The Controversial Amrapali Group Will Have Its Hotels, Nursing Homes, Cars, Residential Flats and Commercial Properties Auctioned in January
By Varun Singh
Thousands of Home Buyers who had invested their life savings in buying a home with Amrapali Developers may feel good reading this. The Law has caught up with them and their properties, vehicles, hotels and even nursing homes are being auctioned. The e-auction of properties will be held on January 8, while that of vehicles on January 7.
The minimum base price of nine commercial properties, is above Rs 352 crore. The biggest property that is being auctioned is a Precast Factory located in Greater Noida spread over 1 lakh Sq Mt, will be sold at a minimum price of Rs 161 crore (base price).
The other property of which base price is Rs 72 crore is a semi furnished hotel with 222 proposed rooms located in Greater Noida. The auction includes Nursing Home, Leisure Valley, of which the base price is Rs 58.85 crore. A property adjacent to the Nursing Home is being auctioned at Rs 23 crore.
Amrapali Hospital comprising of 42 beds located at Greater Noida will be auctioned at a base price of Rs 21 crore. Amrapali Corporate Park at Sector 62 of Noida will be auctioned at a base price of Rs 8.25 crore, while Amrapali Corporate Tower at Sector 62 is being auctioned at Rs 5.50 crore. Another Corporate Tower located at Sector 63 is being auctioned at Rs 3.25 crore.
The auction also includes seven residential properties which are located at Amrapali Castle and Amrapali Eden Park. 15 cars which includes Audi, Porsche, and BMW are also being auctioned.
The auction of high end vehicles, residential flats, commercial and industrial properties of Amrapali Group is being carried out by state run company. It is being carried out on behalf of Ld Court Receiver, Supreme Court of India. The auction is pursuant to Orders of Supreme Court of India in a Civil Writ Petition filed by Bikram Chaterji and Ors. Versus Union Of India and Ors. in the matter of Amrapali Group.
