Jaypee group started the development of 32,000 flats and plots in in 2007 in its township Wish Town at Noida, of which nearly 8,000 units have been delivered so far.
New Year brought a sigh of relief for many home buyers who had invested in Jaypee group. According to a report by NDTV, Jaypee group aims to complete the construction of pending 24,000 flats in Noida by 2020, a senior company official told the organisation.
At present, debt-ridden Jaypee group eyes to handover around 5,000 units by June this year.
"We have applied for occupational certificate for 1,500 units and are in the process to do so for another 3,500 units," Ajit Kumar, Jaypee advisor said.
The group would pay compensation to home buyers for the delays in possession of flats, Kumar said. The total cost of construction is likely to be nearly Rs 8,000 crore. Out of the Rs 8,000 crore needed to complete the construction, Rs 6,000 crore would come from home buyers, while another Rs 2,000-2,500 crore will have to be infused, Kumar explained.
Jaypee group started the development of 32,000 flats and plots in in 2007 in its township Wish Town at Noida, of which nearly 8,000 units have been delivered so far.
last year in December, the amicus curiae intervening in the insolvency resolution of Jaypee buyers has informed the Supreme Court that they have launched a website for buyers to register their claims.
Pawan Shri Aggarwal, the amicus curiae of the Jaypee insolvency case, said that the purpose of the website is now to help the buyers exercise their option for refund or possession of the pending apartments at Jaypee Wish Town.
"For claiming refund or possession, the buyers in India are required to upload an attested affidavit of a notary on Rs 10 or more stamp paper on which the buyer needs to specify whether they want a refund or possession of their flats. They will specifically need to mention details of the flat, villa or plot allotted; the project name and amount paid. Any person making an affidavit on the basis of power of attorney (POA) needs to upload the same along with the affidavit," said Aggarwal.
A WhatsApp number has been provided on the website for message assistance to buyers for further clarification. A separate set of requirements have been floated on the website for NRI buyers.
"All buyers are required to upload a scanned copy of the Letter of Allotment or provisional allotment (on papers only), and if the flat or villa or plot has been further resold a scanned copy of the 'resaleendorsement' page has to be attached. All buyers are required to upload a scanned copy of the buyers' photo id - AADHAR, Pan Card or Passport," Aggarwal added.
Pramod Kumar, a homebuyer said that they can register their claims on the website from today – whether they want the unit or a refund. But we are still confused why we have to fill a fresh set of documents, after we had already filled the Form C in past, as offered by the insolvency resolution professional.
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 "Jaypee group aims to finish construction of pending 24,000 flats in 2 years")
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