Some winning bidders for NBCC Avenue Towers flats in Sarojini Nagar, south Delhi, have gone to the Delhi High Court. The state-owned company cancelled the auction for 49 apartments, each priced at more than ₹15 crore, after it had already announced the highest bidders.
NBCC cancelled the bids on 28 October, citing "administrative reasons", according to a Times of India report published by ET Realty on 8 November. The bidders say the units were taken out selectively and question the reason.
NBCC Avenue Towers flats: what happened
NBCC first offered 262 apartments in July at a reserve price of ₹37,161 per sq ft of super built-up area. Super built-up area includes a share of common areas such as lobbies and the clubhouse.
According to official documents cited in the report, one party bid for all 262 units and some others applied for 70–80 units each. The e-auction was rescheduled twice for "technical reasons" and then cancelled on 19 August for "administrative reasons".
Bids were invited again for 262 flats on 3 October. NBCC withdrew 17 of them and offered the remaining 245 with a "One PAN – One Unit" condition. A source told the newspaper the change was meant to help genuine end-users buy at a fair price.
Why the 49 bids were dropped
The Times of India reported that the winning bids for the 49 cancelled units were "close to or within 10% of the reserve price". Sources said the bids were cancelled after this was pointed out, and that the government had been puzzled by a pattern in bidding by individual players.
"All bidders who quoted the highest price followed the due procedure," one buyer told the paper, adding that some of them were going to the high court against the cancellation.
The ₹5,191 crore sale
In a stock-exchange filing dated 29 October, NBCC said it had sold apartments spread over about 8.80 lakh sq ft at Avenue Towers, on Africa Avenue Marg, for around ₹5,191 crore through the e-auction. It will earn a marketing fee of 1% of the sale value, about ₹51.91 crore.
The filing did not say how many apartments were sold or who bought them, PSU Watch reported. It is not clear from public disclosures how the 49 cancelled units fit into that total.
Industry insiders have called Avenue Towers the biggest high-end housing project open to private buyers in central Delhi. All the apartments are four-bedroom units with carpet areas of 2,518–2,598 sq ft and three covered parking spaces each, in a nine-tower gated complex with a 50,000 sq ft clubhouse.
What it means for you
For buyers who bid in government auctions, the episode shows that being declared the highest bidder does not guarantee a sale. Read the auction terms for clauses that let the seller cancel without giving reasons, and keep records of every bid and payment.
For Delhi's luxury market, the outcome of the court case may shape how NBCC sells the 49 flats. It may also show whether winning bids close to the reserve price will be accepted in future government sales.
Sources
- ET Realty: NBCC cancels bids for 49 luxury flats after declaring winners; buyers move HC — published 8 November 2026.
- PSU Watch: NBCC sells Avenue Towers apartments in Delhi for Rs 5,191 crore through e-auction — published 29 October 2026.
Frequently asked questions
Where is NBCC Avenue Towers?
Avenue Towers is on Africa Avenue Marg in Sarojini Nagar, south Delhi. It is a gated project of nine towers with four-bedroom apartments.
What is the price of NBCC Avenue Towers flats?
The apartments are priced at more than ₹15 crore each. The reserve price in the July auction was ₹37,161 per sq ft of super built-up area.
Why did NBCC cancel bids for 49 Avenue Towers flats?
NBCC cited "administrative reasons". The Times of India reported that the winning bids for these units were close to or within 10% of the reserve price.