The charter was issued by NBCC in the wake of the July 10 order by the Supreme Court, asking homebuyers to help infuse working capital into the state-owned company. NBCC has said it will start the delivery of the 44,000 pending flats from January 2021.
NBCC has split the pending projects into three groups. The first group includes Zodiac, Sapphire-I, Sapphire-II, Silicon-I, Princely Estate, Platinum & Titanium, and Leisure Valley Villas. The delivery deadlines of these seven projects are between January 2021 and June 2021.
The entire payment for this category should be made between August 2020 and May 2021. The buyers can pay the dues in four instalments of 25% each.
The second group of projects to be delivered are Dream Valley Villas, Silicon – II, Centurion Park –Lowrise and Centurion Park–O2 Valley.
The delivery timeline for these apartments is between February 2022 and July 2023. For this category, buyers will have to pay up between August 2020 and April 2022.
The buyers have been allowed to pay over 10 instalments of 10% each.
In the third group, NBCC will deliver Centurion Park Terrace Homes, Centurion Park-Tropical Garden, Smart City–Golf Homes, Smart City–Kingswood, Silicon City-Crystal Homes, Leisure Valley–Verona Heights, Leisure Valley–Adarsh Awas Yogna, Dream Valley-Phase-II, Dream Valley-Enchante, Leisure Park I, II and River View. The delivery timeline for this category is from February 2022 to July 2023. The buyers have been allowed to pay in this category between August 2020 and April 2022 in 10 instalments of 10% each.
“In the next three years, we are expecting Rs 3,200 crore from buyers, and with partial funding starting from August. We expect to follow the construction schedule and deliver all flats by February 2023. Seven projects that are to be completed by June 2021, have a due of Rs 200 crore and buyers will have to pay in four instalments,” an NBCC spokesperson said.
Buyers have expressed relief with the easy payment option offered by NBCC.
“The instalments offered to the buyers is a good step. This will ensure that there will be no additional pressure on them,” Shweta Bharti, general secretary of Nefowa, said.
“It’s a reasonable plan but the issue of restructuring the loans and availability of fresh loans needs to be sorted out to ensure that no undue burden is put on the home buyers and they are able to pay their dues to ensure construction of these much-delayed projects,” Mihir Kumar, a lawyer who represents Amrapali buyers, said.