New Delhi, Jul 23 : The Supreme Court on Tuesday cancelled the Real Estate Regulatory Authority (RERA) registration of embattled real estate major, Amrapali Group, and asked the National Buildings Construction Corporation (NBCC) to take over all the pending projects in Noida and Greater Noida area.
"We cancel the RERA registration of Amrapali Group. The NBCC is asked to take over all the pending projects in Noida and Greater Noida area and hand over the unfinished projects to the buyers," a two-judge bench of the Apex Court, headed by Justice Arun Mishra, said in its judgement.
It also held banks, Noida and Greater Noida authorities liable for Amrapali mess saying their officials had connived with builder for siphoning of home buyers money.
The order come as a reprieve to more than 40,000 home buyers who will get their homes if due diligence by the NBCC is being made, as per the verdict of the Supreme Court. (UNI)