Amrapali Homebuyers Receive Last Call to Verify Papers and Secure Flats

    Date:

    Share post:

    Around 1,100 homebuyers involved in Amrapali projects have been issued a “final” notice by the Supreme Court receiver. These buyers are required to validate the documents based on which they were allocated flats. Additionally, this notice also applies to those who have yet to take possession of their units, despite having examined the relevant papers.

    Since the Amrapali Group’s promoters were incarcerated, the National Buildings Construction Corporation (NBCC), a government-supported construction firm, has been taking charge of completing their stagnant projects under the close monitoring of the apex court. The company has already provided a comprehensive list of the completed flats to the court receiver.

    The completed flats are situated in various projects, including Centurian Park, Dream Valley 1, Leisure Valley, Platinum, Princely Estate, Sapphire 1 and 2, Silicon City 1 and 2, and Zodiac.

    Following the guidelines, buyers are now required to visit the office of senior lawyer R Venkataramani, the court receiver. They must present documentation confirming the absence of outstanding dues. Once this step is accomplished, they will receive No Objection Certificates (NOCs) enabling them to take possession of their respective flats. Nevertheless, there are 828 buyers who are yet to furnish documents pertaining to their payments. Furthermore, 243 buyers have obtained NOCs from the court receiver, but have not yet taken possession of their new flats.

    Buyers who have not yet submitted their documents are obligated to do so by October 5th. On the other hand, those with NOCs have been instructed to assume ownership of their flats by September 20th. A daily fine of Rs 2,500 will be imposed for the subsequent 30 days if buyers fail to either submit the required documents or take possession of their flats. Beyond the 30-day limit, the allotments could potentially be revoked.

    The notice, dated August 23rd, clarified that any cancelled units would be categorized as unsold inventory. Consequently, no claims will be entertained for such units, and the list will be presented to the Supreme Court.

    Kumar Mihir, representing the buyers in court, emphasized the significance of completing the process. He pointed out that NBCC is ready to redirect its workforce to other projects, but delays caused by hesitant homebuyers are hindering this transition. Mihir urged those who have been awaiting their homes for an extended period to step forward and finalize the necessary procedures.

    In July 2019, the Supreme Court had entrusted NBCC with the task of finalizing Amrapali’s unfinished projects. Additionally, Venkataramani was appointed as the court receiver to oversee possession handovers, registry executions, and other project-related responsibilities.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Adani Realty’s Acquisition: Potential Impact on Mumbai’s Luxury Real Estate Market

    Adani Realty has secured a prime plot of land in Mumbai, beating out competitors like L&T Realty. The...

    Bengaluru Property Tax to Surge, Double Taxation for Rentals

    Bengaluru residents are bracing for a significant hike in property tax, as the local municipal corporation, Bruhat Bengaluru...

    Developers Bought 415 Acres in Delhi-NCR for Rs 9,120 Crore in 2023: Report

    Last year, real estate developers snapped up 415 acres of land in Delhi-NCR for approximately Rs 9,120 crore...

    Ashiana Vatsalya: Chennai to get premium residences for senior citizens

    Ashiana, a leading real estate developer, announces the launch of Ashiana Vatsalya, an exclusive premium residential project for...