Over 11K flats to be handed over to Amrapali home buyers in 2-3 months, SC told

The Supreme Court was informed on Friday over 11,000 flats will be delivered in 2 to 3 months to Amrapali home buyers', out of which 5,428 flats will be handed over in October.

The court receiver, senior advocate R Venkataramani submitted that 5428 flats, which have been completed by NBCC, will be handed over to home buyers, along with water and electricity connections, next month in the festive season.

The bench of Chief Justice U.U. Lalit and Justice Bela M. Trivedi said that giving possession of over 11,000 flats out of 38,000 flats is an important development.

The court receiver also said that for 6430 complete flats, there are few issues with electricity and water connections, and after these are sorted out, the flats can be handed over to home buyers within two to three months.

The bench emphasised that flats should be handed over to the home buyers only after full payment is received. Counsel, representing the homebuyers, submitted that there are 1,970 defaulters, who have not cleared their dues despite notices, and their flats should be auctioned. He added that funds could be generated after selling 5,229 unsold flats and 1,164 benami flats.

The Chief Justice said he has limited time and would like to deal with three to four major issues of Amrapali, to ensure the completion of unfinished projects.

Venkataramani submitted that Rs 3,870.38 crore figure has been given by forensic auditors, the amount to be realised from the home buyers, but it has been found that amount receivable is Rs 3,014 crore and out of this Rs 1,275 crore received from 22,701 home buyers. The top court has scheduled the hearing on the matter in October.

Meanwhile, the top court also extended the bail of Amrapali Group's ex-CMD Anil Sharma on medical grounds. Sharma's counsel informed the bench that surgery needs to be conducted on his client in October. Additional Solicitor General Aishwarya Bhati, appearing for the Centre, did not oppose Sharma's application for bail.

The apex court also extended the relief granted to Shiv Priya, former Amrapali director, till October 11. Priya has been out on bail for treatment of his daughter.

On July 18, the top court clarified that its priority is that hassled home buyers of Amrapali Group of companies get their homes and thereafter at the end it will consider the claims of money lenders of the real estate group, who have given financial assistance before 2019.

On July 12, the top court had put on hold for the time being a proposed policy decision of the court-appointed receiver to collect from Amrapali home buyers additional Rs 200 per square feet of their units to meet the fund crunch as it took note of objections raised by flat buyers to the plan.

The NBCC, which is constructing the stalled projects of Amrapali Group had earlier told the top court that at present, 10 projects in Noida and 12 in Greater counsels are under execution involving 45,957 units with a sanctioned project cost of Rs 8,025.78 crore.

The apex court in its July 23, 2019, verdict had cracked the whip on errant builders for breaching the trust reposed by home buyers and ordered the cancellation of the registration of Amrapali Group under real estate law RERA and ousted it from prime properties in the NCR by nixing land leases.

The top court, which is trying to bring in funds for the stalled projects, had appointed a court receiver as custodian of the properties of Amrapali Group.