Real Estate Transactions

NBCC sells unused FAR of Amrapali project at Rs.43-CR

Economic Times  

State-run NBCC (India) has sold the unused floor area ratio (FAR) at the “Princely Estate” project in sector 76 Noida promoted by Amrapali Group for INR 43 crore to NCR-based developer Solid Properties Ltd. The company has to pay within six months as per the defined payment plan and it has already deposited 10% of the total amount. The money will be used to complete the stuck projects of Amrapali. NBCC is expected to raise INR 1,500 crore from the sale of unused FAR in the housing projects of embattled real estate developer Amrapali Group.

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