Amrapali submit details of all its properties worth over Rs 5,500 crore in SC

Amrapali submit details of all its properties worth over Rs 5,500 crore in SC
22/08/2018 , by , in News/Views

Amrapali Group today submitted details of all its encumbered and unencumbered properties in the Supreme Court. The total realisable value of all the properties is about Rs 5,647 crore, according to the affidavit submitted by the company.

Amrapali in the affidavit proposed to complete and sell commercial spaces worth Rs 1,040 crore within two years, sale proceedings of which can be used to complete the development of projects falling under Category A and B.

According to the company, Rs 205 crore is initially required to complete about 11,403 flats in Category A projects and Rs 637 crore is initially required to complete 9,715 apartments in Category B projects.

The company also proposed to sell its properties situated in Vrindavan, Bhubaneswar, Bareilly, Indore, Jaipur, Udaipur, Raipur, Patna and Muzzafarpur, among other cities worth Rs 1,193 crore.

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