Good news for Amrapali home buyers, over 11K flats to be given possession in 2-3 months, SC informed

Updated: Sep 23 2022 7:46PM

New Delhi, Sep 23 (PTI) In a good news for the hassled home buyers of Amrapali Group, the Supreme Court on Friday was informed that 11,858 flats will be delivered in 2 to 3 months of which 5, 428 units will be handed over the possession in October. A bench of Chief Justice UU Lalit and Justice Bela M Trivedi was informed by court receiver senior advocate R Venkataramani that in the upcoming festive season next month 5,428 flats which have been completed by the NBCC will be given to the home buyers with electricity and water connection. "We are facing some issues in providing electricity and water connections to the other 6,430 completed flats and once the connections are provided and they receive completion certificates, these units will be handed over to the home buyers in the next two to three months", he said. The bench told Venkataramani that it is an important development that out of over 38,000 flats to be constructed more than 11,000 units are being handed over to the flat buyers and asked him to ensure that the flats are handed over to the home buyers only after realisation of full payment. The senior advocate assured the bench that all these completed flats will be handed over only after the realisation of full payment from the home buyers. He further gave the breakups of the funds saying that forensic auditors have given a figure of Rs 3870.38 crore as an amount to be realised from the home buyers but after cross-checking, they have found that the amount receivable is Rs 3,014 crore.

Venkataramani said that out of the Rs 3, 014 crores, they have till now received Rs 1,275 crore from 22,701 home buyers and the rest amount is to be received from 7939 home buyers, who have been issued show cause notices in this regard and will be realised by October 2024 as per the payment plan.

He pointed out that when the forensic audit was done the construction cost of over 45,000 flats was estimated at over Rs 8,000 crore with 12 per cent Goods and Services Tax but now the GST has been enhanced to 18 per cent and the total construction cost comes to Rs 9296.81 crore for the remaining flats.