Big Relief For Amrapali Group Homebuyers: There is finally a relief news for thousands of buyers who have been regretting booking homes in Amrapali Group’s projects. State-owned NBCC Limited, which is trying to complete the unfinished projects of Amrapali Group, has told that some banks have shown interest in providing funds for this work.
According to NBCC, SBICAP Ventures Ltd has agreed to provide funds for completion of 6 stalled projects of Amrapali Group in Noida and Greater Noida. For this, a Memorandum of Understanding (MoU) has also been signed between the Supreme Court-appointed receiver and SBICAP Ventures. With this MoU, the way has been cleared to complete the construction of flats of 6,947 buyers.
650 crores will be available for these unfinished projects of Amrapali Group
The 6 unfinished projects of Amrapali Group for which Rs 650 crore will be provided by SBICap Ventures are: Silicon City-1, Silicon City-2, Crystal Homes, Centurion Park-Low Rise, O2 Valley and Tropical Garden. Not only this, after coming to the fore of SBICap Ventures, now some more reputed banks are also showing interest in giving funds to complete the unfinished projects of the group. According to NBCC, this initiative is expected to benefit more than 42 thousand customers who have been disappointed after buying homes in Amrapali Group’s projects.
According to NBCC, the Supreme Court-appointed monitoring committee had held a meeting with private and public sector banks to raise funds to complete the unfinished projects of Amrapali Group. The Executive Director of NBCC also attended the meeting. During this meeting, many banks have shown interest in funding unfinished projects. This information has been given in a statement issued by NBCC on Tuesday.
The way of solution is open by the order of the Supreme Court
NBCC’s statement also said that the entire credit for these steps being taken to help the distressed buyers goes to the Hon’ble Supreme Court, the committee members appointed by him and the team of NBCC, who together work to help thousands of homebuyers. Taking responsibility for alleviating the pain. In July 2019, the Supreme Court had entrusted the responsibility of completing several unfinished real estate projects in Noida and Greater Noida of Uttar Pradesh to NBCC. The Supreme Court in its judgment dated 23 July 2019 had also ordered cancellation of the registration of Amrapali Group under RERA. All the unfinished projects of this group are currently under the supervision of the receiver appointed by the Supreme Court.