SC directs NBCC to complete home projects in Noida, Greater Noida

The Supreme Court on Monday directed National Buildings Construction Corporation (NBCC) Ltd. to commence and complete the work of eight projects involving 11, 258 home units in Noida and Greater Noida, and start handing over possession to the buyers.

The apex court bench headed by Justice Arun Mishra, and comprising Justice Uday Lalit, asked NBCC (India) Ltd to complete the unfinished projects in Noida and Greater Noida - Zodiac, Sapphire 1 and 2, Silicon City 1 and 2, Princely Estate, Centurion Park Low Rise and the O2 Valley.

The Supreme Court directed the receiver, in the case appointed by it, to sell 85 cars of Amrapali immediately to raise as much as funds it can for the completion of the unfinished projects, in Noida and Greater Noida area.

Lawyer M L Lahoti argued for many homebuyers, whereas, Geeta Luthra appeared for Amrapali during the hearing in the Amrapali real estate case today before the apex court.

The court also stated that the Surekha family, which took interest in purchasing certain projects of Amrapali, may face serious consequences for their default in depositing Rs 167 crores, as per the Court's earlier order. It also warned the Surekhas that three members of their family may be put in jail if they fail to comply with the Court's order.

On October 14, the Supreme Court had directed Bhubaneshwar and Raipur authorities to deposit an amount of Rs 34.50 crores and Rs 20 crores respectively in its registry in the case pertaining to the unfinished housing projects of embattled real estate Amrapali group in Noida and Greater Noida. This was the amount Amarapali had given to these authorities for obtaining leases in the cities.

The next date of hearing is December 13.