This case involves a large number of writ petitions and a special leave petition filed by homebuyers against the Amrapali Group of Companies, the Union of India, and other respondents. The petitioners, who booked apartments in various real estate projects in Noida and Greater Noida between 2010 and 2014, alleged that the Amrapali Group failed to deliver possession of approximately 42,000 flats within the promised 36 months, despite receiving 40% to 100% of the total consideration. The builders also failed to pay dues to the Noida and Greater Noida Authorities and banks, leading to a serious breach of their obligations under the subvention scheme, causing a double loss to the buyers who were making EMI payments.
…In 2011, the Amrapali Group of Companies launched various real estate projects in Noida and Greater Noida, proposing to construct approximately 42,000 flats. Brochures were published, assuring delivery of possession within 36 months and promising world-class amenities. Homebuyers booked apartments between 2010 and 2014, signing Standard Form of Allotment-cum-Flat Buyers Agreements, and paid 40% to 100% of the total consideration. Despite these payments, they faced the threat of forfeiture of huge booking amounts and non-delivery of flats.
…Various homebuyers booked apartments in…
Supreme Court directed…
Sign in to view related legal provisions.
This case involves a large number of writ petitions and a special leave petition filed by homebuyers against the Amrapali Group of Companies, the Union of India, and other respondents. The petitioners, who booked apartments in various real estate projects in Noida and Greater Noida between 2010 and 2014, alleged that the Amrapali Group failed to deliver possession of approximately 42,000 flats within the promised 36 months, despite receiving 40% to 100% of the total consideration. The builders also failed to pay dues to the Noida and Greater Noida Authorities and banks, leading to a serious breach of their obligations under the subvention scheme, causing a double loss to the buyers who were making EMI payments.
…In 2011, the Amrapali Group of Companies launched various real estate projects in Noida and Greater Noida, proposing to construct approximately 42,000 flats. Brochures were published, assuring delivery of possession within 36 months and promising world-class amenities. Homebuyers booked apartments between 2010 and 2014, signing Standard Form of Allotment-cum-Flat Buyers Agreements, and paid 40% to 100% of the total consideration. Despite these payments, they faced the threat of forfeiture of huge booking amounts and non-delivery of flats.
…Various homebuyers booked apartments in…
Supreme Court directed…
Sign in to view related legal provisions.