Amrapali buyers meet over new builder plan
Homebuyers in various projects of Amrapali Group held a meeting to discuss the builder’s decision to hand over the responsibilities of completing the flats to a Greater Noida-based developer, the Galaxy Group. Galaxy has expressed an interest in financing and…

Homebuyers in various projects of Amrapali Group held a meeting to discuss the builder’s decision to hand over the responsibilities of completing the flats to a Greater Noida-based developer, the Galaxy Group.

Galaxy has expressed an interest in financing and executing around 33,000 flats left pending by the Amrapali group. The Supreme Court has directed Galaxy to submit a comprehensive proposal ahead of the next hearing on Feb 21.

“Most buyers were a little relieved with this intervention. But the actual sense of relief will come when work starts on the ground,” said Abhishek Kumar, President of the Noida Extension Flat Owners’ Welfare Association (Nefowa).

He said the builder had submitted a comprehensive plan regarding the completion of the projects to the legal counsel of the homebuyers. It contained a schedule with a tower-wise break-up of the completion plan.

News report said Galaxy had promised to put in Rs 5 billion and 10,000 labourers to start on the projects. The builder plans to recover the revenues with the pending dues of the Amrapali buyers.

(ends)

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