Noida, Feb 21 (IANS) Government-owned construction major NBCC has received approval from the Greater Noida Authority to undertake the development of five Amrapali housing projects worth Rs 10,000 crore. The approval was confirmed via a stock exchange filing, stating that the projects are valued at approximately Rs 10,000 crore.
The five projects include Centurian Park, GH-05, Sector Tech Zone-IV, Golf Homes, GH-02, Sector-4, Leisure Park, GH-01, Tech Zone-IV, Leisure Valley, GH-02, Tech Zone-IV, and Dream Valley, GH-09, Tech Zone-IV, all located in Greater Noida.
Amrapali, which went bankrupt and abandoned the projects, had left thousands of homebuyers in a difficult situation. The Supreme Court had assigned NBCC as the project management consultant (PMC) in 2019 to complete the 25 stalled Amrapali projects, which consist of approximately 38,500 flats.
This move is a significant development for the real estate sector and provides hope for homebuyers who have been eagerly awaiting the completion of their properties. The approval from the Greater Noida Authority indicates progress and a step towards resolving the long-standing issues surrounding the Amrapali housing projects.
The government-owned construction major NBCC has a crucial role to play in reviving these projects and providing relief to the affected homebuyers. The development of the unused and purchasable FAR in these projects is expected to bring about a positive transformation in the real estate landscape of Greater Noida.
The completion of these projects will not only fulfill the aspirations of the homebuyers but also contribute to the overall growth and development of the real estate market in the region. This approval marks a significant milestone in the journey towards the revival of the Amrapali housing projects and reaffirms the commitment of NBCC to deliver on its mandate.
Overall, the approval from the Greater Noida Authority is a positive step towards resolving the long-standing issues related to the Amrapali housing projects and signals a new era of hope and progress for the real estate sector in Greater Noida.
