NBCC (India) asked to commence work on eight Amrapali Group projects
The cost of the current package is about Rs 570 crore
The Supreme Court-appointed receiver has asked NBCC (India) to commence work on eight more stuck projects of the Amrapali Group. This move will offer relief to more than 9,300 homebuyers in Noida and Greater Noida.
The Supreme Court had in 2018 had asked the NBCC (India) to complete 16 projects of the Amrapali Group. It has completed work on two of those, which will be handed over soon to the court receiver. The receiver has given a list of eight projects having 9,306 flats.
The cost of the current package, including towards project management consultancy and GST, is about Rs 570 crore. The projects are Zodiac, Sapphire One and Two, Silicon City Phase One and Two, Centurian Park, Centurian Park Valley and Princely Estate.
The projects that the Supreme Court asked NBCC (India) to take over at Noida and Greater Noida are expected to cost Rs 8,361 crore to complete. The first two projects that NBCC (India) has taken over, Eden Park and Castle, will soon be ready for handing over to the receiver.