SC appoints NBCC to develop stalled projects of Amrapali Group

NBCC will float tenders in the next 15 days to appoint contractors for construction of stalled housing projects of debt-ridden realty firm Amrapali, the state-owned company's CMD Anoop Kumar Mittal said Thursday.

On September 12, the Supreme Court had appointed NBCC to develop stalled projects of the Amrapali Group following the company's proposal that it could complete 15 stalled projects, comprising 46,575 flats, within 36 months at a construction cost of Rs 8,500 crore.

Yesterday, the apex court allowed NBCC to float tenders for selecting builders to complete the stalled projects of Amrapali Group.

"We will float tenders in the next 15 days," Mittal told reporters when asked about court's direction related to Amrapali.

The company would also prepare a detailed project report for all the stalled projects within the next two months as directed by the Supreme Court, he added.

On arrangement of funds, he said the company would go by the apex court's directions and also denied any talks with Piramal group to raise funds.

Mittal said the project management fees proposed by the company for completing Amrapali projects was not on the higher side.

The company expects construction work to start from December for the first set of projects comprising over 11,000 apartments.

If this happens, this would give a huge relief to a large number of home buyers with stock investments.

Asked about the seven redevelopment projects in South Delhi that are on hold because of the uproar over falling of trees, he said the company would abide by court's directions and follow all the government regulations.

On Wednesday, the Delhi High Court appeared inclined to permit redevelopment of six south Delhi colonies, including Sarojini Nagar and Nauroji Nagar, if the project gets all the requisite approvals as per law.

The court reserved its order after hearing arguments on behalf of all stakeholders, including the environment ministry, residents of the area and NBCC, regarding the redevelopment of six colonies of Sarojini Nagar, Netaji Nagar, Thyagaraja Nagar, Kasturba Nagar, Mohammadpur and Srinivaspuri.

It would separately consider the redevelopment of the seventh colony -- Nauroji Nagar -- on a later date.

"The work has been stopped since last three months. The losses can be worked out. If work starts in these seven projects, of which three are tasked with NBCC and four with CPWD, it will be good," Mittal said.

The court is hearing public interest litigations (PILs) challenging the terms of reference (ToR) and the environmental clearances granted to the housing projects at seven colonies claiming that it would result in the felling of around 16,500 trees.

(With inputs from agencies.)