2,000 Wish Town flats ready, buyers not taking keys, claims Jaypee Infratech, Real Estate News, ET RealEstate

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Noida: 2,000 Wish Town flats ready, buyers not taking keys, claims Jaypee InfratechNOIDA: Even as the state-run NBCC is working on the takeover of Jaypee Infratech for the completion of its Wish Town project, the debt-ridden developer claims that some 2,400 flats are ready but the buyers have not been taking possession, citing incomplete interiors.

The interim management of the realty firm has now issued a notice that all such allottees are liable to pay maintenance charges, post six months of possession offer.

Of 35,000 Wish Town flats, Jaypee Infratech Limited (JIL) claims to have just 19,000 flats left to be constructed. Surprisingly, JIL completed 10,000 flats during the insolvency resolution period from 2017-2019. JIL’s day-to-day operation is now supervised by a monitoring company.

“It is unfair on our part to push the load of a tower’s entire maintenance fees on the families that are staying in their flats, while those who have been offered possession are simply ignoring our request to collect the house keys or complete formalities. We have decided to levy maintenance charges on all of them,” a source said.

Company sources said that Rs 500 crore is due from over 10,000 buyers, which include 2,800 who have been given an offer of possession. The amount, with interest, comes to around Rs 700 crore, they said. The builder’s office also claimed that with these 2,800 buyers holding back the final payment portion, they are not being able to give finishing touches.

Homebuyers said they would not take possession without the interior work. “The buyers claim that the builder has not finished their last bit of work and they will not pick up the keys. The builder says that they will not finish the last bit unless the final amount is settled. A resolution is urgently needed,” Jaishree Swaminathan, a buyer at Wish Town, said.

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