Housing brokerage firm Anarock has announced that it has already felicitated the sale of approximately 150 flats of erstwhile Amrapali Group, which is its exclusive channel partner. Anarock has got the mandate to sell around 5,400 unsold flats of the Amrapali Group, and has sold 150 units at an approximate sale value of Rs 70 crore over a month. The company will deploy its “proprietary PropTech marketing tools” to market these projects, it said.
Anarock on Thursday said it expects a total sales bookings of over Rs 2,200 crore in the next four years. The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali Stalled Projects and Investment Reconstruction Establishment (ASPIRE) and supervision of the Supreme Court of India.
What Homebuyers Should Know
Anarock has revealed the pricing of these properties in its press release, saying that they start from just Rs 20 lakh for 1 BHK flats. In Phase 1, the properties on offer range from 1 BHKs to penthouses, priced between Rs 20 lakh to Rs 1.5 crore. These are spread across 20 projects in Noida and Greater Noida, the company said.
The first sales window that opened a month ago offers 500 units in the ‘Kingswood’, ‘Golf Homes’, and ‘Dream Valley Phase 2’ projects in Greater Noida, and ‘Zodiac’ in Noida, on a first-come-first-served basis.
“An early bird offer period is currently in force, and home loan financing options are available on-site via multiple nationalized banks,” said the company.
Anarock House Selling Project — Details
The proceeds from unsold units will be utilised to complete the stalled projects of Amrapali group.
“We have got the mandate as exclusive channel partner for the sale of around 5,400 unsold homes in projects by the erstwhile Amrapali Group. The total sales bookings in value terms is estimated at about Rs 2,200 crore,” Anarock Vice Chairman Santhosh Kumar told PTI.
As per Anarock’s construction blueprint, all included projects will be completed and delivered by June 2024 at an estimated project cost of Rs 8,189.82 crore. According to the estimate, Rs 3870.38 crore will be obtained via sold inventory receivables, Rs 2,215.79 Cr via marketing of currently unsold inventory, Rs 951.15 crore via attached properties, Rs 342.74 crore via surrendered units, and Rs 88.97 crore via marketable commercial spaces, and sale of FAR (Floor Area Ratio) Rs 1220 crore.
Commenting on the development, NMCC Chairman and Managing Director P K Gupta said, “41,000+ sold and 5,000+ unsold units in 20+ stalled projects, together accounting for 46,000+ units, will be delivered by NBCC in tranches by June 2024. It is the beginning of the biggest customer redressal initiative in the history of Noida/Greater Noida’s real estate market.”
“The real estate market in Noida and Greater Noida is once again in growth mode, and there is high demand for the revitalized NBCC projects. Unsold housing stock in Noida and Greater Noida has reduced by 21 per cent in the last two years,” added Kumar.
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