NBCC
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In a recent development which may become good news for many stranded homebuyers, Central Public Sector Enterprise, NBCC is said to be preparing a Rs 15000 crore plan to complete the unfinished projects of Amrapali group and Jaypee Infratech. This move will benefit nearly 50,000 home buyers who have invested their lifetime savings in the both the builder’s project.

According to a report published in Economic Times, NBCC has projected around Rs 8,000 crore for Jaypee’s projects and Rs 7,000 crore for completing Amrapali’s apartments. The Public Sector Enterprise is also planning to take help from the Noida Authority to suspend the dues from builders till the project is completed.

Consistent approach from many home buyers led the central government to take such action. Keeping this in mind, the Govt has set-up a high-level committee to work out a plan to complete the incomplete flats by three builders, including The 3Cs Group. Till now, the committee has met thrice with the home buyers to understand their problems.

The ET report said, “The plan is to get the homebuyers, with payments due to put in money into as well as raise some resources which will flow into a dedicated account that will be used only for completing the projects.”

The report further said that NBCC however, will not take over any of these companies, on the other hand, it will be designated as a project management consultant. The charge will remain with the current promoters or the insolvency resolution professional or any appointed nominee from the board of these three companies respectively.

To give a financial relief to aspiring homebuyers, NBCC has also advised Noida authority and banks, to not ask for any other money from them till the time their flats are not delivered to them.

Currently, NBCC is executing projects worth Rs 80,000 cr across India. The Company has also an overseas presence in various countries like Maldives, Turkey, Botswana where they are implementing various projects and earning consistent revenue.