Business Nation

Noida Amrapali buyers: When will you get your flat back?

New Delhi: Supreme Court on Thursday gave Amrapali flat buyers time till October to pay the dues of the flat or their booking will be cancelled. The top court warned the buyers that around 2,000-2,500 flats wil be ready shortly and that those homebuyers with remaing dues should be paid by October 15. The homebuyers who want to get possession of their flats in Noida and Greater Noida’s Amrapali Group projects were told to clear their dues as per the payment plan.

Several homebuyers who had bought these apartments many years ago, but they have not been paying deposits for completion of the projects. Issuing an ultimatum the SC said if buyers do not pay by the stipulated time, then an order will be issued to cancel their flat booking.

These projects were taken over by the National Buildings Construction Corporation Ltd (NBCC), the government construction firm, after the Amrapali Group failed to deliver the flats despite taking huge sums from homebuyers.

The NBCC told the apex court that if Rs 200 crore was provided then around 2000 2500 flats could be ready for handover to buyers by December 2021. The Consortium of Banks have claimed that they will arrange for the funds soon. The paperwork has been been completed and the funding should be ready by Navratris.