By THE NEWSMAN OF INDIA.COM|From rent and EMI to a home of their own: 51 Adarsh Awas Yojana families receive possession letters this festive season, as every stalled Amrapali project is now delivering homes

NBCC scripts a case study in completing stalled projects with 38000 units

This festive season, families who spent years paying rent and home-loan EMIs at the same time finally hold the papers to homes of their own, symbolically ending their “Vanvas”. At a ceremony at Leisure Valley Adarsh Awas Yojana, Tech Zone IV, Greater Noida West, R. Venkataramani, Attorney General for India and Ld. Court Receiver (Amrapali), and Dr. K.P. Mahadevaswamy, Chairman and Managing Director, NBCC (India) Limited, handed over 51 No Objection Certificates (NOCs) and possession letters to homebuyers, the final step before they receive their keys.

Adarsh Awas Yojana was the last of the stalled Amrapali projects where handover to homebuyers had not yet begun. With this ceremony (late evening of 23.10.2026), every stalled Amrapali project that NBCC is completing under the Supreme Court’s supervision has now started delivering homes.

The ceremony was also attended by Shri Ravi Bhatia and D.K. Mishra, Members of the Court Committee (Amrapali); Dr. Suman Kumar, Director (Commercial), NBCC (India) Limited; officers of the Court Receiver’s office and ASPIRE; senior NBCC officials; and members of the Ad hoc Apartment Owners’ Association (AOA) of Adarsh Awas Yojana, along with homebuyers and their families.

A long wait comes to an end
These families put their life savings, and in many cases a home loan, into the dream of owning a home. When the project stalled, many were left paying EMIs and rent together, month after month, year after year, unsure whether their money was gone for good. In the years of waiting, children grew up and parents retired.

For them, a possession letter is far more than a piece of paper. It ends the double burden of rent and EMI, and replaces years of uncertainty with security. From today, these families can plan their move and celebrate the coming festivals under their own roof.

Homes built for a lifetime
Spread over 5.1 acres in Tech Zone IV, Adarsh Awas Yojana has eight towers of up to 33 floors, rising to nearly 118 metres, with about 2.58 million sq ft of built-up area. Its 1,904 apartments come in five layouts, 975 Sqft (2Bed+2toilet), 1000 Sqft (2 Bed+2 Toilet), 1100 Sqft (2 Bed+2 Toilet+ Study), 1220 Sqft (3 Bed+ 2 Toilet) & 1300 Sqft (3 Bed+ 2 Toilet).
Residents will enjoy a clubhouse, swimming pool, tennis and badminton courts, a half basketball court, gymnasium, yoga and zumba room, community and multipurpose halls, indoor games and a children’s play area. Sustainability is built in, with a 780 KLD water treatment plant, a 930 KLD sewage treatment plant for zero water waste, and rainwater harvesting. Modern methods, including aluminium shuttering, gypsum plaster and UPVC doors and windows, were used for speed and quality.

The Amrapali revival: trust turning into homes
Today NBCC is on the verge of completing all 24 residential projects (Phase-1)under its scope. Of about 37,250 units in NBCC scope, about 35,000 units have been completed and about 23,700 handed over to homebuyers. The FAR projects (Ph.2) which has around 8200 units, the work is progressing steadily and is expected to be completed in 2028.
As on 30.9.2026, work worth around ₹13,000 Cr has been executed (Phase-1 ₹8,300 Cr, FAR ₹4,700 Cr approx,).

Delivered against the odds
NBCC had to finish the Amrapali projects with no money upfront, under COVID-19 restrictions that stopped work repeatedly between March 2020 and May 2022.Funding came only from buyers’ dues, sales and cautious bank loans. Contracts stayed at 2018 rates while costs rose 30 to 40% and steel prices doubled. NBCC also had to identify 8,440 defaulters, cancel and resell their units, and win over reluctant contractors to finish half-built structures, checking the quality of every floor.

NBCC turning challenges into smiles
NBCC turned a collapsed project into homes: about 35,000 flats are complete and about 23,700 families have moved in. The small remaining portion of flats under its scope are also scheduled to be completed soon. Flats were delivered at the original Amrapali rate, with no cost escalation passed on, not even the rise in GST from 12% to 18%.

The revival has generated about 8.5 crore man-days of employment, 4.5 crore direct and 4 crore indirect. It has paid about ₹2,000 crore in GST so far, expected to reach about ₹3,200 crore on completion, and about ₹1,200 crore in stamp duty at 6% of flat cost. The Noida and Greater Noida authorities have received ₹965 crore for the FAR projects, and other bodies such as NPCL and UPPCL about ₹100 crore. Together, this has renewed confidence in the Noida and Greater Noida housing market.

Without NBCC, about 38,000 half-built flats, worth about ₹20,000 crore at an average of ₹50 lakh each, would have decayed. Families’ savings and home loans would have turned into losses and bad loans, and land would have stayed locked in litigation. Today these are productive homes, and the FAR projects are adding new assets to the economy.

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