12,352.35-3.15
Stock Analysis, IPO, Mutual Funds, Bonds & More

Noida Authority to execute registry of over 450 Amrapali Sapphire flats

Of the 42,000 Amrapali flats sold so far in multiple projects, some 14,000 are currently occupied by homebuyers. Sapphire I flat owners are among the first ones lined up for registration. There are 1033 buyers in Sapphire I.

TNN|
Updated: Oct 18, 2019, 11.47 AM IST
0Comments
The Supreme Court-appointed receiver has instructed the Noida Authority to execute the registry of 454 flats in Amrapali Sapphire Phase 1 in Sector 45.
The Supreme Court-appointed receiver has instructed the Noida Authority to execute the registry of 454 flats in Amrapali Sapphire Phase 1 in Sector 45.
(This story originally appeared in on Oct 18, 2019)
NOIDA: The Supreme Court-appointed receiver has instructed the Noida Authority to execute the registry of 454 flats in Amrapali Sapphire Phase 1 in Sector 45. The documents for these flats have been verified and are in order, according to receiver R Venkatramani. There are 1033 buyers in Sapphire I.

On July 23, the court removed the Amrapali group from its housing projects, cancelling its registration and land lease deeds, and took control by appointing a receiver and asked state-run NBCC to complete the projects. Of its 42,000 flats sold so far in multiple projects, some 14,000 are currently occupied by homebuyers. Sapphire I flat owners are among the first ones lined up for registration.

However, Venkatramani’s message to the Authority has created some doubts among buyers. “We’re happy some action is finally being taken for the registration process, but we have not yet seen how the tripartite agreement would look like. Buyers should at least know what they are being asked to sign,” Ravi Kant, a buyer in Sapphire, said. “We will ask the Authority for clarity on the tripartite agreement.”

Also Read

Maradu flats demolition: Restoring the faith of homebuyers

In a first, DDA to offer penthouses, luxury flats

Allotment letter adequate proof of investment in flat: ITAT

Cheesed off chef’s plea falls flat

Home prices to remain flat in Delhi-NCR

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service