{"id":9941,"date":"2020-11-13T11:35:53","date_gmt":"2020-11-13T04:35:53","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9941"},"modified":"2021-06-04T15:47:06","modified_gmt":"2021-06-04T08:47:06","slug":"indian-homebuyers-of-amrapali-projects-can-now-sell-their-unfinished-flats","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indian-homebuyers-of-amrapali-projects-can-now-sell-their-unfinished-flats\/","title":{"rendered":"Indian homebuyers of Amrapali projects can now sell their unfinished flats"},"content":{"rendered":"<p>Amrapali buyers can now sell their \u201cduped\u201d flats once their dues are cleared out<\/p>\n<figure id=\"attachment_9942\" aria-describedby=\"caption-attachment-9942\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-9942\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/11\/shutterstock_137206688.jpg\" alt=\"\" width=\"1000\" height=\"664\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/11\/shutterstock_137206688.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/11\/shutterstock_137206688.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/11\/shutterstock_137206688.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/11\/shutterstock_137206688.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/11\/shutterstock_137206688.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-9942\" class=\"wp-caption-text\">Mumbai, India cityscape. JoeRavi\/Shutterstock<\/figcaption><\/figure>\n<p>Amrapali Group is an Indian real estate company that was reported to have misled countless homebuyers, as their builders \u201cdiverted\u201d clients\u2019 money a few months ago, as told by <a href=\"https:\/\/www.thehindu.com\/news\/national\/other-states\/release-loans-to-amrapali-homebuyers\/article31799179.ece\" target=\"_blank\" rel=\"noopener noreferrer\">The Hindu<\/a>.<\/p>\n<p>As a consequence of poor financial management, an outstanding amount of around 40,000 Amrapali apartments have yet to be completed. Buyers weren\u2019t able to put them on sale due to ambiguous regulations.<\/p>\n<p>The court has proceeded guidelines for reselling of flats to those that have been searching for a way out of Amrapali\u2019s buildings. Homeowners will need to pay an extra of INR200 (USD2.67) per square feet, as well as clearing out all of their dues.<\/p>\n<p>An official from NBCC, a construction company under the Government of India, stated: \u201cmany homebuyers were not willing to take their flat even after the assurance of state-run NBCC (India) to complete the stuck housing units as per the schedule. To provide them a solution, a guideline has been prepared, where the buyer can sell the flat if he is fulfilling all the conditions.\u201d<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/demand-for-rental-homes-in-indias-major-cities-gradually-spiked-as-lockdown-restrictions-eased\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Demand for rental homes in India\u2019s major cities gradually spiked as lockdown restrictions eased<\/strong><\/a><\/p>\n<p>There are currently 23 Amrapali housing projects that NBCC is involved with.<\/p>\n<p>The guideline mentions, \u201cto mitigate the problem of certain Amrapali homebuyers, it has been decided to allow the pre-registration stage transfers on a specific request made by any concerned Amrapali homebuyer. The facility is, however, not available for contractors, investors, financiers ,and ex-employee of Amrapali.\u201d<\/p>\n<p>Many homeowners have begun to pay their dues, while NBCC plans to start the completion of the apartments in under six months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amrapali buyers can now sell their \u201cduped\u201d flats once their dues are cleared out<\/p>\n","protected":false},"author":9,"featured_media":20815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[973,216,779],"class_list":["post-9941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-homebuyers","tag-india","tag-property-sales","news_country-india","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin 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