NBCC assures monitoring after Amrapali residents raised safety concerns – ET RealEstate

NEW DELHI: State-run NBCC (India) has assured the homebuyers of Amrapali of proper monitoring of ongoing construction work after residents complained of safety issues.

NBCC had started construction of over 16,000 flats of Amrapali in the last week of August while 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.

Residents of Sapphire I, where over 90% of the flats are occupied, met the NBCC CMD on Thursday to complain about the safety issues while executing the work.

“We are not bothered about the how building will look but concerned about the safety issue. Primary concern is fire safety measure and seepage, which is making the structure weak,” said Preeti Kaushal, treasurer of the society.

Residents highlighted the poor workmanship of the contractor, lack of proper monitoring, safety and ecurity norms followed by NBCC contractor. The residents also highlighted need for an urgent rectification work in basements and shafts.

“Residents have requested for additional monitoring and we will post two more senior staff for the monitoring of ongoing construction work. The residents were assured that NBCC is following all due process,” said P K Gupta, CMD of NBCC.

In terms of monitoring residents requested that ED should monitor this project on monthly basis and should undertake surprise inspection of the site.

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.



Source link

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

File photo

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.

“Over 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.

“All 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.

“In 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.



Source link

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.



Source link

Ask NBCC to start work on Wish Town project: Buyers to SC – ET RealEstate

NOIDA: A group of Wish Town buyers urged the Supreme Court on Wednesday to direct the National Company Law Appellate Tribunal (NCLAT) to persuade state-run NBCC to immediately start construction in the Wish Town project and complete around 20,000 pending flats at the earliest.

The court has issued notices to the NBCC and other stakeholders in the project, seeking their responses.

The next date of hearing is on August 6.

According to buyers, there is a complete standstill at the project site. “Buyers are completely frustrated with the non-action by NBCC. Even after the conditional nod by NCLAT, the state-run construction company is yet to start work. Now that the Supreme Court will start hearing the case again, it could take a long time for a decision to arrive. So, we are simply losing time,” said Jaishree Swaminathan, a Wish Town buyer.

After prolonged insolvency proceedings of Wish Town, the NCLT had given the construction rights for the pending flats to the NBCC, but the company moved the NCLAT, the appellate body, against the NCLT, claiming their resolution agreement was dishonoured with the addition of extra financial liabilities.

The project has been under the supervision of an interim monitoring committee since April 23.



Source link