NBCC (India) Limited has announced the cancellation of its e-auction for 262 luxury residential units located at Avenue Towers on Africa Avenue, within New Delhi’s diplomatic enclave of Chanakyapuri. The public sector undertaking cited “administrative reasons” for the abrupt decision.
The cancellation notice, issued on Wednesday, August 19, 2026, stated that the e-auction, originally invited under a July 17, 2026 Notice Inviting Offer, has been withdrawn. NBCC exercised a right reserved in its original application document to do so.
Refunds Initiated for Bidders
In light of the NBCC e-auction cancellation, all applicants will receive a full refund of their Earnest Money Deposit (EMD) and the Auction Processing Fee. While the original terms typically stated the processing fee was non-refundable, NBCC confirmed it is refunding this amount “ex gratia and in good faith, without admission of any liability.”
Refunds are slated to be processed and credited to the bank accounts provided by applicants within three working days from the date of the August 19 notice. NBCC emphasized that this decision to refund the processing fee does not set a precedent for any future tenders, auctions, or processes conducted by the company.
Future of Avenue Towers Units Undetermined
NBCC has not yet specified the exact administrative reasons behind the cancellation, nor has it announced a new date for a fresh e-auction of the Chanakyapuri properties. Interested bidders are advised to regularly check the NBCC website for further updates regarding the Africa Avenue project and any future sale of these residential units.