NBCC starts construction of 16,000 Amrapali flats

NOIDA: State-run NBCC on Monday started simultaneous construction at multiple stalled Amrapali projects, which, officials said, would facilitate the completion of some 16,000 flats at the earliest. The completion deadline offered by NBCC for the total 44,000 pending flats is 2023.
The projects where construction began after bhumi poojan include Smart City Golf Homes, Kingswood, Leisure Park (phases 1 & 2 and River View), Centurion Park – Terrace Homes and Tropical Garden and Leisure Valley.
“Currently, we have deployed 6,000 construction workers for the completion of these projects. Later we may press into service 6,000 more workers to facilitate speedy completion. We will complete all pending work between nine and 36 months,” PK Gupta, CMD of NBCC, said.
NBCC had earlier said it would try to hand over at least 150-200 flats every month from August, instead of waiting for entire towers to get completed, and asked Amrapali buyers to start paying up their dues in instalments from this month, following a directive to the investors from the Supreme Court.
Apart from the projects where construction began, the company said work would soon start in Dream Valley Enchante in Greater Noida.
“Construction work of over 11,000 flats at Silicon I & II, Silicon Crystal Homes, Sapphire I & II, Princely, Platinum, and Titanium & Zodiac in Noida, and Centurion Park lowrise and O2 Valley, Leisure Valley Villa and Dream Valley Villas, involving some 2,600 units, in Greater Noida are in progress,” said another NBCC official.
“We have already started handing over flats to homebuyers in these projects and likely to hand over around 150 flats by this month-end,” he added.
“The completion of all the projects entirely depends upon timely deposit of homebuyers and arrangement of funds from other sources. The court receiver has asked buyers to pay up at the earliest to facilitate completion,” Gupta said.
Broadly, the company has split the pending projects into three groups. The first group includes Zodiac, Sapphire-I, Sapphire-II, Silicon-I, Princely Estate, Platinum & Titanium, and Leisure Vall-ey Villas. The delivery deadlines of these seven projects are between January 2021 and June 2021.
The second group of projects — Dream Valley Villas, Silicon – II, Centurion Park –Lowrise and Centurion Park–O2 Valley — have a delivery timeline between February 2022 and July 2023. In the third group, NBCC will deliver the remaining projects, the delivery timeline being from February 2022 to July 2023.
NBCC has a budget outlay of Rs 8,500 crore for completion of the Amrapali projects and its receivables from buyers is Rs 3,200 crore.