Can’t handle Amrapali projects: Authorities

Created on 11.05.2019 20:11:51
Can’t handle Amrapali projects: Authorities

Two days after the Supreme Court said it would throw Amrapali out of its housing projects and hand them over to Noida and Greater Noida authorities, the authorities said on Friday they couldn’t take up the work as they didn’t have expertise in constructing buildings.

“We are not technically competent and we do not have expertise to do the task. Let there be some reputed developer to complete the project and a monitoring committee should be appointed by the court to keep a watch over it,” Noida authority said. Greater Noida authority took the same stand.

After Noida and Greater Noida authorities said they won't be able to complete Amrapali projects, the Supreme Court said it would pass orders on handing over the projects to other companies and would consider the option of government-owned NBCC, Hudco or reputed private companies like Larsen & Toubro.

“So you are afraid of what you will do with the property,” the bench of Justices Arun Mishra and U U Lalit said.

The court has said Amrapali group would have no stake in its housing projects and made it clear that homebuyers and not banks would have first right on the proceeds of the auction of the group’s properties. This means the money raised would be used for the construction of projects.

The court directed the authorities to issue occupation certificates in those projects in which people had taken possession of flats to enable them to live there. At the outset of proceedings, advocate M L Lahoty, appearing for the homebuyers, urged the court to appoint a monitoring committee to supervise the construction of housing projects.

NBCC had earlier agreed to take over Amrapali’s projects and assured the court to complete construction within three years. But it had put a rider that it would not invest its money and demanded Rs 8,500 crore. It also said it would charge Rs 850 crore as consultancy fee.

Contending that the fee demanded by NBCC was too high, the Noida authorities told the court that there were other reputed builders who could complete the work at 6-8% of the construction cost.

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