applicants bid for more than one flat. On August 19, NBCC abruptly cancelled the entire auction process, citing administrative reasons. It invited fresh bids for the 262 units on October 3, 2026, then cancelled the auction of 17 flats on the same grounds. On October 28, the company cancelled bids from successful buyers who had made the highest offers. Also read | Supreme Court issues contempt notice to Kerala Congress committee over post targeting CJI Surya Kant The buyers' questions Buyers argue the process lacked transparency and fairness, pointing to the fact that the auction was held, bids were made, and the names of successful bidders were announced before the cancellations came. Among the questions raised: - What was the basis for cancelling bids after winners had been declared? - Why are bids being cancelled selectively? - Why was the auction cancelled again and again? - When bids were above the fixed reserve price, how can the auction be cancelled? - Why is no proper reason being given for the cancellation? Two to three buyers have moved the High Court over the cancellations. After hearing their complaint, the court issued a notice to NBCC and asked it to file its reply within two weeks. What is at stake? Avenue Towers sits in one of Delhi's most expensive neighbourhoods, and each flat costs more than Rs 15 crores (nearly USD 15,95,000). All apartments are 4-BHK, with carpet areas ranging from 2,518 to 2,598 square feet. The project includes a 50,000-square-foot clubhouse and three covered car parks per unit and is spread over 8.89 acres with nine buildings and 262 units. The 10-storey buildings come with luxury amenities throughout.

The row over NBCC's cancellation of bids for 49 luxury flats in Sarojini Nagar's Avenue Towers has reached the Delhi High Court, which has issued a notice to the PSU and sought a reply in two weeks. Buyers allege selective cancellations after winners were announced. Read the full story here.

NBCC Avenue Towers controversy: Sarojini Nagar luxury flats bid cancellation row reaches Delhi High Court, notice issued to PSU

nbcc-avenue-towers

Nbcc Avenue Towers, News on Nbcc Avenue Towers, stories on Nbcc Avenue Towers, articles on Nbcc Avenue Towers, Nbcc Avenue Towers stories at Wion, Nbcc Avenue Towers news, Nbcc Avenue Towers latest news

nbcc avenue-towers

NBCC Avenue Towers controversy: Sarojini Nagar luxury flats bid cancellation row reaches Delhi High Court, notice issued to PSU