Purvanchal & Jaipuria submit proposal to complete 3,500 flats in Noida

Noida-based builders — Purvanchal and Jaipuria — have submitted proposals to takeover the crisis-hit Granite Gate real estate company to complete its 3,500 flats pending at Lotus Panache and Lotus Boulevard housing societies, said sources. Granite Gate is facing insolvency proceedings at National Company Law Tribunal and four builders have pitched for the takeover. Purvanchal and Jaipuria have qualified to put forward their completion proposal before the committee of creditors (CoC). Resolution applicants (RAs), Purvanchal and Jaipuria, would be asked to send forth their proposals or completion plan for the two projects, and will be weighed for the most viable contestant and the buyers' vote.