SC’s judgement on Amprapali: Anuj Puri, Chairman –  ANAROCK Property Consultants:

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23 July 2019: We are looking at a major landmark judgement favouring aggrieved homebuyers. The Supreme Court’s cancelling registration of all companies of Amrapali Group under state RERA is indeed a remarkable judgement and will hopefully set a badly-needed precedent for righting the wrongs imposed on helpless homebuyers held hostage by stuck projects.

This ruling will have a far-reaching positive impact on the Indian housing market and, by eliminating weak links in the value chain, ultimately paves way for financially sound and ethical developers flourish. Several homebuyers will now get relief as they will also not have to bear the extra burden of the pending statutory dues.

With NBCC given the charge to complete all these projects, buyers are being shown real light at the end of a long, dark tunnel.

Such moves will have a long-lasting impact on the overall real estate sector and not just on some buyers.