NBCC taking over stalled realty projects in Haryana

National Buildings Construction Corporation

In a recent development, Haryana state’s town and country planning department (DTCP) has cancelled the licences of over 15 stalled real estate projects across the state paving the way for National Buildings Construction Company (NBCC) to take over these projects including the Amrapali's unfinished projects in Noida. The DTCP's taking over involves all aspects of a project, including security deposits. None of the 15 Haryana projects that have lost licences are comparable to Amrapali's in scale. They are mostly small and medium-sized projects, both housing and commercial, with around 1,000 buyers collectively. Nine of them are in Gurugram, followed by Karnal (3), Faridabad (2) and Hisar (1). The developers have been restrained from sale, purchase or transaction in these projects. However, developers have been offered a window of 60 days to appeal for clearing dues and remove other discrepancies pointed by the DTCP, the licences can be revived, official sources claimed