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Homebuyers of Jaypee, Amrapali up The Ante Against Builders

The buyers of Wish Town project of Jaypee demanded an explanation on why their interest was being compromised upon while homebuyers of the Amrapali projects protested demanding an answer to the project delays.

Deepa Rana | CNN-News18

Updated:August 21, 2017, 5:14 PM IST
New Delhi: At least 100 homebuyers protested outside the Jaypee headquarters in Noida on Sunday. The buyers of Wish Town project of Jaypee gathered outside the developer's corporate office in sector 128 and demanded clarity on the financial impact of the National Company Law Tribunal (NCLT) driven insolvency suit on thier investments.

The NCLT had admitted the insolvency procedings against the builder on a complaint filed by the IDBI bank last week.

Angry buyers demanded an explanation on why their interest was being compromised upon. The buyers also told CNN-News18 that there is no clarity provided to them on the insolvency proceedings from either the builder or the Noida Authority. The buyers protested delays of their various projects. Rajesh, a buyer, told CNN-News18 that he had invested all his life savings in the Wish Town project in 2012 and no guarantee has been given to hundreds of buyers like him that their homes will be delivered.

The buyers also questioned as to how Jaypee Infratech went insolvent.

The officials of Jaypee also held a meeting with the buyers on Sunday and told the buyers that their houses will be delivered to them. But, the buyers said they would protest till the time the Yogi Adityanath government takes action against the errant builders.


Homebuyers of the Amrapali projects also took to the streets and carried out a hunger strike outside the corporate office of Amrapali headquarter in sector 62 in Noida. A large number of buyers protested demanding an answer to the project delays in the Amrapali projects. Buyers of Dreamvalley, Silicon City, Lesiure Valley gathered in large numbers.

Buyers told CNN-News18 that although most of the buyers have paid 80-90% of the amount for the projects, in some projects not even a brick has been laid by the builder. A large number of projects have been partly constructed and others lack basic infrastructure.

The buyers also demanded an answer from the authorities and the state government as to what happened to the FIRs and complaints registered by the buyers against the builder. Some even blamed the state administration for their callous attitude. Gauher, a buyer of Amrapali, worried that while she has been paying huge EMIs, will she ever get her dream home? The homebuyers also raised questions on the bankruptcy filed by various builders and why there is no Real estate Act in place to check corruption in the state.

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| Edited by: Bijaya Das
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