With the Corporation Bank announcing an auction of Amrapali Group’s building in Sector 62 to recover its dues, buyers who have invested the realty group’s projects are panicking. The Noida and Greater Noida authorities have also failed to recover around Rs3,100 crore in land dues and also failed to provide relief to homebuyers under the project settlement policy. Amrapali Group is yet to deliver 27,000 units in Greater Noida west. We will try to recover our dues later,” Arvind Mohan Singh, financial controller of the Greater Noida authority, said. The Noida authority is also clueless on ways to revive Amrapali Group’s Noida projects.

Source: Hindustan Times August 07, 2017 17:15 UTC