NOIDA: Troubled real property developer Amrapali stated on Wednesday it had chalked out a plan to ship 8,000-9,000 overdue residences within the next yr and a part, after the Supreme Court, hearing a petition from buyers, decided to oversee development of all viable initiatives of the company.
Amrapali government director Shiv Priya stated the time table would be submitted within the SC on Thursday. The company, she added, would commit to handing over 3,000-4,000 residences within the next 9 months and some other 5,000 from the ninth to the 18th month.
"The honourable court has ordered that all dues from buyers will be submitted with the court's registry and that would then be paid to us from the court when we deliver the flats. Going by the plan of completion as drawn up by us, we will complete and hand over 31,000 flats due from us in next 30 to 36 months," Shiv Priya stated.
"We have about 40 towers which are almost finished and we are going to start working on them first. We will also seek permission of the court to allow us to start some towers on which work is yet to start. This will help us simultaneously complete pending flats in three years," she stated.
Buyers provide on the hearing stated they have been reassured. "We are relieved the Supreme Court has taken this stance in protecting our rights. With the court taking guardianship of our funds and delivery of flats, apprehensions about the builder's commitment is expected to fade," stated Abhishek Kumar, president of Noida Extension Flat Owners Welfare Association (Nefowa).
Shiv Priya stated main points of the financial roadmap vital for final touch of the pending residences and budget wanted for that, in addition to the potential of getting co-developers on board, might be published at some point hearings.
Amrapali government director Shiv Priya stated the time table would be submitted within the SC on Thursday. The company, she added, would commit to handing over 3,000-4,000 residences within the next 9 months and some other 5,000 from the ninth to the 18th month.
"The honourable court has ordered that all dues from buyers will be submitted with the court's registry and that would then be paid to us from the court when we deliver the flats. Going by the plan of completion as drawn up by us, we will complete and hand over 31,000 flats due from us in next 30 to 36 months," Shiv Priya stated.
"We have about 40 towers which are almost finished and we are going to start working on them first. We will also seek permission of the court to allow us to start some towers on which work is yet to start. This will help us simultaneously complete pending flats in three years," she stated.
Buyers provide on the hearing stated they have been reassured. "We are relieved the Supreme Court has taken this stance in protecting our rights. With the court taking guardianship of our funds and delivery of flats, apprehensions about the builder's commitment is expected to fade," stated Abhishek Kumar, president of Noida Extension Flat Owners Welfare Association (Nefowa).
Shiv Priya stated main points of the financial roadmap vital for final touch of the pending residences and budget wanted for that, in addition to the potential of getting co-developers on board, might be published at some point hearings.
18-month timeline for delivery of flats
![18-month timeline for delivery of flats]()
Reviewed by Kailash
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February 22, 2018
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