India, April 10 -- NBCC, the government's construction arm, has announced that it has sold 1,185 residential units for Rs.1,504.69 crore through an e-auction in Greater Noida.

"NBCC (India) Ltd. has successfully e-auctioned 1185 residential units at Aspire Dream Valley, Greater Noida (W) through an e-auction, garnering a total sale value of Rs. 1504.69 cr. The high-stakes auction witnessed an overwhelming response, with bids significantly exceeding the reserve price. The fund shall mitigate the fund requirement of ongoing projects including bank loan payment," the company said in a statement.

The sale will help complete the stalled Amrapali Projects and fulfil the dreams of home buyers, it said.

In a regulatory filing, the company said...