NBCC to start work at Amrapali projects in Noida and Greater Noida

NBCC to start work at Amrapali projects in Noida and Greater Noida

November 30, 2019 in Real Estate News

NBCC took over the project in July on the SC orders after homebuyers petitioned it following the Amrapali Group’s failure to deliver around 30,000 flats in 15 projects. The promoters of the Group were jailed, and the court receiver is controlling the firm.

The state-run company NBBC (India) Ltd on Monday floated a tender to hire firms that will finish and deliver flats in seven incomplete housing projects of the Amrapali Group in Noida and Greater Noida.

Once the firms are hired, construction will resume at the projects, NBCC officials said.

NBCC took over the project in July on the Supreme Court’s orders after homebuyers petitioned it following the Group’s failure to deliver around 30,000 flats in 15 projects. The promoters of the Group were jailed, and the court receiver is controlling the firm.

In the first tranche, NBCC has invited firms to compete for tenders to the following projects: Centurion Park in Greater Noida’s sector Techzone-4; Silicon City-I and Silicon City-II in Noida’s sector 76, Zodiac in Noida’s sector 120, Sapphire-I and II in Noida’s sector 45, and Princely Estate in Noida’s sector 76.

According to NBCC, Centurion Park has a budget of Rs 169.27 crore, Silicon City-I Rs 131 crore, Silicon City-II Rs 76.67 crore, Zodiac Rs 65.32 crore, Sapphire-I Rs 21.34 crore, Sapphire-II Rs 59.61 crore and Princely Estate Rs 39.35 crore.

The last date to apply for the tender is December 30, 2019 for five projects— Centurion, Silicon City-I, II, Zodiac and Sapphire-II. The last date for Princely Estate and Sapphire-I is December 26, 2019, officials said.

“We have started the process to hire a construction company to finish and deliver incomplete housing projects of Amrapali in compliance with the Supreme Court directive. Once the construction companies are hired, work at the site will begin immediately as per rules,” said a NBCC official not authorised to speak to media.

On July 23, the Supreme Court had appointed the court receiver to carry out various activities, such as registration of ready flats, accepting money from buyers, selling unsold flats, and ensuring completion of the stuck housing projects. The court gave one month’s time for execution of registry. But later it extended the deadline for three months as more time was required for verification of documents related with the flats. The court receiver said that after the floating of the tender by NBCC, they are arranging the funds.

“We are arranging funds so that the construction can be started at the site and incomplete flats are completed. We are having meetings with all stakeholders to finalise things and pave way for flat registration and construction,” said Supreme Court-appointed receiver, R Venkataramani.

These 16 projects include Sapphire I and II, Silicon City, Princely Estate, Zodiac, Platinum, Castle, Leisure Valley, Centurion and Eden Park, among others, in Noida and Greater Noida. However, around 32,000 flats are yet to be finished or delivered to apartment buyers in these projects, officials said.

“We hope NBCC will select construction company at the earliest as per rules and work will start so that the homebuyers can get justice,” said Venkataramani.

Homebuyers said the government should provide special fund to Amrapali projects.

“We are happy that after Supreme Court order and appointment of court receiver things are moving in positive direction for homebuyers. But we demand that the central and the state government should also provide adequate funds to finish Amrapali flats without delay. Without funds construction will get delayed,” said Abhishek Kumar president of Noida Extension flat owners welfare association that has written to government on the issue.

Sources: www.hindustantimes.com

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