The decision was taken on the demand made by the homebuyers of Jaypee Greens Knight Courts that the promoter completes the remaining work because a new developer may further delay the project.
SBICAP Ventures has cleared applications from realty developers for stressed real estate projects investment worth over Rs 10,000 crore.
A major relief to the homebuyers in the stalled projects of the Amrapali group. The NBCC will play a major part in ensuring the in-time completion of the projects once the adequate financing is promised by SBI CAP and UCO.
Out of the total 45,000 houses in the stalled projects of Amrapali Group, the process of completion of about 40000 housing units has begun. A huge relief to the homebuyers.