Amrapali Homebuyers
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The wait will finally be over for thousands of homebuyers who seek possession of their flats in the mid-struck Amrapali housing projects. The NBCC i.e National Building Construction Company which is a State-owned construction company will commence the construction and development work of all these projects from 8th February 2019.

The company is likely to offer possession of 2,643 flats this year.

Recently on Court’s direction, NBCC had a meeting with ML Lahoty, the advocate representing homebuyers and the blueprint for commencing construction work was finalized for multiple housing projects of Amrapali group as nearly 46,000 homebuyers are waiting for possession of their unit.

According to the proposal, the National Building Construction Company will carry out the construction work in a phased manner. In the first phase, NBCC will complete three housing projects that are Sapphire I and Sapphire II in Noida and Castle in Greater Noida. The National Building Construction Company agreed to commence development of these projects with the total cost incurred with the addition of Rs. 77.54 crore.

The company is likely to construct and deliver 2,643 flats.

The Amrapali group launched Sapphire I and II and Castle in April 20111 which NBCC has picked to develop in the first phase.

NBCC also said that the construction and development of Dream Valley and Centurian Park housing project will begin in the second phase soon after the funds will be available. The company is also hopeful to deliver 679 flats in a year’s time.

Earlier, the Supreme Court arrested officials of the Amrapali group and also directed a forensic audit of company’s accounts while asking the firm to stop playing hide and seek. The top officials of the group were kept in a hotel under police detention and were asked to attend office on a daily basis to for handing over documents to the probe team.

NBCC said that the tenders for these projects are finalized and work on the same will be started soon. The company requires only 10% of the total Rs. 77.54 crores in the initial stage to commence construction and monthly payments will later be required, the advocate representing homebuyers said.