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Noida: Amrapali group directors submit passports to district magistrate

Amrapali group’s three directors — Anil Kumar Sharma, Ajay Kumar and Shiv Priya — have handed over their passport to the Gautam Budh Nagar district magistrate, BN Singh, on Sunday.

noida Updated: Aug 14, 2017 09:21 IST
Preety Acharya
Preety Acharya
Hindustan Times
Amrapali,delay in flats,Noida flats
Amrapali homebuyers protest outside the builder’s Sector 62 office in Noida on Sunday.(Sunil Ghosh/HT )

Amrapali group’s three directors have submitted their passport to the Gautam Budh Nagar district magistrate, BN Singh, on Sunday.

In the letter written to the DM, the trio — Anil Kumar Sharma, Ajay Kumar and Shiv Priya — has said that the decision of handing over passport is taken to assure the buyers that they have no intentions to flee from the country. They have written that they are committed to giving the possession of people’s flats, shops and offices. “We have got the passports of the three directors of Amrapali group. It was their own decision. We are seriously looking into the complaints against the group and exploring all the legal options to decide further action,” the DM said.

“We have submitted our passports to restore buyers’ confidence. We want to make it clear to buyers that we don’t want to run away. We are here to resolve all hurdles to revive our housing projects and deliver,” said Priya.

In the letter, the directors have said that the buyers don’t need to panic as they are committed to completing all the projects despite facing multiple legal issues like stays granted in land acquisition proceedings, National Green Tribunal orders and the current stay on account of a farmer petition. They have also claimed that until recently, they have been paying the loan.

“We have already taken steps to shift the buyers from the towers which had become unviable due to various court orders and stays granted to the towers where the FSI and maps are approved,” claimed the letter.

The directors also said, “In number of projects, to instil further confidence in the buyers, we have already opened escrow accounts so that the construction takes place under the supervision of the buyer’s representative so that the money due to the banks and financial institutions is also paid.”

The Noida and Greater Noida authorities are yet to approve a proposal by the Amrapali Group to introduce eight co-developers to finish its partially built housing projects.

Under pressure from the homebuyers and the UP government, the Amrapali Group is trying to introduce co-developers to deliver flats in eight of its housing projects in Noida and Greater Noida.

The eight Amrapali housing projects in question are Princely Estate and Silicon City in Noida’s Sector 76 and Amrapali Golf Homes, Smart, Dream Valley, Centurion Park, Leisure Park and Verona Heights in Sector Tech Zone-IV in Greater Noida West.

The projects in Greater Noida West are to be built on 12 lakh square metres. The group needs to deliver 28,000 dwelling units in these six projects, but it has failed to do so citing a dip in sales amid a slowdown in the realty sector.

First Published: Aug 13, 2017 23:24 IST