Amrapali Housing projects: Homebuyers who have bought their dream homes in Amrapali Group’s housing projects in Noida – Greater Noida in Delhi NCR have been waiting for more than a decade to get possession of the house. But the long wait of Amrapali homebuyers is going to end soon. By March 2025, the construction work of all the stuck housing projects of Amrapali Group will be completed.
NBCC is completing the stuck housing projects
Public sector construction company NBCC is completing the stuck housing projects of Amrapali Group after the order of the Supreme Court. NBCC has completed the construction of about 13,500 flats in the stuck housing projects of Amrapali Group in Noida and Greater Noida. And the housing units of such projects of the group whose construction work is yet to be completed will also be ready by March 2025. The construction work of the remaining 25,000 flats will be completed by March 2025.
NBCC has so far completed the construction of about 13,500 flats, out of which 5,100 housing units have been handed over to homebuyers. NBCC has devoted all its resources to complete these housing projects. So that the dream of homebuyers of Amrapali’s housing projects can be fulfilled.
A total of 46,575 flats were to be built in 25 housing projects of Amrapali. Of these, homebuyers had already got possession of the houses on 8,416 housing units before the Supreme Court’s decision in July 2019. NBCC has completed work worth about Rs 5,512.10 crore by September 2023 and has received Rs 5,229.60 crore from homebuyers till October 23 this year.
SBICAP Ventures Limited has provided funds of Rs 650 crore to complete six housing projects. Apart from this, a consortium of seven banks – Bank of Baroda (lead bank), Indian Bank, State Bank of India, Punjab National Bank, UCO Bank, Bank of India and Punjab and Sindh Bank has also sanctioned Rs 1,500 crore.