26k flats in stalled Amrapali projects ready, 8k by Sept
Of the 37,000 stalled units that govt-run construction company was tasked to complete under Supreme Court-appointed court receiver, 26,800 flats have been constructed so far.
The last of the stalled projects, Adarsh Awas Yojna, is expected to be ready by March 2026.
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So far, around 13,300 buyers have got possession of their homes. NBCC officials said once units are ready, they notify the court receiver, which verifies documents before issuing no-objection certificates (NOCs) to homebuyers.
NBCC CMD KP Mahadevaswamy told TOI that although the projects were initially planned for completion by March 2025, construction-related restrictions under the Graded Response Action Plan (GRAP) and delays in approvals for additional floor area ration (FAR) led to a funding crunch.
"As a result, the first phase will now conclude by Sept 2025, except for Adarsh Awas Yojna, which has close to 2,000 flats and will be completed by March 2026," he added.
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NBCC has collected around Rs 2,600 crore from buyers, with Rs 500 crore still pending from about 3,900 units.
Currently, work is underway in two phases of Verona Heights and Dream Valley Phase 2, and some other projects.
Launched in 2010, Amrapali projects faced severe delays, prompting homebuyers to approach the National Consumer Forum and later the Supreme Court in 2017. Following an SC-ordered forensic audit submitted in March 2019, which revealed gross fund mismanagement, the court appointed a receiver and designated NBCC as the project management consultant in July 2019.
Initially, NBCC struggled with funding but later secured Rs 650 crore from SBI CAP for six projects and a Rs 1,500 crore loan from a consortium of banks.
It also collected Rs 2,200 crore from homebuyers and recovered around Rs 2,000 crore by selling Amrapali promoters' assets to keep the construction moving.
NBCC has also infused over Rs 650 crore from its own funds.
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