NBCC Puts 5,000 Pending Amrapali Flats for Sale

State-run construction company NBCC has put up for sale over 5,000 unsold flats at various Amrapali projects in Noida and Greater Noida to help generate revenue for completing the different pending projects of the real estate group in the twin cities.

BY Realty Plus
Published - Monday, 18 Jan, 2021

NBCC Puts 5,000 Pending Amrapali Flats for Sale

State-run construction company NBCC has put up for sale over 5,000 unsold flats at various Amrapali projects in Noida and Greater Noida to help generate revenue for completing the different pending projects of the real estate group in the twin cities. The sale of 5,229 unsold flats will be conducted by Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), a company floated by NBCC to complete the pending Amrapali projects, under the supervision of the Supreme Court-appointed court receiver. In Noida, the flats put up for sale are from Sapphire I, Sapphire II, Silicon City 1, Silicon City 2, Princely Estate, Crystal Homes (Sector 76), Heart Beat City 1 & 2, Platinum and Titanium, and Zodiac. In Greater Noida, the units put up for sale are from Castle, Leisure Valley Villas, Leisure Valley-Adarsh Awaj Yojna, Leisure Valley-Verona, Leisure Park phases 1&2, Leisure Park-River View, Golf Homes, Kingswood, Centurian Park-O2Valley, Terrace Homes, Tropical Garden, Dream Valley-Villa and Enchante. Amrapali’s various projects have a total of 46, 575 flats, of which some 8,416 units are currently getting registered. At present, NBCC is in the process of constructing 38,159 flats, of which 5,229 units are still unsold. And of the total that NBCC has to deliver, 1,031 units have already been completed. Unused floor area ratio (FAR) of the projects are also set to be put up for sale. NBCC has so far completed and delivered Eden Park (Noida) and Castle (Greater Noida). The entire Amrapali project is slated for completion and delivery by December 2023. The construction of all Amrapali projects are in progress simultaneously at many sites. NBCC is planning to sell the unsold flats to infuse funds. The buyers are also urged to pay up their dues on time. The commercial units of Amrapali, too, are likely to be put up for sale soon and include shops, nursery schools, nursery homes and milk booths.