India News | SC Asks Prospective Amrapali Homebuyers to Ensure Depositing Dues as Per Payment Plan
Get latest articles and stories on India at LatestLY. The Supreme Court on Friday asked all the prospective Amrapali homebuyers, and particularly of the 2,000-2,500 units in Noida and Greater Noida to ensure depositing their dues as per the payment plan, else, their entitlement to the concerned flats may be cancelled.
New Delhi [India], September 3 (ANI): The Supreme Court on Friday asked all the prospective Amrapali homebuyers, and particularly of the 2,000-2,500 units in Noida and Greater Noida to ensure depositing their dues as per the payment plan, else, their entitlement to the concerned flats may be cancelled.
A bench of the Apex Court headed by Justice Uday Umesh Lalit was hearing the issue of Amrapali homebuyers and getting of their flats on a reasonable time frame.
Lawyer M L Lahoty, appearing for many homebuyers, submitted to the Apex Court that according to NBCC, if Rs 200 crores are made available to construct the unfinished projects in Noida and Greater Noida, then this amount would be able to be handover and ensure giving 2,000-2,500 flats by December 2021.
The Supreme Court today asked all the homebuyers and particularly of the 2000-2500 units to ensure payment by October 15, but for the last 5 per cent to clear all dues positively or else their entitlement to the flats may be cancelled.
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Six banks have formed a Consortium and are likely to start funding the projects in a month, Lahoty said.
Unused FAR (Floor Area Ratio) likely to fetch over Rs 1,000 crores and NBCC (National Buildings Construction Corporation) would engage a channel partner and the Writ Petition filed in Delhi High Court against appointing channel partner is directed to be transferred in the Supreme Court, Lahoty told the Supreme Court.
The subvention issue affecting a large number of homebuyers was argued by Lahoty and the top court has asked the respective banks to respond within a week.
The Supreme court fixed the matter for further hearing to September 13. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)