Home buyers got a reason to rejoice after National Consumer Disputes Redressal Commission (NCDRC) delivered a game changer verdict in Jaypee Group’s Kalypso Court project delays on the Noida-Greater Noida expressway.

The NCDRC has directed Jaypee Group to give the possession of the homes to Kalypso Court buyers within three months (by July 21), or pay Rs 5,000 per flat per day if projects are not delivered in 90 days. Jaypee Group has also been asked by NCRDC to pay penalty of 12 per cent per annum for delaying possession of home to buyers.

In the judgement, which most home buyers will hail and which can be a game-changer for the real estate sector, NCDRC has directed the Jaypee Group to provide adequate car parking spaces in the project and refund the excess amount, if collected for parking areas with interest rates 12 per cent per annum from the dates of charging, till its realisation.

The case was filed by Developers Township Property Owners Welfare Society a forum representing 10 home buyers in Jaypee Kalypso.

Welcoming the judgement, Arvind Jain, president, Developers Township Property Owners Welfare Society, said “The verdict will send a strong message to builders that they should not take home buyers lightly. Buyers till now have suffered because of linkages between the politicians, brokers and bankers. Now the momentum has changed in favour of home-buyers.”

The commission also said that there was no proof on the builder’s claim that there has been increase in the internal area, hence the builder was not entitled to any additional amount from the buyers.

Sahil Sethi, lawyer of the Developers Township Property Owners Welfare Society, said, ” it is a game changer verdict and will set the tone for real estate functioning going forward. No one till now had questioned the charges on super area after construction.”

The move comes amid various protest by buyers in Delhi-NCR over delayed projects. Recently, Amrapali faced a flak of people after residents of housing society ‘Sapphire’ in Noida started social media campaign against the builder in April, forcing cricketer M S Dhoni to resign as the brand ambassador.

According to JLL India, the average delay in NCR projects is more than 2 years and for India average is around 18-20 months.

After taking cue from residents of Amrapali Sapphire project, buyers of other housing projects, being built by Gaursons, Supertech, Unitech and Today Homes & Infrastructure among others, have launched protests as well as on social media platforms.

According to reports, Jaypee Kalypso project was launched in 2007 and was to be completed by 2011.