Amrapali buyers meet over new builder plan

NOIDA: Homebuyers in various projects of Amrapali Group held a meeting on Sunday over the builder's decision to hand over the responsibilities of completing the flats to a Greater Noida-based developer.
The Galaxy Group had on January 31 expressed an interest in financing and executing around 33,000 flats left pending by the Amrapali group. The Supreme Court, which is currently hearing a case relating to the pending flats, has directed Galaxy to submit a comprehensive proposal ahead of the next hearing on February 21.

The decision on whether Galaxy would be allowed to complete the pending projects rests with the apex court. "Most buyers were a little relieved with this intervention. But the actual sense of relief will come when work starts on the ground," said Abhishek Kumar, the president of the Noida Extension Flat Owners' Welfare Association (Nefowa).

Kumar said the builder had submitted a comprehensive plan regarding the completion of the projects to the legal counsel of the homebuyers.

"The builder has handed over a schedule with a tower-wise break-up of the completion plan. We held a meeting today with all Amrapali buyers to assess their proposal and give our suggestion to the counsel representing us. We have drawn up our observation and will send it to the counsel," Kumar said.

Sources said Galaxy had promised to put in Rs 500 crore and 10,000 labourers to start on the projects. The builder plans to recover the revenues with the pending dues of the Amrapali buyers.