NBCC-Amrapali Group Update: The Supreme Court had entrusted NBCC with the task of completing the stalled housing projects of Amrapali Group.
Amrapali Homebuyers Update: Public sector construction company NBCC has completed the construction of about 25,000 stalled flats of Amrapali Group and has raised Rs 3,177 crore so far by selling 6,686 flats of home buyers who could not pay the dues. This information has been given by NBCC in the Supreme Court.
The Supreme Court had entrusted NBCC with the task of completing the stalled residential projects of Amrapali Group. This information has been given in the latest status report presented before a bench of Justice Bela M Trivedi and Justice Satish Chandra Sharma by Attorney General R Venkataramani, who was appointed ‘Court Receiver’ in this case. In August 2021, after giving a fair opportunity to the home buyers who could not repay the loan, NBCC was allowed to sell the unsold flats till now.
Venkataramani said, “The ‘Court Receiver’ has released 4,959 unsold flats to NBCC for sale. Out of these, 4,733 units have been sold, whose total sale value is Rs 2,617 crore. Out of these, Rs 2,165 crore has been received till January 15, 2025. Venkataramani said that 1,953 units of ‘defaulter’ and ‘registered but not paying’ category have also been issued to NBCC for sale. These units have been sold at a total sale price of Rs 1,244 crore.
By combining these two categories, NBCC has sold a total of 6,686 flats, whose total sale value is Rs 3,861 crore. Out of these, a total payment of Rs 3,177 crore has been received. The Attorney General said that NBCC completed the construction of a total of 25,000 flats from 2020 to December 2024. These flats are included in various projects of Amrapali Group located in Noida and Greater Noida areas.
After the construction of flats remained stuck for many years, the Supreme Court had entrusted the responsibility of completing the construction to the government construction company NBCC. A court receiver was also appointed to monitor this process.
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