Supreme Court Steps Up on Amrapali Projects: Unsold Flats and Buyer No-Shows Under Scrutiny
Supreme Court Steps Up on Amrapali Projects: Unsold Flats and Buyer No-Shows Under Scrutiny The Supreme Court has intensified its efforts to resolve the issues surrounding the unsold flats in the Amrapali projects, urging buyers who haven’t taken possession to do so or risk cancellations. Justices Bela M Trivedi and Satish Chandra Sharma tasked Attorney General R. Venkataramani with providing a comprehensive report on the matter.Greater Noida authorities approved additional construction but emphasized the need for NBCC to meet compliance requirements for various projects. The bench also required quick environmental clearances to facilitate progress. Amid financial constraints, the NBCC stated it needs an extra Rs 500 crore to complete projects.A consortium of banks has already financed significant amounts for the completion, yet unresolved issues linger as thousands of flats remain unclaimed. The court, while closing a number of petitions, reaffirmed its commitment to addressing the financial and regulatory challenges in the stalled projects.
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Source: Devdiscourse
