India, Oct. 29 -- State-owned NBCC Ltd has sold 8.80 lakh sq ft of residential real estate through e-auction in the national capital for Rs 5,191 crore, with the average per-sq-ft selling rate nearly 60 per cent higher than the reserve price.

The sale is on behalf of the central Government to fund redevelopment projects across various colonies in the national Capital.

In a regulatory filing on Thursday, the company said it has "successfully sold residential apartments of approximately 8.80 lakh sq ft area at Avenue Towers, Africa Avenue Marg Sarojini Nagar, New Delhi through an e-auction at total sale value of approximately Rs 5,191 crore."

NBCC will get marketing fee of 1 per cent of the sale value.

Delhi-based NBCC, which is into pr...