Amrapali Leisure Valley Tech Zone 4 Greater Noida, Greater Noida

Amrapali Leisure Valley, a residential project in Techzone 4 of Greater Noida West, was launched in January 2010. The project spans 52 acres and offers luxurious villas with amenities and connectivity to important locations.

Buyers of delayed Amrapali housing projects, including those in Amrapali HeartBeat City, Verona Heights, and others, planned a demonstration on October 22 in Sector 18, Noida, to protest delays and a reported cash crunch. Nearly 5,000 buyers from 11 projects in Noida and Greater Noida were expected to participate.

Amrapali homebuyers, protesting since August 12 over delays in projects like Amrapali Dream Valley and Verona Height, rejected assurances from UP ministers and continued their protest. The homebuyers expressed dissatisfaction with proposed solutions and a lack of trust in Amrapali's ability to complete projects, demanding written guarantees from the government.

The Supreme Court directed authorities to seal nine properties of the Amrapali Group in Noida, Greater Noida, and Bihar, where documents related to its 46 subsidiaries were kept. The order came after directors failed to provide documents to forensic auditors.

The Supreme Court cancelled the RERA registration of all Amrapali group companies and the lease of its properties granted by Noida and Greater Noida authorities, directing the Enforcement Directorate to investigate the group for diverting homebuyers' money. The court directed NBCC to complete unfinished housing projects in Noida and Greater Noida and hand them over to homebuyers.

UP RERA established a regional bench in Greater Noida to address complaints from NCR districts. The authority imposed penalties for non-compliance with portal updates and developed an online module for tracking order compliance.

A likely completion schedule for Greater Noida projects, including Amrapali Leisure Valley- Verona Height, was released. Completion of towers in Leisure Valley- Verona Height (Package-A) was expected in March and July 2024, while Leisure Valley- Verona Height (Package-B) was also expected to be completed in March and July 2024.

Homebuyers of Amrapali projects protested outside the court receiver's office in Sector 62, Noida, alleging that their flats were unfairly cancelled and awarded to other parties. NEFOWA claimed units were cancelled without reason and sold through channel partners. NBCC defended selling new flats in bulk to private developers as a last resort to raise funds.

NBCC sold 609 residential units in Greater Noida (West) for ₹1069.43 crore through an e-auction. The units were part of Aspire Leisure Valley and Aspire Centurian Park, being completed under the supervision of ASPIRE. AU Real Estate launched Aspire Leisure Valley at an introductory price of ₹7,979 per sq ft.

NBCC garnered Rs 1,069 crore by transferring selling rights to AU Real Estate for 609 residential units in Aspire Leisure Valley Phase 2 and Aspire Centurion Park in Greater Noida (West).

NBCC auctioned 417 residential units from stalled Amrapali Group projects for ₹1,045.40 crore. The units were sold from Aspire Leisure Valley in Greater Noida (W) and Aspire Silicon City in Noida as part of the Supreme Court-mandated ASPIRE initiative.