New flats in Greater Noida West: 13500 flats will be built by NBCC in five stalled projects of Amrapali. These flats will be sold at the rate of Rs 6000 per square feet. This price is 20 to 25 percent less than the market.
NBCC New Flats in Noida Extension: 22000 flats will be handed over to Amrapali buyers by NBCC by March 2025. 135000 additional flats will be constructed in Amrapali’s project. These will also be sold by NBCC only. An investment of Rs 10 thousand crore will be made for this.
The authority has given permission for construction on the vacant land. NBCC expects to generate revenue of Rs 15,000 crore from the sale of flats. With this money, it will be easier to cover the cost of completing stalled projects, repaying bank loans and settling the liabilities of government departments.
Expected to get the keys of the flat by March 2025
After the order of the Supreme Court, Investments Reconstruction Establishment (ASPIRE) was formed to complete the stalled projects of Amrapali. The task of completing the incomplete project was given to NBCC.
Besides, the company was given the task of constructing 38,000 flats and handing them over to the buyers. In 2019, the Supreme Court appointed senior advocate R Venkataramani as the court receiver to complete the incomplete projects. After the court order, NBCC is working rapidly to complete about 38,000 flats. Of these, buyers are expected to get the keys of around 22000 flats by March 2025.
13,500 new flats will be constructed
NBCC Chairman and CMD KP Mahadevaswami said that Greater Noida Authority has given permission for construction on 75 acres of land of five existing projects of Amrapali. About Rs 600 crore will be
given to increase the FAR in the existing project. 13,500 flats can be constructed on the vacant land of these 80 residential towers. NBCC is expected to launch the newly constructed flats by June. Their booking is also expected to start from this month itself.
Flats will be available at up to 25% lower rates
NBCC officials claim that the newly constructed flats will be available in the market at 25 percent lower rates than the flats being sold by other builders. Booking of most of the flats will be done on the basis of Construction Link Plan (CLP).
Currently, in the market of Greater Noida West, builders are selling at the rate of Rs 7 to 8 thousand per square feet. But booking of newly constructed flat will be done at the rate of Rs 6000 per square feet.
How many flats in which project (estimated)
- Golf Homes-2000 Flats
- Centurion Park-2000 Flats
- Laser Park-1100 Flat
- Dream Valley-2100 Flat
- Laser Valley-6000 Flat
