Over 5,000 pending Amrapali flats up for grabs in Noida – ET RealEstate

NOIDA: State-run construction company NBCC has put up for sale over 5,000 unsold flats at various Amrapali projects in Noida and Greater Noida to help generate revenue for completing the different pending projects of the real estate group in the twin cities.

The sale of 5,229 unsold flats will be conducted by Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), a company floated by NBCC to complete the pending Amrapali projects, under the supervision of the Supreme Court-appointed court receiver. And the sale date is expected to be announced through the website of the court receiver — www.receiveramrapali.in — and nbccindia.com, TOI has learnt.

In Noida, the flats put up for sale are from Sapphire I, Sapphire II, Silicon City 1, Silicon City 2, Princely Estate, Crystal Homes (Sector 76), Heart Beat City 1 & 2, Platinum and Titanium, and Zodiac. In Greater Noida, the units put up for sale are from Castle, Leisure Valley Villas, Leisure Valley-Adarsh Awaj Yojna, Leisure Valley-Verona, Leisure Park phases 1&2, Leisure Park-River View, Golf Homes, Kingswood, Centurian Park-O2Valley, Terrace Homes, Tropical Garden, Dream Valley-Villa and Enchante.

Amrapali’s various projects have a total of 46, 575 flats, of which some 8,416 units are currently getting registered. At present, NBCC is in the process of constructing 38,159 flats, of which 5,229 units are still unsold. And of the total that NBCC has to deliver, 1,031 units have already been completed. Unused floor area ratio (FAR) of the projects are also set to be put up for sale.

NBCC has so far completed and delivered Eden Park (Noida) and Castle (Greater Noida). The entire Amrapali project is slated for completion and delivery by December 2023. “The construction of all Amrapali projects are in progress and we are working simultaneously at many sites. At this stage, we are planning to sell the unsold flats to infuse funds. The buyers are also urged to pay up their dues on time,” an NBCC official said.

The commercial units of Amrapali, too, are likely to be put up for sale soon and include shops, nursery schools, nursery homes and milk booths, officials said.

NBCC has officially engaged over 15,000 workers and more than 100 engineers from its executing agencies, and 70 of its own engineers are also deployed at the Noida and Greater Noida project sites. The company has also installed 19 anti-pollution guns at different project sites to mitigate dust pollution. The projects are being executed under the supervision of the court receiver.

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Gurugram: NBCC Green View residents protest over ‘unsafe’ buildings – ET RealEstate

GURUGRAM: Residents of NBCC Green View in Sector 37D staged a protest on Tuesday alleging that the developer has compromised with the quality of construction by using substandard materials. They said the society has witnessed plaster falling, ceilings and terraces collapsing and pillars developing large cracks over the last two years.

Scores of residents, including women and children, gathered in front of the society premises on Tuesday with posters and placards and raised slogans against the developer for selling them flats that are “structurally unstable”.

They demanded that the developer, National Buildings Construction Corporation Ltd (NBCC), buy back the flats sold or construct new buildings by demolishing the existing ones.

G Mohanty, president of NBCC Green View RWA, said: “Things are literally falling apart here. We have tried every means to raise the issue with the developer but they are doing nothing about it. We have invested our hard-earned money here but are forced to live in constant fear of our safety.”

Meanwhile, a senior NBCC official said they are aware about residents’ grievances. “We have taken immediate action and hired IIT-Delhi as a consultant to conduct a detailed analysis of the building structure. There are no issues with regard to stability and structure of the building. We are confident that all the problems will be resolved within 3-4 months,” the official said.

The project was launched by the NBCC in 2012 and the possession of unfinished flats was offered in August 2017 after a delay of two years, residents claimed. At present, more than 125 families are living in the society.

“We make our childen wear helmets while stepping out as portions of the buildings can fall at any point,” Yadvendra Yadav, a resident, said.

Deepak Jain, the RWA treasurer, added: “The quality of construction is so poor that the building may collapse at any moment, particularly in the event of an earthquake of even low intensity.”

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NBCC kicks off construction at Amrapali Dream Valley-II – ET RealEstate

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NOIDA: In a major relief to Amrapali buyers, NBCC on Wednesday kicked off construction work at Dream Valley Phase–II, a stalled real estate project where the government-backed construction company has to complete 8,302 flats.

NBCC has awarded the project to Girdhari Lal Constructions and Altis Holding Corporation joint venture. A ‘bhoomi pujan’ was conducted at the project site on Wednesday.

Meanwhile NBCC officials told TOI that at present construction activity is in progress at 18 Amrapali projects in Noida and Greater Noida. The completion dates for a total of 39,017 residential units in these projects range from nine months to 36 months.

“So far, 695 units have already been handed over and around 2,500 more are likely to be given to investors by March 2021. The construction work at 18 projects are in full swing and to maintain the speed of construction, the homebuyers should promptly pay their dues,” NBCC senior executive director RK Aggarwal said.

NBCC has engaged 15,000 workers, over 100 engineers and 70 senior engineers for the completion activity, company sources said. “To help dust mitigation at project sites, we have installed 19 anti-smog guns. The entire construction process is being supervised by court receiver, R Venkatramani,” Aggarwal said.

“In addition to these projects, the tenders for Greater Noida projects — Leisure Valley-Varona Height 1 & 2 comprising 4,964 units — are likely to be awarded soon. Similarly, the tender process for Heart Beat-1 & 2, comprising 1,976 residential units, is in process,” the NBCC official said.

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NBCC auctions office space at Nauroji Nagar at Rs 214 crore – ET RealEstate

State-run NBCC (India) Ltd has sold premium office space in South Delhi to the Pension Fund Regulatory and Development Authority (PFRDA) and the National Internet Exchange of India (NIXI) for Rs 214 crore in an auction.

The space was sold at the World Trade Centre (WTC) that is coming up at South Delhi’s NaurojiNagar as part of the government’s redevelopment plan.

With this, NBCC has sold about 20% of the 675,000 sq ft commercial space worth Rs 2,754 crore.

“Last e-auction was held on October 22 where PFRDA had taken 40,000 sq ft while NIXI purchased 12,000 sq ft,” said an official aware of the matter.

During the lockdown, NBCC sold office space worth Rs 520 crore to two public sector companies.

Both PFRDA and NIXI confirmed the transaction to ET and said that this will be used as headquarters for the authorities.

The integrated business hub at Nauroji Nagar will have independent offices with direct connectivity from airport, railway and metro stations, retail outlets, food court and business centres.

The project was on hold for 18 months. In February this year, the Delhi High Court vacated the stay on construction of a commercial hub.

The WTC with 6 million sq ft of built up area including 12 commercial towers is part of NaurojiNagar redevelopment.

NBCC has already sold nearly 340,000 sq ft office space in two towers for Rs 1,400 crore before the stay.

The government had announced redevelopment of seven housing colonies in Delhi, of which three—Nauroji Nagar , Netaji Nagar and Sarojini Nagar—were assigned to NBCC.

The total cost of the project is pegged at Rs32,000 crore, of which around Rs 12,000 crore will be realised from sale of Nauroji Nagar project and another Rs 20,000 crore from Sarojini Nagar.

In Nauroji Nagar, a commercial hub will be developed in 25 acres.

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