Deliver flats on time or face jail, Supreme Court warns Amrapali
22 Feb 2018 6:32 PM GMT
NEW DELHI: The Supreme Court on Thursday warned the Amrapali Group to hand over flats of the Leisure Valley project on time, failing which the real estate developers will be sent to jail. "We are concerned about the buyers' interest. If the developer doesn't keep the interest of the buyers and hand over the flats on time, we will send them to jail," said the Supreme Court.
The Leisure Valley project consists of 19 towers comprising 1,665 flats being built in Greater Noida. The top court directed the builders to complete its construction at the earliest.
Permitting Amrapali to collaborate with 13 other developers, the court also said that it would monitor the progress of the project. It also asked the developer to give an undertaking that it will complete the project on time.
Meanwhile, Amrapali told the court that its ten projects consist of 10,647 flats. Of this, around 980 flats can be handed over between three-six months and 2,085 flats between six to nine months. The developer told the Supreme Court that 3,130 flats could be delivered within nine to 12 months and 4,452 flats within a year.
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