One of the biggest defaulters to Greater Noida and Noida Authority along with being a major sluggard in development of projects and delivery, the Amrapali Group has brought eight co-developers to finish the pending development work for delayed housing projects for around 20 million square feet of area.
The projects which are delayed and are to completed are
As per the Executive Director of Amrapali Group, all the information of the co-developers including their name and credentials has been submitted with Noida Authority.
A final green signal from the Authorities of Greater Noida and Noida is expected by July End. The main motive of the entry of new developers is to complete all the delayed projects by the targets that are set in 2020.
The coming together of co-developers is based on transfer of ownership and as financiers. Therefore, the respective authorities will figure out the land ownership. But, the homebuyers are constantly showing distrust in the builder and are saying they will only trust the builder once they witness some action.
The CEO of Noida Authority, on the entire matter, said that though the Amrapali Group has requested for the consent of co-developers and financial liberty, the matter is being closely inspected and analyzed.