Policy
Supreme Court backs Anarock in Amrapali sales dispute
By Startup Enthusiast ·
- Date
- Company
- Anarock Property Consultants
- What it does
- Wins Amrapali sales mandate
- Kind
- Policy
- Based in
- Mumbai
- Founded
- 2017
What they do
The Supreme Court turned down Square Yards' plea to disqualify Anarock as sales channel partner for stuck Amrapali housing projects
What happened
State-run NBCC had rejected Square Yards' bid because its past sales value fell below the ₹2,000 crore minimum
Why it matters
NBCC was expected to issue Anarock its letter within the week, letting it sell unsold flats
The details
- The court ruling came in November 2021.
- Anarock can now sell unsold units in the Amrapali projects.
- About 300 homebuyers were also due to get possession letters that week.
- Banks were told to finish documentation and funding within two weeks.
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