To achieve the same, the court allowed the realtor to partner with 13 developers. It also asked the group to submit an undertaking for the same at the court within March 7.
On the second consecutive day of the hearing of the Amrapali Group today, the Supreme Court told the realtor that the top brass of the company could be sent to prison if it failed to complete work on time. The apex court ordered the group to complete construction of 19 towers of Greater Noida West's Leisure Park project. It also directed the realtor to finally finish 1,665 flats under various projects, which are almost ready for possession. For this, the court allowed the realtor to partner with 13 developers.
The court has asked Amrapali Group to submit an undertaking for the same at the court within March 7.
The next hearing has been scheduled for March 27.
According to buyers of Amrapali projects, most had booked flats in 2010, and they were told the projects would be completed in three years. They also deposited 90 per cent of the flat amount to the developer.
In the details filed by the realtor with the Supreme court, it has been stated that 980 flats out of 1,10,647 flats in 10 projects will be delivered between three to six months; 2,085 flats between six to nine months; 3,130 flats between 9 to 12 months and 4,452 flats will be ready for possession between 12 to 15 months.
In the first phase, Rs 87 crore will be spent to complete work on 19 towers in different projects.
Santosh Singh, a buyer, said that 31,200 buyers (out of 42,000) were present in the court today for the hearing. They had already given Rs 470 crore to the builder.
