In good news for Amrapali Group’s troubled home buyers, the Supreme Court on Friday told that 11,858 flats will be delivered in 2 to 3 months, of which 5,428 flats will be handed over in October.
A bench of Chief Justice UU Lalit and Justice Bela M Trivedi was informed by senior advocate R Venkataramani, receiver of the court that in the upcoming festive season 5,428 flats completed by NBCC next month will be given to home buyers with electricity and water connections. ,
“We are facing some issues in providing electricity and water connections to another 6,430 completed flats and once the connections are provided and they receive the completion certificate, these units will be given to home buyers in the next two to three months. will be handed over”, he said. Told.
The bench told R Venkataramani that it is a significant development that out of over 38,000 flats to be built, over 11,000 units are being handed over to flat buyers and asked them to ensure that the flats are received only after handed over to home buyers. of full payment.
The senior advocate assured the bench that all these completed flats would be handed over only after the full payment is received from the home buyers.
Giving further details of the fund, he said that the forensic auditors have given a figure of Rs 3870.38 crore as the amount to be recovered from home buyers, but after cross-checking, they have found that the amount receivable is Rs 3,014 crore.
R Venkataramani said that out of Rs 3,014 crore, he has so far received Rs 1,275 crore from 22,701 home buyers and the remaining amount is to be received from 7939 home buyers who have been issued show cause notices in this regard and will. Payment can be received by October 2024 as per the plan.
He informed that when the forensic audit was done the construction cost of over 45,000 flats was more than Rs 8,000 crore with 12 per cent Goods and Services Tax (GST), but now the GST has been increased to 18 per cent and the total construction balance The cost for the flats comes to Rs 9296.81 crore.
Advocate ML Lahoti, appearing for the home buyers, told the bench that there are 1970 defaulters who have not cleared their dues despite notices and their flats need to be sold through auction.
He said that money can be generated by selling 5229 unsold flats and 1164 benami flats whose owners have not been found at their address nor have they approached the court receiver or have registered themselves in the portal for home buyers. Is.
Chief Justice UU Lalit said he had limited time and would like to tackle three to four major issues of Amrapali, which would speed up the entire construction process and ensure completion of stalled projects.
“I have some limitations, which you all understand. I can ask any of my brother and sister’s judge to take up the matter but the problem is that the issues related to Amrapali are such that it is very difficult for them to understand the whole matter. Things will be difficult”, Chief Justice UU Lalit said.
He said that he may spend three to four sessions to decide on these important issues and the bench will sit in the second half on October 11, 12 and 13 to take up these issues.
ML Lahoti and R Venkataramani concurred with the suggestions and said that floor area ratio, dues from home buyers, recovery from former directors of Amrapali and private firms are some of the major issues which can be taken up for hearing.
The bench also extended the relief granted to former Amrapali Group CMD Anil Sharma after he was told that he was to undergo surgery in October.
Additional Solicitor General Aishwarya Bhati, appearing for the Centre, said she was not opposing Sharma’s bail application on medical grounds.
The bench also extended the relief of former Amrapali director Shiv Priya till October 11 and allowed Delhi Police to file the affidavit.
Shiv Priya is out on bail for the treatment of his daughter who complains of liver problem.
On July 18, the court clarified that its priority is that the distressed homebuyers of Amrapali group companies get their homes and then finally it will consider the claims of the real estate group moneylenders who gave financial assistance before 2019 Is.
On July 12, the apex court had stayed the proposed policy decision of the court-appointed receiver to collect an additional Rs 200 per sq ft of its units from Amrapali home buyers to meet the shortfall of funds as it noted Tha flat buyers objected to the plan
NBCC, which is constructing the stalled projects of Amrapali Group, had earlier told the court that currently 10 projects in Noida and 12 in Greater Council are under execution, with a sanctioned project cost of Rs 8,025.78 crore for 45,957 units are included.
The court, in its July 23, 2019, judgment, had cracked the whip on builders guilty of breach of trust by home buyers and ordered the cancellation of the registration of Amrapali Group under the real estate law RERA and made it the NCR. out of major properties. Termination of land leases.
The top court, which is trying to bring in funds for stalled projects, had appointed a court receiver as the custodian of the properties of the Amrapali group.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)