3k Unclaimed Amrapali Flats To Be Auctioned? | Noida News – Times of India

NOIDA: Flat allotments to nearly 3,000 homebuyers with investments in 20 Amrapali projects, which are being completed under the Supreme Court’s supervision by the state-run NBCC, could get cancelled on July 5.

About 2,970 buyers, who had booked their flats and likely paid at least a portion of the total sale amount, have not filed their claims as mandated by the rules despite several extensions.
They have time till July 4 to register on the online customer portal and clear their dues for their flats to the designated bank. After this, their allotments will be cancelled and such flats will be added to “unsold inventory” to make way for auctions.
The Amrapali group is among the largest real estate defaulters, with the delivery of more than 40,000 flats pending in Noida and Greater Noida when NBCC was given charge in 2019.
The company now functions under Supreme Court-appointed receiver and senior lawyer R Venkataramani.
The top court in August 2021 gave around a total of 9,500 buyers two weeks to file their claims and register with the receiver. After several extensions, Venkataramani issued a public notice in March this year, asking buyers to file their claims and clear outstanding dues with the UCO Bank by July 4, the final deadline.
“Homebuyers who are neither registered with the customer portal nor clearing their outstanding dues in UCO Bank are hereby given the last opportunity to kindly get registered in the customer portal and make outstanding payments before July 4 and clear all outstanding dues. Otherwise, their units are liable to be cancelled and treated as unsold inventory. Thereafter, no claim will be entertained…” the notice said.
Supreme Court lawyer Kumar Mihir, who represents a group of homebuyers, said on Monday: “The court and the receiver have been trying to ascertain the identity of all the buyers. Several processes related to the projects are stuck because of that. For instance, the process of shifting homebuyers from cancelled projects to functional ones. Because there is no clarity over unsold inventory, the flats cannot be handed over to banks as mortgage properties. If any buyer is not coming forward after so many attempts, then it means they are not interested or they bought the property through illegal channels.”
Court receiver Venkataramani could not be reached for comment till Monday evening.

Atul Tiwari

Atul Tiwari

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