According to estimates, there is approximately 40,000 inventory that has yet to be assessed for possible purchasers
Star Estate, a leading real estate services company, is mandated to sell around 2000 unsold flats of the erstwhile Amrapali group with missing owners' including Mahendra Singh Dhoni’s flat. The court receiver has previously cancelled the allotment of flats due to the non-submission of documents and dues despite several notices.
The Supreme Court, which is attempting to raise funding for the blocked projects, then asked the state-run NBCC (National Buildings Construction Corporation) to complete the Amrapali Group's stalled projects. The state-owned NBCC will complete various residential projects in Noida and Greater Noida under the supervision of the Supreme Court of India and the Amrapali Stalled Projects and Investment Reconstruction Establishment (ASPIRE). The information provided on the website includes information about the cancelled flats from the court receiver.
Star Estate and NBCC will work together to sell 2000 flats in Amrapali, NCR. According to estimates, there is approximately 40,000 inventory that has yet to be assessed for possible purchasers. The Amrapali group's project delays have been a pain in the real estate market in Noida. Long-term bank borrowings and equity inclusions, as well as being stuck and facing delays in project completion by Amrapali builders, prompted buyers to turn to the courts. Customers are now hopeful and still waiting for possession of the flats after years of fighting and obtaining positive assistance from SC.
Commenting on the announcement, a spokesperson for Star Estate said, "We are delighted to be collaborating with NBCC to facilitate the sale of 2000 Amrapali flats in NCR." This is a significant step towards delivering relief to the thousands of purchasers who have been waiting for years for their apartments. Our staff will work relentlessly to ensure that the sale process is transparent, efficient, and customer-friendly."
The spokesperson Sachin Maheshwari added, "At Star Estate, we are dedicated to providing high-quality real estate services to our clients throughout India. We think that every homeowner deserves a home that they can call their own, and we are honoured to be a part of making this a reality for Amrapali's homebuyers."