As many as over 3000 flats of insolvent Amrapali Group, completed by NBCC (National Building Construction Corporation) at the behest of Supreme Court, have remained unclaimed, possibly due to benami ownership.
After the Amrapali Group became insolvent in 2017, Supreme Court ordered the NBCC to complete stalled projects of the defaulting builder. NBCC was working on 16 housing projects of Amrapali in Noida, Greater Noida and Manesar. NBCC has already completed around 25000 flats worth INR 7823 crore. In addition, the PSU real estate developer has raised the structures of another 15200 housing units across different projects.
Meanwhile, the Supreme Court has asked the Attorney General R Venkataramani (appointed Receiver by the apex court) to file the details of all unclaimed flats so that these could be sold in the market to raise funds. It is significant to mention that the benami bookings of Amrapali flats was earlier flagged by forensic auditors in their report. Meanwhile the interesting aspect of the whole episode is that many buyers of Amrapali apartments who defaulted on payments over the last 6 years, are now turning up to make payments to claim the flats as after completion these flats have appreciated many times over the last one decade since these flats were booked.
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