Around 1,100 homebuyers involved in the Amrapali Group's housing projects are facing a "final" ultimatum from the Supreme Court receiver overseeing the projects. Those who haven't validated their flat allotment documents or taken possession of their units despite examination have been targeted. The National Buildings Construction Corporation (NBCC) is working to complete stalled projects due to the incarceration of Amrapali Group's promoters. Homebuyers must submit supporting documents to receive No Objection Certificates (NOCs) for ownership. Deadlines have been set for document submission and possession, with penalties for non-compliance. Failure to comply may lead to flat allotment cancellations and unsold inventory status.
The Amrapali Group's long-standing housing saga continues as approximately 1,100 homebuyers are now facing a "final" ultimatum. The Supreme Court receiver overseeing Amrapali projects has issued this notice to individuals who have yet to validate the documents upon which their flat allotments were based. Additionally, those who have not taken possession of their units despite having examined the paperwork are also targeted.
The challenges facing the Amrapali Group stem from the incarceration of its promoters. Consequently, the National Buildings Construction Corporation (NBCC), a government-backed construction company, has been entrusted with the task of completing the stalled projects.
This initiative operates under the vigilant supervision of the apex court. To facilitate this, NBCC has provided a list of completed flats to the court receiver. Noteworthy projects with finalized flats include Centurian Park, Dream Valley 1, Leisure Valley, Platinum, Princely Estate, Sapphire 1 and 2, Silicon City 1 and 2, and Zodiac.
Guided by a set of regulations, homebuyers must now visit the office of senior lawyer R Venkataramani, the appointed court receiver. They are required to submit supporting documents demonstrating the absence of outstanding payments. Upon successful compliance, buyers will then be issued No Objection Certificates (NOCs), granting them the right to assume ownership of their respective flats.
However, a considerable number of buyers—828, to be precise—still need to furnish documents relating to their payments. In contrast, 243 buyers have procured NOCs from the court receiver but have yet to formally take possession of their new flats.
For those who are lagging in the submission of documents, a stringent deadline of October 15 has been imposed. Failure to meet this deadline will result in a daily fine of Rs 2,500 for the ensuing 30 days. Similarly, those with NOCs are directed to complete the process of taking possession by September 20. If either of these deadlines is missed, the consequences may involve the cancellation of flat allotments.
Such cancellations, according to the notice dated August 23, would render the units as unsold inventory. This drastic measure is a stern reminder of the urgency of compliance. After the cancellation, no claims pertaining to these units will be considered, and the inventory list will be reported to the Supreme Court.
This episode traces back to July 2019 when the Supreme Court tasked NBCC with the duty of finalizing the incomplete projects belonging to the Amrapali Group. Simultaneously, R Venkataramani was appointed as the court receiver, responsible for facilitating the handover of possession, executing registries, and overseeing various aspects related to these projects.
As the narrative unfolds, the notice serves as a pivotal point that could trigger crucial decisions for these homebuyers. Balancing the complexities of documentation, compliance, and prompt action are now central to realizing their long-awaited aspirations of owning a home. With the clock ticking and fines looming, the future of these Amrapali projects hangs in the balance, awaiting the response of the concerned homebuyers.
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