Update on case

Submitted by Balvinder kumar on Wed, 09/05/2018 - 14:10

Dear Friends,
Today NBCC submitted their proposal in the SC. Details submitted by NBCC is really encouraging and indicates that the project can be completed by the NBCC, if agrees, from the funds generated from the revenue to be received from Buyers(3853 Crore), unsold inventory(2609 Cr.) and Unused FSI of 144 Lakhs sqft(2100 Cr.). By these three means they will generate around 8562 cr which is more than the estimated cost of completion of Rs 8500 Cr. But all these components will come into picture only after the start of construction which needs at least 250 cr and subsequent fund infusion till completion. Another positive sign for us is that NBCC has estimated as 36 months time to complete. But the real test and question is who will fund the project initially and how much? lets wait and watch.

Thanks and Regard,
AVHFBWA

Date: 
Wednesday, September 5, 2018