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SC Allows Auction of Amrapali Project’s Unclaimed Flats

<span style="font-weight: 400;">The Supreme Court has allowed the plea of the court-appointed receiver to treat the 9,600 flats in various Amrapali housing projects whose home buyers have not come forward to claim their flats, as unsold inventory. The next step would be the cancellation of their all

BY Realty Plus
Published - Aug 17, 2021 3:49 AM

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The Supreme Court has allowed the plea of the court-appointed receiver to treat the 9,600 flats in various Amrapali housing projects whose home buyers have not come forward to claim their flats, as unsold inventory. The next step would be the cancellation of their allotment and auctioning them to raise money for construction of the remaining unfinished projects. The top court was informed that the court-appointed receiver, and the NBCC have made several joint efforts to reach out to all home buyers, to whom units are said to have been sold in various housing projects. It has emerged that about 9,583 home buyers have neither registered so far in the customer data maintained by the office of the receiver, nor have made any payments, subsequent to the judgment of the court in July 2019". The bench added that a final notice should be given to these home buyers and if they don't come forward to claim these flats within 15 days, then the receiver can proceed to cancel the allotment. According to the court-appointed forensic audit report, these flats could be benami or bogus bookings. The court-appointed receiver is managing the affairs of Amrapali group and exploring all options to raise the funds to complete the unfinished construction of housing project. Also, 6,210 home buyers, though registered in the customer data, are not making any payment. Necessary direction is solicited from the court in order that the allotments to such defaulting home buyers shall be treated as cancelled, after giving one final opportunity for expressing their interest in the allotment and making due payment.The receiver further added that substantial amount could be raised by selling those unclaimed flats and it would be helpful in raising funds for the construction of unfinished projects.

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