NOIDA: It was a day of relief and victory for thousands of homebuyers who were waiting with bated breath for the voting results of Jaypee Infratech Limited’s (JIL) corporate insolvency case.
Many are now hopeful of getting their dream houses.
Jayashree Swaminathan, a homebuyer, said, “Apart from waiting for the flat itself, these long-drawn legal battles and several rounds of insolvency have tried our patience.
This time, the buyers have taken informed decisions and read between the lines of the proposals to come out for Suraksha.
Many were wary of the gaps in NBCC’s proposal and so the result tilted towards Suraksha this time.” “Finally, we can see the light at the end of the tunnel — our long wait, protests have not gone for waste.
It is a happy day to see buyers secure their rights.
We are hopeful that Suraksha will not let us down in any manner,” said Ajay Kaul, another buyer.
Buyers have demanded immediate beginning of construction at the project site.
“We are happy that a conclusion has been reached.
Construction should start now as the delays are over,” Ashish Mohan Gupta, another buyer, said.
Kumar Mihir, a lawyer representing buyers of several realty projects in Noida, said he hopes that the matter will attain finality now and there will not be another round of litigation.
“This will also be a test of the adjudicating authority and efficacy of the insolvency case itself, especially with respect to real estate where more often projects are stuck for long for the final approval of the resolution plans.”