NBCC gets nod to build 5 stuck Amrapali home projects in Greater Noida
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Government-owned construction major NBCC said on Wednesday thaqt it has got the approval of the Greater Noida Authority to develop five Amrapali housing projects worth Rs 10,000 crore.
"NBCC (India) Limited has obtained in-principle approval from the Greater Noida Authority for the development of unused and purchasable FAR in furtherance of the existing projects of Amrapali valuing Rs 10,000 crore (approx)," the company said in a stock exchange filing.
The five projects are -- Centurian Park, GH-05, Sector Tech Zone-IV, Greater Noida; Golf Homes, GH-02, Sector-4, Greater Noida; Leisure Park, GH-01, Tech Zone-IV, Greater Noida; Leisure Valley, GH-02, Tech Zone-IV, Greater Noida; and Dream Valley, GH-09, Tech Zone-IV, Greater Noida.
Amrapali had declared bankruptcy and deserted the projects, leaving thousands of homebuyers, who had invested their life-savings with the company, in the lurch.
The NBCC was assigned as the project management consultant (PMC) after a Supreme Court judgment in 2019 to finish the 25 stalled Amrapali projects, which include around 38,500 flats.
