For Jaypee home buyers, wait for court order may get longer – ET RealEstate

NOIDA: For some 17,000 homebuyers of Jaypee Wish Town, the wait for a resolution might stretch into 2021 as the courts are set to close for winter break next week.

“Over the past few days, we have been discussing this issue at video conferences. In its October 8 hearing, the Supreme Court had reserved its judgment. Now that the courts are closing for winter break next week, the pending issue of construction of the remaining flats will only be resolved in 2021,” said Ashish Mohan Gupta, a buyer.

Jayshree Swaminathan, another buyer, said, “Since our case has been heard by the Supreme Court, we are sure of an order. We hope it comes in December as only a week is left for the court to close for winter break. It has been a very long wait for the buyers and 2021 will be a decisive year.”

Of the 30,000 total flats in Wish Town, 17,756 are yet to be completed, according to NBCC. Of these pending flats, there are 656 in Aman, Garden Isles has 2,945 flats, Kasa Isles 1,871, Kensington Boulevard 3,372, Klassic 1,371, Krescent Homes 2,585 flats, and so on.

Of the 250 towers in Wish Town, construction of 110 towers is over. A total of 94 towers is almost 70% ready. In another 10 towers, the construction status is between 70%-90%. There are 6 towers where 90% of the construction has been done. Among the entire lot, there is only one tower where work is yet to start.

“The long-drawn insolvency process has tested our patience. It seems 2020 is leaving us empty-handed and 2021 is when we will finally know our fate,” Gupta said.



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