Figure out way to sell unsold Amrapali flats, SC asks NBCC

The Supreme Court on Wednesday directed the National Buildings Construction Corporation Limited (NBCC) and homebuyers for suggestions to deal with 2,000 unsold flats of Amrapali group in several projects.

A bench of Justice Arun Mishra and Justice Uday Umesh Lalit sought suggestions from the NBCC and homebuyers as to how the unsold flats can be dealt with and asked the public constructor to file a report.

The next date of hearing has been fixed for on October 4.

The court also issued notices to Bhubaneswar and Raipur revenue officials to file response on how much money was deposited by Amrapali for purchase of land.

In a relief to homebuyers, the court issued a notice to banks seeking their suggestions on what can be done to release pending loan amounts to the homebuyers so that they can make the pending payments.

The top court asked the Centre to suggest modalities about the calculation of GST/service tax for the homebuyers.

"Dedicated bank account at UCO Bank shall be opened for homebuyers to deposit pending payments," the court said.

It further said that forensic audit of two properties -- Heartbeat City and O2 Valley - will be initiated.

The homebuyers had told the court that a total of Rs 2,000 crores is required to complete the unfinished projects in Noida and Greater Noida areas.

On August 26, the court had directed its bank account (registry) to release Rs seven crore to the NBCC for construction of the remaining two projects in Noida and Greater Noida.