NBCC to hand over 200 Amrapali flats a month from August – ET RealEstate

NOIDA: In a huge relief to Amrapali buyers awaiting homes for over 10 years now, state-owned NBCC has said it will try to hand over at least 150-200 flats every month from August, instead of waiting for entire towers to get completed. Executive director of NBCC, Raman Agarwal, told TOI that the company had handed over 61 flats in July and would be delivering another 150 flats to buyers this month.

“Initially, we were working on tower-wise handovers, but then decided to start handing over individual apartments in towers that have liveable conditions and the necessary facilities like two lifts and power back-up. There are many individual towers where some people are already living, so there is no problem in handing over flat keys in those towers,” he said.

“Depending on how much work we can mobilise due to the pandemic, we will be targeting delivery of 150-200 flats on an average per month,” he added.

The Amrapali projects currently in progress are Silicon Valley I, Princely Estate, Sapphire I & II, Zodiac, and Platinum & Titanium. In the coming months, flats are expected to be handed over in Silicon II, Leisure Valley Villas, Dream Valley Villas, Centurion Low Rise, O2 Valley, Golf Homes, Kingswood and Leisure Park, which are almost on the verge of completion, officials said.

“We are making steady progress in Amrapali projects and keys will be handed over to buyers every month,” PK Gupta, CMD of NBCC, added. NBCC had previously promised to begin the delivery of 44,000 pending Amrapali flats from January 2021. This was after the Supreme Court directed the buyers to start paying up their dues, in an order issued on July 10. The completion timeline offered by NBCC is 2023.

Broadly, the company has split the pending projects into three groups. The first group includes Zodiac, Sapphire-I, Sapphire-II, Silicon-I, Princely Estate, Platinum & Titanium, and Leisure Valley Villas. The delivery deadlines of these seven projects are between January 2021 and June 2021.

The second group of projects to be delivered are Dream Valley Villas, Silicon – II, Centurion Park –Lowrise and Centurion Park–O2 Valley. The delivery timeline for these apartments is between February 2022 and July 2023. For this category, buyers will have to pay up between August 2020 and April 2022.

In the third group, NBCC will deliver Centurion Park Terrace Homes, Centurion Park-Tropical Garden, Smart City–Golf Homes, Smart City–Kingswood, Silicon City-Crystal Homes, Leisure Valley–Verona Heights, Leisure Valley–Adarsh Awas Yogna, Dream Valley-Phase-II, Dream Valley-Enchante, Leisure Park I, II and River View. The delivery timeline for this category is from February 2022 to July 2023. NBCC has a budget outlay of Rs 8,500 crore for completion of the Amrapali projects and its receivables from buyers is Rs 3,200 crore.

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