The group of homebuyers of Amrapali projects approached local MLA Panjak Singh to arrange a meeting with Yogi Adityanath towards the plight of 42,000 investors so that they can demand a 'stress fund' to expedite the completion of over 30,000 pending flats by the developer.
KK Kaushal, an Amrapali buyer who has invested in a Dream Valley Flat stated, “They urge the chief minister to look into matter of buyer's plight and give them a solution by generating liquidity to expedite completion. The buyers are investigating in project of Amrapali since many years and thus government should take step with some financial resolution which aims at completion of the projects."
Although the final order in this matter is pending before a division bench of Supreme Court, the bench of Justices Arun Mishra and U U Lalit earlier has Directed Nidia authority to take steps to complete pending work of Amrapali. But the authority responded that it was "technically incompetent to take up the task". Also as per earlier estimate by the government-backed construction agency, NBCC, Rs. 8,500 crore is required to complete the work of undelivered flats.
One Abhishek Kumar, president, Nodia Extension Flat Owners' Welfare Association ( Nefowa) stated, " They are eagerly waiting for Supreme Court order and hence need stress fund to complete work of flats. To fulfill this demand those group of homebuyers are requesting to arrange a meeting with Chief Minister."
Amrapali has 15 residential properties with 42,000 units, of which 30,741 are still incomplete. Forensic investigation of the builder has revealed that the builder had taken Rs 11, 652 crore from homebuyers and invested only Rs 10, 630 crore for construction work, showing a fund diversion of Rs 1,022 crore. When contacted, an official from MLA Pankaj Singh’s office said, “We will definitely look into the buyers’ appeal and respond likewise.”
Courtesy/By: Renu Kathale
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16 Jun 2019
