Jaypee Infratech had on July 13 obtained the occupancy certificate — permission to offer possession and registry of ready flats — from the Noida authority for five towers of Jaypee Aman, located in Sector 151 and three towers in Wish Town, located in Sector 128.
Jaypee Infratech is likely to give an offer of possession to another 200 flat owners who have invested in Jaypee’s Green Aman in Sector 151, before the end of this month. “Another 200 buyers are likely to get it (offer of possession) before the end of this month. This exercise will certainly create positivity, but like the previous lot,these houses are simply unfit to move in,” SK Nagrath, president of Jaypee Aman buyers’ association, said. Jaypee Infratech had on July 13 obtained the occupancy certificate — permission to offer possession and registry of ready flats — from the Noida authority for five towers of Jaypee Aman, located in Sector 151 and three towers in Wish Town, located in Sector 128.
On August 26, the builder had given the offer of possession to about 200 buyers. “So far, of the 200 homebuyers who had got offer of possession, hardly anybody has paid the amount and have got the registration done. There is still confusion in getting the house registered as per carpet area or super area,” Nagrath said. Homebuyers get the possession letter only after they make the remaining payment and get the house registered in a month. With no clarity on the registration of the flat, homebuyers may soon take the legal route. “There is a lot of confusion regarding getting the flat registered as per the carpet area or super area. We are consulting lawyers and will soon file a case against the UP government… RERA has taken a back seat in Uttar Pradesh when it comes to providing relief to homebuyers,” Nagrath said. Carpet area is the space contained among the inner faces of the walls. The super area includes spaces outside the walls, such as balcony, and other common areas such as clubs, shafts and elevator area. Uttar Pradesh stamps and registration department is still executing registration of properties on the basis of super area, instead of carpet area, which is not in compliance with RERA and is also burdening buyers. RERA has made it mandatory for developers to disclose the carpet area of the units that they sell.
Last week, a Supreme Court bench, in an attempt to solely protect the interest of around 32,000 flat buyers had restored the insolvency resolution proceedings against Jaypee Infratech and also asked its parent company to deposit `2,000 crore on or before October 27. Modifying its September 4 order that stayed the insolvency proceedings initiated by IDBI Bank against Jaypee Infratech, the CJI had directed the insolvency resolution professional (IRP), appointed by the National Company Law Tribunal (NCLT), to submit within 45 days an interim resolution which shall include the interest of “low- and middle-income homebuyers”, who have invested in the real estate major’s 27 housing projects in the National Capital Region. The apex court had also appointed senior counsel Shekhar Naphade and counsel Shubhangi Tuli to participate in the meetings of the committee of creditors to “espouse the cause of homebuyers and protect their interests.” The next date of hearing is on November 13. Today, the IRP chaired the first committee of creditors meeting, where all the participants apprised him of the situation, sources said.