NBCC (India) Limited on Wednesday said it got approval from the Noida Authority to develop five Amrapali projects worth Rs 10,000 crore.1

The five projects are Centurian Park, GH-05, Sector Tech Zone-IV, Greater Noida, Golf Homes, GH-02, Sector-4, Greater Noida, Leisure Park, GH-01, Tech Zone-IV, Greater Noida, Leisure Valley, GH-02, Tech Zone-IV, Greater Noida, and Dream Valley, GH-09, Tech Zone-IV, Greater Noida.

Amrapali owes Noida and Greater Noida authorities over Rs 5,500 crore for lease payments and penal interest. NBCC was assigned as the project management consultant (PMC) in 2019 to finish the 24 stalled Amrapali projects, which include 38,500 flats. Amrapali declared bankruptcy and deserted the projects, leaving numerous homebuyers who had put their money in them stranded.

In December 2023, NBCC announced sales of 5,000 units for Rs 2,900 crore across several residential projects of erstwhile Amrapali Group. As per the Supreme Court order, Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of Amrapali through NBCC.

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• 1. "NBCC (India) Limited has obtained the in-principle approval of Greater Noida Authority for the development of unused and purchasable FAR in furtherance of existing projects of Amrapali valuing Rs 10,000 crore (approx)," a regulator filing issued by the company said.