The state-owned NBCC said on Wednesday that it has received clearance from the Noida Authority to build five Amrapali projects for Rs 10,000 crore.

NBCC (India) Limited has obtained the in-principle approval of Greater Noida Authority for the development of unused and purchasable FAR in furtherance of existing projects of Amrapali valuing Rs. 10,000 crore (approx),” the business stated in a filing with the Stock Exchange of India.

The five projects are Centurian Park (GH-05, Sector Tech Zone-IV, Greater Noida), Golf Homes (GH-02, Sector-4, Greater Noida), Leisure Park (GH-01, Tech Zone-IV, Greater Noida), Leisure Valley (GH-02, Tech Zone-IV, Greater Noida), and Dream Valley (GH-09, Tech Zone-IV, Greater Noida).

In December 2023, NBCC announced the sale of 5,000 apartments for Rs 2,900 crore across numerous residential developments of the former Amrapali Group.

Projects Investments Reconstruction Establishment (ASPIRE) was established to finish Amrapali’s stalled projects through NBCC (India) Ltd.

According to NBCC, there were 46,575 flats across 25 housing developments, with 8,416 units already occupied by house purchasers before the Supreme Court’s decision in July 2019.

As a project management consultant (PMC), NBCC was tasked with finishing the remaining 38,159 units as well as the awaiting common amenities in projects where 8,416 units had already been delivered, at an estimated cost of Rs 8,266 crore.

NBCC CMD K P Mahadevaswamy told PTI in October 2023 that “NBCC is committed to completing Amrapali Projects despite challenges. We are devoting our energies to making the dream of home ownership a reality for the project’s home purchasers. We intend to finish all of the projects by March 2025.

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