Noida: NBCC offers 49 Amrapali flats, 20 sold – ET RealEstate

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NOIDA: State-backed construction company NBCC on Monday sold 20 of 49 flats from different projects of Amrapali through its website.

Buyers had to fill a form and there were provisions for housing loans too. NBCC has a total inventory of around 5,000 flats in Amrapali projects.

While 10 of the 11 flats that were put up for sale at Sapphire II in Sector 45 were sold online, only three of 23 flats at Zodiac in Sector 120 were picked up. The other projects where flats were put up for sale were Sapphire I in Sector 45, Platinum in Sector 119, Silicon City I and II in Sector 76 and Noida Dream Valley Villa in Techzone IV of Greater Noida.

NBCC officials said they had competed 2,060 flats so far, which include 618 units in Noida’s Eden Park and Castle in Greater Noida. “We have completed two projects with 618 flats. These projects are Eden Park in Noida and Castle in Greater Noida. These apart, we have constructed 1,452 flats in other projects. Our next initiative is to start with the tenders for Tech Park, which would need around Rs 339 crore to develop. We are awaiting a sanction from the Court Receiver,” an NBCC official said.

The Supreme Court had on August 2, 2018, directed the construction company to submit a proposal for the completion of Amrapali’s stalled and incomplete projects in Noida and Greater Noida.

These projects had a total inventory of 46,575 flats. NBCC had submitted its detailed proposal in September that year and it was approved by the apex court on July 23, 2019.

The court had also appointed senior advocate R Venkataramani as the receiver to look after the work and organise funds for the completion of the project.

“We have informed the court receiver about the projects we have completed. We can pick up speed if the buyers pay on time,” an NBCC official said.

To expedite completion of the flats, NBCC has given a sub-contract to Noida-based Gaursons, which is supposed to complete 11,000 flats.

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NBCC offers easy payment to Amrapali buyers – ET RealEstate

NOIDA: Amrapali homebuyers awaiting flats will have to start paying their dues in easy instalments from August, as per a payment plan issued by NBCC.

The charter was issued by NBCC in the wake of the July 10 order by the Supreme Court, asking homebuyers to help infuse working capital into the state-owned company. NBCC has said it will start the delivery of the 44,000 pending flats from January 2021.

NBCC 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 entire payment for this category should be made between August 2020 and May 2021. The buyers can pay the dues in four instalments of 25% each.

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.

The buyers have been allowed to pay over 10 instalments of 10% each.

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. The buyers have been allowed to pay in this category between August 2020 and April 2022 in 10 instalments of 10% each.

“In the next three years, we are expecting Rs 3,200 crore from buyers, and with partial funding starting from August. We expect to follow the construction schedule and deliver all flats by February 2023. Seven projects that are to be completed by June 2021, have a due of Rs 200 crore and buyers will have to pay in four instalments,” an NBCC spokesperson said.

Buyers have expressed relief with the easy payment option offered by NBCC.

“The instalments offered to the buyers is a good step. This will ensure that there will be no additional pressure on them,” Shweta Bharti, general secretary of Nefowa, said.

“It’s a reasonable plan but the issue of restructuring the loans and availability of fresh loans needs to be sorted out to ensure that no undue burden is put on the home buyers and they are able to pay their dues to ensure construction of these much-delayed projects,” Mihir Kumar, a lawyer who represents Amrapali buyers, said.

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