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TMI Blog2018 (5) TMI 2023X X X X Extracts X X X X X X X X Extracts X X X X ..... s. There are certain C category projects. With respect to those projects also, as they are not taken care of during swapping or there may be certain buyers not willing for swapping or certain amount may be required to be refunded to the buyers, who are not intending to purchase now and not opting for swapping or/and is not feasible, to take up those projects. The promoter shall also file its proposal with respect to such buyers who want their money to be refunded. Let that proposal be also filed after swapping is done indicating therein as to how many persons require to refund the money. The buyers in C category projects only who are intending to obtain refund, may also submit their proposal to the concerned promoter in the meantime, within one month from today - The promoters with respect to Silicon Valley have applied for connection for electricity, sewerage and water, as per order passed by this Court on 10.5.2018. The aforesaid order be carried out punctually. The promoters of the Silicon Valley has undertaken to make the payment of dues onwards. The matter has been heard in part and requires further hearing. List on 18.7.2018 at 2.00 p.m. - Writ Petition(s)(Civil) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v., Ms. Srideepa Bhattacharyya,Adv., Ms. Harpreet Lamba,Adv., For Mr. Sumit Attri,AOR, Mr. Vikramjeet Benerjee,ASG, Ms. V. Mohana,Sr.Adv., Mr. S.S. Shamshery,Adv., Mr. Mukul Singh,Adv., Mr. Mukesh Kumar Maroria,AOR, Mr. Shubhendu Anand,Adv., Mr. Ranjit Kumar,Sr.Adv., Mr. Alok Kr. Agarwal,Adv., Ms. Rati Tandan,Adv., Mr. Manoj Kumar,Adv., Mr. Apoorv Rastogi,Adv., Mr. Harshal Kumar,Adv., Mr. Gaurav Goel,AOR, Mr. S.B. Upadhyay,Sr.Adv., Mr. Krishnam Mishra,Adv., Mr. Nishant Kumar,Adv., For Ms. Anisha Upadhyay,AOR, Mr. Amit Sibal,Sr.Adv., Mr. Manmeet Singh,Adv., Mr. S.S. Ray,Adv., Mr. Anshul Tyagi,Adv., Mr. Prithvi Sidhu,Adv., Ms. Saloni Sharma,Adv., Ms. Anjali Anchayil,Adv., Mr. Dhruv Mehta,Sr.Adv., Mr. Amit Goel,Adv., Mr. Ashwani Bhardwaj,AOR, Mr. Vishnu Sharma,AOR, Ms. Anupama Sharma,Adv., Ms. Sonali Negi,Adv., Mr. Mohit Rai,Adv., Mr. Gaurav Bhatia,AOR, Mr. Utkarsh Jaiswal,Adv., Mr. Abhishek Singh,Adv., Ms. Geetanjali Shahi,Adv., Mr. Anugrah Robin Frey,Adv., Ms. Rakhi Ray,AOR, Mr. Subodh K. Pathak,Adv., Mr. Pawan K. Sharma,Adv., Mr. Shashi Ranjan,Adv., Ms. Pranita Shekhar,Adv., Mr. Dharmendra Kumar Sinha,AOR, Mr. P.B.A. Srinivasan,Adv., Mr. Aman Gupta,AOR, Mr. Parth D. Tandon,Adv., Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iven by Amrapali along with the proposed co-developer had been placed before the concerned lawyers representing the flat owners in those projects and lawyers of NOIDA and the representatives of Greater NOIDA and broad consensus has been reached. 3. The following are the basket-wise proposals: FIRST BASKET I. SAPHIRE PHASE-I IN NOIDA : In relation to Saphire Phase-I, consisting of 1033 units, the time given is of 10+2 months for completion of the project. II. SAPHIRE-PHASE-II : It consists of 1308 units and the time sought for completion of the project is 12 to 15 months. The promoter of the Saphire Phase I II projects is M/s. Amrapali Saphire Developers Pvt. Ltd. The developer chosen by the promoter is M/s. Galaxy Dreamhome Developers Pvt. Ltd. With respect to Saphire Phase II project, as agreed to by the promoter, the relevant agreements entered into with co-developers to be placed within one week. The documents shall be filed afresh, even if the same had been filed earlier, duly supported by an affidavit. Let the undertaking of concerned promoter/co-developer be also placed on record within seven days. III. LEISURE PARK : This project comprises of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed within 12 months. The co-developer is M/s. India Infoline Limited (IIFL) M/s. Galaxy Dreamhome Developers Pvt. Ltd. A.2. PLATINUM TITANIUM : (a) Platinum comprises of 888 units; and (b) Titanium comprises of 54 units. The work in the said units shall be completed within 7 months. The codeveloper being M/s. IIFL or M/s. Galaxy Dreamhome Developers Pvt. Ltd. Let the requisite undertaking by the concerned promoter and co-developer be filed within seven days in this Court. A.3. EDEN PARK : Eden Park comprises of 316 units. The work shall be