Several home buyers heaved a sigh of relief after the Supreme Court on Tuesday directed the cancellation of registration of Amrapali Group and ordered the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of embattled real estate group.
Azam, one of the buyers told : "We are very satisfied with the Court's order. The government should now control the builders strictly so that we get our apartment as soon as possible."
"I booked a flat in 2010, which I should have gotten in 2012. Till date I have not received any flat," he said.
Annu Khan, director of buyers association said: "This is a historic decision. This also serves as an example for the builders who think of carrying out frauds."
"The SC instructed banks to not pressurize the buyers for instalments. This came as a relief for us. They also directed the NBCC to build the houses on 8 per cent interest," he said while stating orders that bought reassurances to the buyers.
Another buyer said: "On one side the banks kept on calling us for instalments while on the other side no construction had even started for the flat I bought in Amrapali Dream Valley"
"After today's verdict we now hope we will soon get our houses," he added.
The SC had ordered NBCC to complete the unfinished housing projects of embattled real estate group in Noida and Greater Noida and handover these to the home-buyers after the registration of Amrapali Group was cancelled.
A bench of the top court headed by Justice Arun Mishra further directed the Enforcement Directorate (ED) to conduct a detailed investigation against the group for diverting homebuyers' money.
( With inputs from ANI )