Builder ropes in 8 others to finish projects

NOIDA: The Amrapali group, which has several housing projects pending with it, has roped in eight co-developers to complete construction of over 20 million square feet in its projects.

The projects are Princely Estate, Silicon City, Golf Homes, Smart City, Dream Valley, Centurion Park, Leisure Park and Verona Heights. According to Shiv Priya, executive director, Amrapali group, the names and credentials of these co-developers, of which two are national-level builders, have been submitted to Noida Authority

A final nod is expected from Noida and Greater Noida Authority by end of July. These new entrants will drive the completion of all pending projects and wrap them by set targets that end in 2020. "The co-developers are coming on board on the basis of ownership transfer and as financiers. So the land ownership has to be worked out by the authorities," Shiv Priya said.

Noida Authority CEO Amit Mohan Prasad said that though Amrapali had made an appeal for financial amnesty and approval of co-developers, the matter was still under scrutiny.