NOIDA: National Buildings Construction Corporation (NBCC) has announced that it will complete the construction of 8,000 flats in the halted projects of Amrapali Group by September 2025. This marks a delay of six months from the original deadline of March, due to delays caused by GRAP restrictions and funding issues.
Of the 37,000 units NBCC was tasked with completing under a Supreme Court-appointed receiver, 26,800 flats have already been constructed.
The final set of stalled projects, Adarsh Awas Yojna, is now expected to be ready by March 2026.
As of now, approximately 13,300 homebuyers have taken possession of their flats. According to NBCC officials, once the units are complete, they inform the court receiver, who then verifies the documents before issuing no-objection certificates (NOCs) to the buyers.
NBCC CMD KP Mahadevaswamy stated that construction-related restrictions under the Graded Response Action Plan (GRAP) and delays in approvals for additional floor area ratio (FAR) have caused funding challenges, leading to the revised completion timeline.
“The first phase will now finish by September 2025, except for Adarsh Awas Yojna, which includes nearly 2,000 flats set for completion by March 2026,” he explained.
Thus far, NBCC has collected around Rs 2,600 crore from buyers, with Rs 500 crore still outstanding for approximately 3,900 units. Construction is currently in progress in two phases: Verona Heights and Dream Valley Phase 2, among other projects.
Amrapali projects, which launched in 2010, experienced significant delays, prompting homebuyers to reach out to the National Consumer Forum and subsequently the Supreme Court in 2017. Following a forensic audit ordered by the court in March 2019, which revealed mismanagement of funds, the court appointed a receiver and designated NBCC as the project management consultant in July 2019.
Initially struggling with funding, NBCC eventually secured Rs 650 crore from SBI CAP for six projects, along with a Rs 1,500 crore loan from a consortium of banks.
In addition, it collected Rs 2,200 crore from homebuyers and recovered around Rs 2,000 crore by liquidating assets of Amrapali promoters to keep the construction on track. NBCC has also infused over Rs 650 crore from its own funds.
