Amrapali Group Case: Major Relief For Home Buyers, Supreme Court Directs NBCC to Complete Unfinished Housing Projects in Noida And Greater Noida
In a major relief to over 42,000 hassled home buyers, the Supreme Court on Tuesday directed the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of Amrapali Group in Noida and Greater Noia.
New Delhi, July 23: In a major relief to over 42,000 hassled home buyers, the Supreme Court on Tuesday directed the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of Amrapali Group in Noida and Greater Noia and handover these to owners.
A bench, headed by Justice Arun Mishra, ordered the cancellation of registration of all Amrapali group of companies and directed the Enforcement Directorate (ED) to conduct a detailed investigation against the company for diverting home buyers' money. Amrapali Group Committed First Degree Crime by Cheating Home Buyers: SC.
Earlier, Noida and Greater Noida authorities had said they don't have the resources and expertise to construct the stalled projects of Amrapali Group. Both the authorities had favoured handing over the properties to a reputed builder under the supervision of a high powered committee.
The top court on May 8 said that it may give ownership rights of all the 15 prime residential properties of Amrapali to Noida and Greater Noida Authorities as it has failed to fulfil its obligations towards 42,000 home buyers.
The bench had then reserved its verdict on the question as to who will take over the management control and which builder or developer should finish the stalled projects of Amrapali.
(The above story first appeared on LatestLY on Jul 23, 2019 11:15 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).