18-month timeline for delivery of flats

  • | Thursday | 22nd February, 2018

This will help us simultaneously complete pending flats in three years," she said.Buyers present at the hearing said they were reassured. "We are relieved the Supreme Court has taken this stance in protecting our rights. Going by the plan of completion as drawn up by us, we will complete and hand over 31,000 flats due from us in next 30 to 36 months," Shiv Priya said. We will also seek permission of the court to allow us to start some towers on which work is yet to start. The firm, she added, would commit to handing over 3,000-4,000 flats in the next nine months and another 5,000 from the ninth to the 18th month.

NOIDA: Troubled real estate developer Amrapali said on Wednesday it had chalked out a plan to deliver 8,000-9,000 overdue flats in the next year and a half, after the Supreme Court , hearing a petition from buyers, decided to supervise construction of all viable projects of the company.Amrapali executive director Shiv Priya said the schedule would be submitted in the SC on Thursday. The firm, she added, would commit to handing over 3,000-4,000 flats in the next nine months and another 5,000 from the ninth to the 18th month."The honourable court has ordered that all dues from buyers will be submitted with the court's registry and that would then be paid to us from the court when we deliver the flats. Going by the plan of completion as drawn up by us, we will complete and hand over 31,000 flats due from us in next 30 to 36 months," Shiv Priya said."We have about 40 towers which are almost finished and we are going to start working on them first. We will also seek permission of the court to allow us to start some towers on which work is yet to start. This will help us simultaneously complete pending flats in three years," she said.Buyers present at the hearing said they were reassured. "We are relieved the Supreme Court has taken this stance in protecting our rights. With the court taking guardianship of our funds and delivery of flats, apprehensions about the builder's commitment is expected to fade," said Abhishek Kumar , president of Noida Extension Flat Owners Welfare Association (Nefowa).Shiv Priya said details of the financial roadmap necessary for completion of the pending flats and funds needed for that, as well as the possibility of getting co-developers on board, will be revealed in the future hearings.

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