Refund or flat! Amrapali home buyers in confusion, know where is the issue

Those who want to take refund in lieu of flats were given time to apply for it till July 15, 2022. 1,800 Amrapali homebuyers have applied for refund. Amrapali home buyers are in dilemma. The buyers who are unable to pay the dues due to paucity of money have also been given the option to take a refund against the flat. Last year in September, the Supreme Court had warned that the flat buyers of Amrapali Group who are not clearing their dues as per the payment plan, their units can be cancelled and will be considered as unsold inventory. Those who want to take refund in lieu of flats were given time to apply for it till June 30, 2022. Of those who had booked flats with the group, 1,800 home buyers have applied for refund. Now the time limit to opt for a refund has been increased till July 15 to take a final decision. Any person who wants to change the decision can do this during this time frame. Read | How Amrapali's directors splurged away homebuyers' money on luxury. The Supreme Court had last year informed that a consortium of six banks had agreed to start issuing loans to home buyers. Bank of Baroda, Punjab National Bank, Bank of India, SBI, Punjab and Sindh Bank, and UCO bank have formed a consortium that have agreed to give loans and finance the project.

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