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NBCC to issue tenders to complete eight stuck projects in Noida

Comments Off on NBCC to issue tenders to complete eight stuck projects in Noida   |   March 24, 2020    07:54pm   |Contributed by Indian Realty News

In order to expedite the completion of eight stalled residential projects in Noida and Greater Noida, the National Buildings Construction Corporation Limited (NBCC) would soon issue a tender.

The NBCC has plans to float a tender for completing the eight stalled housing projects of Amrapali, which includes over 23,000 residential units in Noida and Greater Noida with a total investment of over Rs 5,000 crore. The decision to issue the tender was made after the directive issued by the Supreme Court (SC) to take over the stalled projects in the region.

Last year, the apex court had given the responsibility to State-owned NBCC to complete the delayed projects in NCR at the predetermined project management fees of eight percent. Earlier, last year in August, NBCC had refused to invest the capital for carrying out the Amrapali’s stuck projects, which has an investment of over Rs 8,500 crore.

Here are the list of developers and their projects that NBCC has been tasked with completing the stalled projects. 

List of projects to be completed by NBCC
DevelopersNumber of stalled projectsNumber of housing unitsEstimated cost (in Rs)
Amrapali16 projects42,000 flatsRs 7,714 crore
Unitech74 projects65,000 flatsRs 14,000 crore
Jaypee27 projects24,000 flatsRs 6,500 crore

News Published Under:   Noida | Comments Off on NBCC to issue tenders to complete eight stuck projects in Noida