Flats not delivered on time, years of litigation, mounting expenses for buyers who purchased flats in Jaypee’s housing projects, their dreams of a home have turned into a nightmare. While another firm was brought on board to take over construction, the finish line is far from close. What went wrong? Dheeraj Mishra finds out
In March this year, a bankruptcy court had approved Suraksha Asset Reconstruction Cos (ARC) takeover of the debt-laden property and infrastructure company Jaypee Infratech, dismissing three different appeals against the Rs 7,936- crore resolution bid and rekindling hopes of about 20,000 homebuyers waiting for possession of their promised apartments for nearly a decade.
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