Ansal API Sushant Megapolis Paradise Crystal Bodaki, Greater Noida

Ansal API has launched Paradise Crystal, a residential project in Greater Noida, offering 2 bedroom apartments ranging from 1060 sq.ft. to 1315 sq.ft. for sale and rent in Sushant Megapolis, Greater Noida.

Ansal API home buyers of Sushant Megapolis project are protesting against the company due to project delays; the 2,500-acre township has buyers who have invested up to 50 to 90% of the project cost. Ansal API has over 27 projects in multiple cities which are running behind schedule, with average delays of 3 to 4 years.

Delhi Police filed an FIR against Ansal Hi-tech Township Ltd, a subsidiary of Ansal API, for fraud and criminal breach of trust for failing to deliver houses and plots to buyers of the Sushant Megapolis project in Greater Noida. The court noted that the company had advertised the Sushant Megapolis project in 2008, assuring timely completion, but after five years, there was no sign of development.

The National Consumer Disputes Redressal Commission (NCDRC) directed Ansal Hi-Tech Townships Ltd. to refund the amount deposited by complainants along with interest at 9% per annum from the date of deposit. The order was in response to a complaint filed by Ansal API Megapolis Buyer's Association, representing flat buyers in the “Megapolis Green Hi-Tech Township” project in Bulandshahar, adjoining Greater Noida, UP, due to delays in handing over possession.

Paradise Crystal Zone II (A, M, P & Q), developed by M/S UTTAM STEELS & ASSOCIATES, officially launched on 01-Apr-2015 and is expected to be completed by 31-Dec-2022, with RERA No. UPRERAPRJ5001. The project comprises 4 towers and offers 264 residential units, including 2 BHK, with unit sizes ranging from 700 to 700 Square feet across a total area of 5.29 Acre.

The National Company Law Appellate Tribunal (NCLAT) set aside a plea seeking insolvency proceedings against Ansal Hi-tech Township Ltd filed by homebuyers of a project in Greater Noida. The appellate tribunal upheld the order passed by the Delhi-based bench of the National Company Law Tribunal (NCLT), which had in January 2023 set aside the plea of homebuyers, observing that the allottees belong to different projects and do not fulfil the required criteria to file an insolvency case.

UP RERA has imposed a fine of ₹14.4 crore on Ansal API for selling 329 flats without registration in a project located in Noida. The company was found to have launched and sold flats in Golf City without registering the project with RERA, violating regulations established after 2017.