Home buyers boycott Jaypee group's meeting over delay in delivering flats

Noida: Homebuyers from various stuck projects of Jaypee Infratech builder showed apathy to the meeting that was called by former chairman and managing director (CMD) of builder's group Manoj Gaur, on Friday, which was aimed at addressing their grievances relating to the delay in delivery of flats at various residential projects in Noida.

The builder's group invited homebuyers for a conversation on delay in delivery of over 22 thousand flats at Jaypee institute in sector 62 of Noida, however, only one per cent of the total affected buyers attended the meeting while nearly a two hundred others sat on a hunger strike outside the venue, boycotting the meeting.

The homebuyers seem unconvinced, saying that over Rs 12,000 crore is required for completion of pending projects, for which no roadmap has been provided by the builder's group.

"Home buyers from various stuck projects of Jaypee Wish town project received email from Manoj Gaur who extended his support and called us for a meeting on Friday. However, we decided to boycott the meeting as it has now been 5 years hearing to such fake lucrative offers and false promises. The builder group never have clear roadmap to build our home after collecting around 90-95 per cent money and after cheating homebuyers from past so many years, on what basis we should support the builder's group," said Pramod Kumar, a flat buyer in Jaypee builder's Garden Isles project in Jaypee wish town.

Kumar further said that the matter is in court and such a public meet is of no use now. The builder must come up with something concrete so that the buyers may get assured that they won't be cheated this time.

Meanwhile, Gaur, during the meeting assured home buyers that the completion of Wish Town projects will be done in next 3.5 years.

"There are around 20, 524 units pending to get completed in various projects of with town. We have carved out a plan to complete 2300 units in first year, 7462 units in second year while rest of the units will be completed in the next one and a half year. We have also a plan of putting Rs 1500 crore in an Escrow account which will be monitored by a committee under a retired SC judge, with the amount to be utilised for completion of flats with interest on delays," said a senior officer of Jaypee Infratech limited.

However, the home buyers have decided to stage a much intensified protest and to sit on an indefinite hunger strike after May 23.