Summary:
The Supreme Court said on Tuesday it will tolerate no delay in handing over possession to homebuyers of Amrapali housing projects and threatened to send officials of Noida and Greater Noida to jail if they fail to abide by this order. The Court in its judgment had cancelled the registration of Amrapali under the Real Estate Regulatory Authority (RERA) Act and ordered public enterprise National Building Construction Corporation (NBCC) to complete the pending projects at eight per cent commission. Meanwhile, the NBCC produced before the Court a demand for Rs 7.59 crore, the cost it incurred for completing work on two Amrapali projects. As all Amrapali properties came to vest in him, Venkatramani requested the SC to frame guidelines on implementation of the SC order. The Court had directed all parties who were beneficiaries of the homebuyers' money to return the money within a month..