Seven banks to disburse Rs 1500 cr for completion of stalled projects of Amrapali
New Delhi Mar 30 PTI A consortium of seven banks will disburse Rs 1500 crore loans to complete the construction of stalled projects of erstwhile Amrapali group following a direction by the Supreme Court The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali Stalled Projects and Investment Reconstruction Establishment ASPIRE and supervision of the Supreme Court On March 28 the Supreme Court directed the Bank of Baroda-led consortium of seven banks to effectuate disbursal of Rs 1500 crore by Tuesday for the construction of stalled real estate projects of Amrapali Group In a statement NBCC said that an agreement has been signed between ASPIRE and a consortium of seven public sector banks on March 29 for the disbursal of Rs 1500 crore loan for stalled Amrapali projects The seven banks in consortium are — Bank of Baroda Indian Bank UCO Bank Punjab National Bank Bank of India State Bank of India and Punjab Sind Bank Nearly 40000 homebuyers awaiting possession of their dream homes will be benefited by this progressive initiative the NBCC said Housing brokerage firm Anarock has got the mandate to sell around 5400 unsold flats of erstwhile Amrapali group Recently Anarock said it has already facilitated the sale of 150 units for Rs 70 crore It expects a total sales bookings of over Rs 2200 crore from the entire available inventories for sale PTI MJH SHW SHW
New Delhi Mar 30 PTI A consortium of seven banks will disburse Rs 1500 crore loans to complete the construction of stalled projects of erstwhile Amrapali group following a direction by the Supreme Court The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali Stalled Projects and Investment Reconstruction Establishment ASPIRE and supervision of the Supreme Court On March 28 the Supreme Court directed the Bank of Baroda-led consortium of seven banks to effectuate disbursal of Rs 1500 crore by Tuesday for the construction of stalled real estate projects of Amrapali Group In a statement NBCC said that an agreement has been signed between ASPIRE and a consortium of seven public sector banks on March 29 for the disbursal of Rs 1500 crore loan for stalled Amrapali projects The seven banks in consortium are — Bank of Baroda Indian Bank UCO Bank Punjab National Bank Bank of India State Bank of India and Punjab Sind Bank Nearly 40000 homebuyers awaiting possession of their dream homes will be benefited by this progressive initiative the NBCC said Housing brokerage firm Anarock has got the mandate to sell around 5400 unsold flats of erstwhile Amrapali group Recently Anarock said it has already facilitated the sale of 150 units for Rs 70 crore It expects a total sales bookings of over Rs 2200 crore from the entire available inventories for sale PTI MJH SHW SHW
