[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Shubham Pundir |
staff of Kamagroup Pvt. Ltd. Here I have important INDIA REAL ESTATE news
to share with you which is as under mentioned.
Five years ago, street protests broke out as buyers realised Jaypee would not
be able to deliver 22,500 flats in its Noida projects, primarily Wish Town. Today,
after many legal battles, government intervention and a complex insolvency
resolution process that has not made any headway towards an answer, the buyers
are no closer to getting their flats than they were five years ago. It’s been a long,
attritional battle without a final solution. Sharmila Bhowmick reports.
For years, Krishan Mitroo would hit the streets alongside many others waiting for
possession of their houses and shout slogans against Jaypee Infratech Ltd. Now
tired and a little subdued, the 70-year-old has moved out of the protest group,
hoping to find a more effective way of getting his flat.
22,500: Houses undelivered across all Jaypee Infrastructure Ltd projects
10 years: Length of time buyers have been waiting for flats
Rs 6,000 crore: NBCC estimate of funds needed to complete all flats
2023: Timeline for completion of all flats that Jaypee has given
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/no-ones-thinking-of-the-homebuyer/articleshow/70255722.cms
Kamagroup Pvt. Ltd.
Have a nice day.