Diwali gift for Amrapali buyers as apex court ensures possession

The Supreme Court verdict has come as a breather for the flat buyers of Amrapali. During the hearing on Monday, the Supreme Court said that NBCC will prepare 300 flats by December and 150 flat buyers will be given possession of the flat on the occasion of Diwali 2021. That is, on November 4, 100 buyers will get the key to their flats. It was  also told that the bank consortium is ready to fund the Amrapali project in principle. Justice U U Lalit and Justice Ajay Rastogi appreciated this effort. The Court Receiver told the court that the consortium of 6 banks is ready in principle to fund the Amrapali  Project. State Bank of India (SBI) and UCO Bank (UCO Bank) are ready to fund Rs 450 crore.

However, the Supreme Court has asked banks to take a decision on the final proposal on funding in two weeks. After Amrapali bumped into criminal and monetary trouble, since the 2019 verdict of the Supreme Court, for the first time, 150 home buyers will be given possession letters for the flats in a project which was stalled.