Nearly 200 of the people who had invested in Jaypee Infratech’s Wish Town and Aman housing projects have received the offer of possession. The move, however, has come as a small compensation after a wait of nine years as most houses that were handed over are unfit to move in.
The five towers for which these letters were handed out hardly have any facilities.
“The lift is not working, there is no club or shopping complex or even electricity supply. People have no choice. The bushes near the site are overgrown and have become breeding grounds for mosquitoes,” homebuyer Vinay Thukral said.
Another investor, Anup Tripathi, said: “The builder is handing over the houses in this state to absolve himself of legal responsibilities and to make sure he doesn’t have to pay penalty for late delivery. There isn’t even a car park.”
Some buyers told DNA they were under pressure to accept the offer of possession and pay the remaining 5 per cent amount, which includes the amount for the area increased and Rs 1.5 lakh as limited common area charges, and opt for registration as they were unable to pay both rent and EMIs.
“We will be given the possession letter only after we make the remaining payment and get the house registered. Finishing that will take at least 15-30 days but we are relieved that we are finally getting our house,” a buyer said.
“There was a delay of almost five years and we were forced to protest. During these years, we suffered a lot,” homebuyer Ashish Sharma said.
Meanwhile, the company officials and Insolvency Resolution Professional (IRP) were not available for comment.
Last month, the Noida authority had issued occupancy certificates for 650 flats in Sector 151’s Jaypee Aman. These ready flats were in towers N-2, N-3, N-4, N-5 and N-6. It had also issued occupation certificates for 350 ready flats in Kosmos Tower and Klassic Towers located in the Wish Town project, Sector 128.
On Wednesday, through a public notice, the IRP informed the homebuyers that he will consider their claims through records provided by Jaypee Infratech. Buyers had then demanded that those issued the possession letters of ready flats be allowed to shift and get the registry executed.
Earlier this month, the National Company Law Tribunal (NCLT) had admitted IDBI Bank’s plea to initiate insolvency proceedings against Jaypee Infratech for defaulting on a Rs 526-crore loan. The NCLT had appointed Anuj Jain as IRP, who was given six months to revive the company.
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