NBCC floating tenders for ₹5,000-cr realty projects

NBCC is set to float tenders for development of eight stalled housing projects of crisis-hit Amrapali group in Noida and Greater Noida at an estimated investment of ₹5,000 crore. The company has received a letter from R Venkataramani, court receiver appointed by the Supreme Court to call the tender for 8 Housing projects comprising 23013 Housing Units at Noida and Greater Noida. The apex court had appointed NBCC to develop these projects and fixed the project management fees at 8 percent. It may be recalled that in August last year, NBCC had said that it will not "invest any money" in completing Amrapali's stalled projects as they entailed a whopping ₹8,500 crore.