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    NBCC to deliver flats in two Amrapali projects in January

    Synopsis

    NBCC also floated tender for completion of work in seven other stuck Amrapali projects, which officials said would bring relief to at least 9,000 buyers. The last date for submitting bids is December 26.

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    (This story originally appeared in on Nov 26, 2019)
    Noida: Nearly a year after the Supreme Court ordered NBCC to complete the unfinished projects of the embattled Amrapali Group, the state-run construction company said on Monday that it would hand over apartments in Eden Park and Castle — the first two of the 16 stalled projects — in January.

    NBCC also floated tender for completion of work in seven other stuck Amrapali projects, which officials said would bring relief to at least 9,000 buyers. The last date for submitting bids is December 26.

    “We have completed 10 pending flats in Castle and seven in Eden Park housing projects. Work on firefighting equipment, sewage treatment plant and the final paint work in some of the flats are on the verge of completion. We will hand the flats to the Supreme Court-appointed receiver in January,” said a NBCC spokesperson.

    The projects for which the tender was floated on Monday are — Centurion Park in Techzone 4, Silicon City phases 1 & 2 in Sector 76, Zodiac in Sector 120, Sapphire phases 1 & 2 in Sector 45, and Princely Estate in Sector 76. The total value of the tender is Rs 562 crore.

    Of 42,000 buyers stuck in Amrapali’s pending projects in Noida and Greater Noida since the past decade, some 14,000 have got possession of their flats and are at present awaiting registration through tripartite agreements between the SC receiver, R Venkatramani, Noida Authority and themselves.

    The Supreme Court had in January ordered NBCC to complete the stalled projects of Amrapali before formally cancelling the registration and land lease deeds of the real estate company in July this year.

    The combined dues of the banks and the development authorities in the twin cities runs into around Rs 8,000 crore and the court had in July restrained them from staking any claim in the housing projects, holding that the dwellings that have been constructed or are to be completed belonged to the homebuyers.

    “Amrapali Group made false promises to lure the public to invest in its projects, purposefully delayed construction, cheated home-buyers for the title of flats and trapped homebuyers in rental returns,” the court had said, slamming the builder for floating several companies and used funds to infuse capital in other entities.

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