By October, NBCC to start work on all 19 Amrapali projects – ET RealEstate

NOIDA: The government-backed National Buildings Construction Corporation (NBCC) said on Sunday it had doubled its workforce from 6,000 to 12,000 to expedite the completion of 19 pending Amrapali projects. While work on 17 projects is underway, one more was handed over to a construction company last week. The last one is expected to be handed over to a company by the end of October.

Since these 19 projects are in various stages of completion, NBCC would take from nine to 36 months to finish construction. In total, 43,518 flats are left to be handed over to buyers. The responsibility of constructing Dream Valley Phase 2 was handed over to a firm last week. The 19th pending project β€” Leisure Valley Verona Heights β€” is likely to given to a construction firm on October 28.

While the company managing Dream Valley has to construct 8,302 flats, Verona Heights has 4,964 flats pending. In projects that are partly complete and residents have already occupied flats, work on finishing them will go on simultaneously.

β€œWe will be handing over the keys simultaneously and not wait for the entire project to complete. By October, we expect to award the completion of Leisure Valley Verona Heights too. Before Diwali, work on all pending projects should be in progress,” said PK Gupta, the NBCC chairman.
By October, NBCC to start work on all 19 Amrapali projectsNBCC has already handed over Eden Park and Castle projects. In the 17 ongoing projects, the government company has to roughly complete 30,715 flats. In the two other projects in which NBCC has now started work or will do so in a month, it has to deliver around 13,000 flats.On August 7, NBCC had announced it would complete and hand over at least 150 flats every month. On Sunday, the company informed that by the end of September, it had handed over 463 flats. NBCC had started handing over flat keys since July.

β€œWe welcome this announcement by the company. But just as it is pushing for completion, the quality of construction is equally important for us. Attention should be paid to it as well,” an Amrapali buyer said.

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NBCC starts construction work on 16,000 Amrapali flats – ET RealEstate

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NEW DELHI: State-run NBCC (India) has started construction of over 16,000 flats of Amrapali on Monday, after the Bhumi Poojan.

The projects where construction was started include Smart City-Golf Homes, Kingswood, Leisure Park (Ph-1, Ph-2 and River view), Centurion Park- Terrace Homes and Tropical Garden, Leisure Valley- Adarsh Awas Yojna and Dream Valley- Enchante.

In addition of this, the tenders for projects Leisure valley- Varona Height and Dream valley Ph-2 are in process.

β€œOver 6000 work force has been deployed on these projects, which is likely to double in next 2 months. The progress of work was badly affected by COVID19 and following all protocols and precautions, the work is now progressing well to some extent,” said P K Gupta, CMD of NBCC.

The work on eight projects in Noida involving 11741 units in Silicon-1&2, Silicon-Crystal Homes, Sapphire I &II, Princely, Platinum/Titanium and Zodiac and three projects in Greater Noida- Centurian Park-Low rise and Valley, Leisure Valley Villa and Dream Valley Villas involving 2666 units are in progress.

NBCC said that they have started handing over flats to homebuyers and is likely to handover around 160 flats in the first week of September.

β€œAll these works are likely to be completed from 9 months to 36 months in all respect. The completion of projects is entirely depends upon timely deposit by homebuyers and arrangement of funds from other sources,” Gupta added.

Over 40,000 homebuyers of Amrapali will have to start paying the remaining amount from August, as per the latest payment schedule prepared by the state-run NBCC (India).

NBCC has divided the stuck Amrapali projects in three categories and delivery of flats will start within six months.

As per the schedule, accessed by ET, over 10000 homebuyers, who will get the possession by June 2021, will have to pay the remaining amount in four instalments of 25%.

Rest of the homebuyers are allowed to pay in 10 instalments of 10% as per the delivery schedule.

The new payment schedule has come in the wake of protest by homebuyers. In the latest order dated July 10, SC had directed all the homebuyers to make the payment in accordance with the fund flow requirement of the NBCC.

β€œIn the next three years, we are expecting Rs 3200 crore from buyers and with partial funding starting from August, we expect to follow the construction schedule and deliver all flats by February 2023. About seven projects that are to be completed by June 2021, have a due of Rs 200 crore and they will pay in four instalments,” said a NBCC official.

NBCC is involved in the completion of 23 housing projects by Amrapali Developers. The estimated cost of completion of all Amrapali projects is about Rs 8,500 crore.

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