NBCC to start work on three more Amrapali projects

Supreme Court constituted Committee has allowed NBCC to start work on Leisure Park Phase one and two, Leisure Park- River View and Kingswood in Smart City, comprising 4489 units in valued at R 1046 cr. Last month, NBCC had started the process of completing nine housing projects of the Amrapali […]

Supreme Court constituted Committee has allowed NBCC to start work on Leisure Park Phase one and two, Leisure Park- River View and Kingswood in Smart City, comprising 4489 units in valued at R 1046 cr.

Last month, NBCC had started the process of completing nine housing projects of the Amrapali Group.

These projects included eight projects in Greater Noida – Leisure Valley Villas, Verona, Adarsh Awas Yojna, Golf Homes, Dream Valley Ph 1 Villas & Ph 2, Enchante, Terrace Homes and Tropical Garden in Centurian and Crystal Homes in Silicon at Noida, all comprising 27223 Houses and valuing R 5769 Cr.

Supreme Court, about a year ago, asked NBCC to start execution of two stalled projects to begin with, namely- Eden Park (Noida) and Castle (Greater Noida), comprising 618 Units which the company has already completed and handed over. Apart from this, NBCC is presently executing further 8 projects- 7 at Noida and one Greater Noida having a total of 12169 Units and valued at Rs. 634 crore.

More than 40,000 buyers were stuck with under-constructed projects, some over a decade, after the Amrapali Group was dragged to court for alleged fraud and money laundering.

The projects that the Supreme Court asked NBCC to take over at Noida and Greater Noida are expected to cost Rs 8,361 crore to complete.

“NBCC has started the process of tendering for all these projects even during the lockdown period. Tenders for further projects are in the process of floating and will be invited shortly irrespective of lockdown opening or not,” NBCC spokesperson said.

Source Article

Lois C. Ferrara

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