Earlier this week, 51 buyers of Amrapali Dream Valley Enchante in Greater Noida West received the keys to their long-awaited apartments, marking a significant milestone after years of delays. The NBCC began the handover process four years after taking charge of the stalled project. While some buyers celebrated their new homes, others are still awaiting possession. The Supreme Court's earlier intervention, holding Amrapali accountable for fund misappropriation, has paved the way for the ongoing completion of this project.
After a lengthy wait of several years, including a decade for some, 51 buyers of Amrapali Dream Valley Enchante in Greater Noida West received the keys to their apartments earlier this week. The National Buildings Construction Corporation (NBCC) initiated the handover process, four years after being entrusted with completing the stalled project. The remaining 800 homebuyers from this Amrapali development are expected to receive possession of their flats shortly.
The Amrapali Dream Valley project was launched in 2010 and intended to be developed in three phases. Construction on the third phase, Dream Valley Enchante, commenced in 2014, with an initial promise of flat handovers within 36 months. However, progress was halted due to bankruptcy after only excavation work was completed.
In 2019, the Supreme Court appointed NBCC as the project management consultant to oversee the completion of cash-strapped Amrapali projects. This included finishing the construction of 38,159 remaining units and the associated common facilities. In 2020, NBCC awarded the construction tender for Dream Valley Enchante to a private firm, which was subsequently blacklisted in 2022 for delays and non-performance. Another firm, Gautam Builders, was then engaged to continue the work.Out of five towers in the society, two-H5 and H6-are now complete, while the remaining three are nearing final completion. All units are 2BHK flats.
NBCC is currently managing 14 unfinished Amrapali projects in Noida, which include several high-profile developments. In its 2019 ruling, the Supreme Court held the Amrapali Group and its directors accountable for misusing homebuyers' funds for personal gain, subsequently revoking its licence under the RERA Act.
In conclusion, the handover of keys to the first batch of homebuyers represents a long-awaited victory amid a tumultuous journey. The support and perseverance shown by the buyers highlight the emotional toll of their struggle. As the remaining units are completed, there is hope that the NBCC's involvement will restore faith in the Amrapali brand and provide a reliable housing solution for all awaiting residents.
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