The
home buyers in Delhi NCR region will get some breathing space after several
years of frustration and legal battle. There is a possibility that a solution
may be in sight for thousands of home buyers in Jaypee Infratech and Amrapali
projects in Noida. According to an estimate, the total cost of completing
both the projects shall be around Rs 15,000 crore. ENDS The NBCC (India) is likely to
take up the projects to ensure their completion, and hand them over to their
bona fide owners. Reportedly, NBCC will act as a Project Management Consultant
(PMC) to the projects and ensure their completion by engaging third-party
construction companies.
As a precaution, NBCC has
sought full control of the finances through an escrow account though the charge
of the company will remain with the current promoters, or with the Insolvency
Resolution Professional (IRP). After the projects are completed, a call can be
taken on dividing the surplus money lying with the escrow account.
The
home buyers in Delhi NCR region will get some breathing space after several
years of frustration and legal battle. There is a possibility that a solution
may be in sight for thousands of home buyers in Jaypee Infratech and Amrapali
projects in Noida. According to an estimate, the total cost of completing
both the projects shall be around Rs 15,000 crore. ENDS
The NBCC (India) is likely to take up the projects to ensure their completion, and hand them over to their bona fide owners. Reportedly, NBCC will act as a Project Management Consultant (PMC) to the projects and ensure their completion by engaging third-party construction companies.
As a precaution, NBCC has
sought full control of the finances through an escrow account though the charge
of the company will remain with the current promoters, or with the Insolvency
Resolution Professional (IRP). After the projects are completed, a call can be
taken on dividing the surplus money lying with the escrow account.