42K Amrapali buyers get justice
New Delhi: Supreme Court's verdict on the Amrapali Group vindicated nearly 42,000 buyers who had their hard-earned money stuck in projects the real-estate group had promised to finish by 2014, at the latest. More than half a decade later, the Apex court decision to cancel the group's RERA registration, asking the NBCC to take up all pending work has led to all vested parties breathing a huge sigh of relief, with the highest judicial authority in the nation recognising their grief.
"Till yesterday (Monday) we had no hope. From there to where we are today (Tuesday) is something amazing. There is now hope and not just that, we are confident that the court will monitor the situation to make sure we get our dues, "Shweta Bharti, General Secretary of the Noida Extention Flat Owners' Association, which approached the Apex court in 2017, said, talking to the Millennium Post.
The NEFOWA general secretary had purchased a flat in Amrapali's Centurion Park in 2011 and was supposed to get delivery of the unit in December 2013. "Six years on and now we are living on rent and also paying our EMIs," Bharti said.
Ritesh Singh, an advocate by profession who booked a flat in Amrapali Dream Valley in Greater Noida West said, "Its good that ownership has been taken from the Amrapali group and given to NBCC. Undoubtedly, SC's judgment is a win-win situation for all home buyers. However, I am worried as home buyers have been asked to pay their remaining dues within one month."
"The verdict is out but as an advocate, I would say that it will take some more time to get clarity on the matter as the court would require time to complete the legal process. I personally believe, if all goes well then it will take at least six months to start work on the projects," Singh concluded.