completed within 7 months. The co-developer is M/s. Galaxy Dreamhome Developers Pvt. Ltd. Let the promoter and co-developer to file requisite undertaking within 7 days from today. CATEGORY B PROJECTS : The following are category B projects : B.1. CENTURIAN : A. CENTURIAN PARK: Centurian Park comprises of low rise 600 units. The work shall be completed within 10 months. B. TERRACE HOMES : Terrace Homes comprises of 3481 units. The work shall be completed within 21 months. C. TROPICAL : Tropical comprises of 1240 units. The work shall be completed within 30 months. D. O-2 Valley : O-2 Valley ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase-wise manner. b) Dream Valley-2 (High Rise) : This project comprises of 8302 units. The work shall be completed within 9-35 months. c) Enchante : This project comprises of 1508 units. The work shall be completed in phase-wise manner within 42 months. The co-developer is M/s. Galaxy Dreamhome Developers Pvt. Ltd. Requisite undertaking by the promoter and the co-developer shall be filed within seven days. II. LEISURE VALLEY : a) Leisure Valley Villas which comprises of 887 units, the work shall be completed within 6-15 months. b) Verona Heights Jaura Heights comprise of 4964 units and the work shall be completed within 42 months. c) Adarsh Awas Yojna - comprises of 1904 units and the work shall be completed within 30 to 42 months. The promoter of the projects is M/s. Amrapali Leisure Valley Pvt. Ltd. and the co-developer is M/s. Galaxy Dreamhome Developers Pvt. Ltd. III. HEARTBEAT CITY 1 2 : a) In Heartbeat City-1 project, the number of units are 759 plus shops. The time limit is 10-18 months; and b) In Heartbeat City-2 project, the number of units are 1217 plus shops. The time limit is from January, 2020 to December, 2020. The promoters ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed property of Amrapali Centurion Park (Commercial) held on lease hold basis from the Greater NOIDA Industrial Authority and its distress value is ₹ 246 crores (Rupees Two Hundred Forty Six Crores). 7. There are some other commercial properties, which are in the form of hotels and other commercial properties comprising of malls, etc. and those can also be sold for completion of projects. As and when a concrete proposal is submitted before us for sale, the same shall be considered and appropriate orders would be passed in this regard. However, the amount of ₹ 250 crores (Rupees Two Hundred Fifty Crores) has to be deposited by 15th of June, 2018 without fail, in the escrow account to be opened with the UCO Bank of this Court. 8. There are certain outstanding dues of the buyers. It would be open to the buyers to deposit the said amount in the said escrow account. However, as soon as the projects are completed, we propose to give them reasonable time to deposit the outstanding dues. As soon as the promoter and co-developer are in a position to hand over the possession, the buyers shall have to deposit the outstanding amount in the escrow account to be opened in the UC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be refunded to the buyers, who are not intending to purchase now and not opting for swapping or/and is not feasible, to take up those projects. The promoter shall also file its proposal with respect to such buyers who want their money to be refunded. Let that proposal be also filed after swapping is done indicating therein as to how many persons require to refund the money. The buyers in C category projects only who are intending to obtain refund, may also submit their proposal to the concerned promoter in the meantime, within one month from today. 14. The promoters with respect to Silicon Valley have applied for connection for electricity, sewerage and water, as per order passed by this Court on 10.5.2018. The aforesaid order be carried out punctually. The promoters of the Silicon Valley has undertaken to make the payment of dues onwards. 15. The joint statement that has been filed has been signed in the Court by the learned counsel for the promoters as well as by learned counsel for the authorities and the flat buyers, is placed on record and made part of this order as Annexure-A . 16. The aforesaid Committee constituted by us is also requested to evaluate the work u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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