NOIDA: Desperate to salvage its image after cricketer Mahendra Singh Dhoni quit as its brand ambassador a month ago, realty firm Amrapali has committed to speed up delivery of its flats over the next three months.
Amrapali executives had earlier this week held a meeting with Noida Authority chairman Rama Raman, in which they were directed to hand over the apartments to homebuyers as soon as possible and pay up dues. Company representatives told ETRealty (TOI) on Friday they will hand over at least 80% to 90% of their apartments in the next three months and the remainder by the end of this year.
“We have handed over 40% of apartments in Sapphire, Silicon, Zodiac and Platinum. In three months’ time, we want to complete and hand over as many apartments as we can. We have asked the Noida Authority to help us keep our unfinished inventory as mortgage and provide completion certificate so that we can hand over the houses to our buyers at the earliest,” a company spokesperson said. The Amrapali group has been drawing flak from its buyers on social media as well as from the Noida Authority, both for delayed constructions as well as for poor quality of maintenance offered at various apartments.
However, the spokesperson said, “We have not been able to maintain our apartments well because the people who have started living there are not paying any maintenance charge. So now we want to speed up our completion. We have urged the Noida Authority to give us financial relief by keeping our unsold inventory as mortgage.”
But the possibility of a mortgage on the basis of unsold inventory, which was proposed by Credai to Noida Authority in a recent meeting, have now been ruled out by senior Credai members. “It is possible to surrender unused land to the Authority, but how can a valuation be fixed on structures that are not complete? Though a proposal was made by some builders for the same, it is not going to be feasible,” Credai-NCR president Manoj Gaur said.