NBCC To Float Tenders For Construction Of Stalled Amrapali Housing Projects

The apex court allowed NBCC to float tenders for selecting builders to complete the stalled projects of Amrapali Group.

0
19

NBCC To Float Tenders For Construction Of Stalled Amrapali Housing Projects

NBCC will float tenders in the next 15 days to appoint contractors for construction of stalled Amrapali housing projects of debt-ridden realty firm Amrapali, the state-owned company’s CMD said.

On September 12, the Supreme Court had appointed NBCC to develop stalled projects of the Amrapali Group following the company’s proposal that it could complete 15 stalled projects, comprising 46,575 flats, within 36 months at a construction cost of Rs 85 billion.

The apex court allowed NBCC to float tenders for selecting builders to complete the stalled projects of Amrapali Group.

The company would also prepare a detailed project report for all the stalled projects within the next two months as directed by the Supreme Court, he added.

On arrangement of funds, he said the company would go by the apex court’s directions and also denied any talks with Piramal group to raise funds.

The company expects construction work to start from December for the first set of projects comprising over 11,000 apartments.

If this happens, this would give a huge relief to a large number of home buyers with stuck investments.

Asked about the seven redevelopment projects in South Delhi that are on hold because of the uproar over falling of trees, he said the company would abide by court’s directions and follow all the government regulations.

On Wednesday, the Delhi High Court appeared inclined to permit redevelopment of six south Delhi colonies, including Sarojini Nagar and Nauroji Nagar, if the project gets all the requisite approvals as per law.

The court reserved its order after hearing arguments on behalf of all stakeholders, including the environment ministry, residents of the area and NBCC, regarding the redevelopment of six colonies of Sarojini Nagar, Netaji Nagar, Thyagaraja Nagar, Kasturba Nagar, Mohammadpur and Srinivaspuri.

Source Link- https://www.business-standard.com/

LEAVE A REPLY

Please enter your comment!
Please enter your name here