PSU Grid Controller Splurges on AIIMS Redevelopment Commercial Space

In a groundbreaking development, NBCC India Limited has successfully e-auctioned 61,000 square feet of commercial built-up area in Ayurvigyan Nagar, South Delhi, for an impressive sum of Rs 272.68 crore. This auction saw Grid Controller of India Ltd., a PSU under the Ministry of Power, secure the prime commercial space by bidding at a rate of Rs 36,000 per square feet.

Redevelopment Project for AIIMS Delhi

It is important to note that the commercial space auctioned off by NBCC is part of the larger redevelopment project for the All-India Institute of Medical Sciences (AIIMS) in Delhi. This ambitious undertaking aims not only to provide AIIMS employees with world-class facilities but also to cater to the rapidly growing housing needs of the faculty and staff members.

Introducing “Grande Rue”

The commercial space in Ayurvigyan Nagar, now sold to Grid Controller of India Ltd., is meticulously designed to accommodate the highest standards of modern infrastructure. Dubbed as “Grande Rue,” this innovative project comprises three levels of basement parking capable of housing up to 150 cars, as well as a ground+3 storey structure designated for commercial utilization. This development promises to revolutionize the prevailing commercial landscape of South Delhi.

Strategic Location and Connectivity

Ayurvigyan Nagar enjoys strategic positioning, as it boasts excellent connectivity to major transportation networks and is ideally situated in the heart of Delhi’s bustling business district. By acquiring this commercial space, Grid Controller of India Ltd. has strategically positioned itself to take full advantage of the area’s thriving commercial opportunities.

A Win-Win Deal

The successful auction of the commercial built-up area in Ayurvigyan Nagar signifies a win-win scenario for all parties involved. Not only has Grid Controller of India Ltd. acquired a lucrative commercial space, but NBCC India Limited can now utilize the funds raised from this sale to further strengthen its commitment to the development of housing for AIIMS Delhi’s employees.

Contributing to Ayurvigyan Nagar’s Development

This landmark initiative not only addresses the housing needs of AIIMS employees but also lays the foundation for the overall development and upliftment of the Ayurvigyan Nagar area. The success of NBCC’s redevelopment project, “Grande Rue,” represents a testament to the company’s unwavering dedication to urban excellence. By breathing new life into this commercial space, NBCC India Limited is poised to create a lasting legacy in South Delhi. “This project, Grande Rue, is set to become a landmark in South Delhi, reflecting our dedication to excellence in urban development,” expressed KP Mahadevaswamy, CMD of NBCC India Limited. With such visionary leadership at the helm, it is clear that the efforts to transform Ayurvigyan Nagar into a thriving commercial hub are only just beginning.

Sumit Mondal Content Analyst at Square Yards
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