Amrapali turns to NBCC to complete ₹5,112 cr projects

    National Buildings Construction Corporation (NBCC)
    In a newest development in the real estate sector, Amrapali is currently negotiating with National Buildings Construction Corporation (NBCC) to take over and complete its under construction projects entailing an investment of ₹5,112 crore, said sources adding that this happened after a committee set up by the Uttar Pradesh government has directed the builder to turn to NBCC to explore the possibility of completing the much-delayed projects of Amrapali and few other builders. Amrapali is to develop a total of 40,987 units which requires aforesaid investment. Co-developers such as Noida-based Galaxy Group, IIFL-Viridian consortium and Kanodia Cement have already been roped in to complete these projects. NBCC sources, however, claimed that the proposal is currently under consideration but it is not yet clear as to which projects, if approved, will be taken over by the government controlled construction company.
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