COVID-19 has impacted project execution as well as revenues; Steps are in place to enhance workforce at all sites, including Amrapali projects.
Homebuyers say that they have waited far too long and want their homes to be registered at the earliest
IRP Anuj Jain has been directed to continue managing the affairs of the embattled firm
A decision in this regard was taken in a meeting of Committee of Creditors (CoC) held here. This is the third round of bidding process, which has been initiated on the direction of the apex court.
Lenders of debt-ridden Jaypee Infratech will meet on November 18 to take forward the process of insolvency resolution following the Supreme Court's directions on November 6.
Disallows Jaypee Associates from participating in the bid; only NBCC (India) Ltd and Suraksha Realty Ltd can bid for Jaypee Infratech
In the new proposal that NBCC plans to submit before the Supreme Court next week, it may also propose completing all unfinished 16 projects within four years.
FM held discussions with realtors, homebuyers, RERA officials.
Will outstanding amount collected from homebuyers be enough to kickstart construction of stuck projects in Delhi-NCR?
For homebuyers, NBCC comes with a sense of sovereign guarantee but there are concerns that completing more than one lakh housing units will be a tall order
Supreme Court has deferred the hearing on the Jaypee matter for July 18 after the Centre told the court that NCLAT will hear the case on July 17
Homebuyers’ demanded an assurance from the chief minister that incomplete homes are delivered and that his government implement the recommendations made by a high-level committee of UP state and central government.
The voting will be held from May 31 to June 10, sources said.
The 12th committee of creditors meeting expected to take place on May 30, post which the resolution plan may be put to vote on May 31.
The e-voting started at 12 pm and will end on May 19 at 8 pm, sources said, adding the results will be declared on May 20.
Homebuyers complain that the situation has left them confused.
Over 600 buyers attended the meeting, which they termed as an 'eyewash'.
Homebuyers demand higher delay payment amount paid by NBCC and shorter timelines for completion of units.
Homebuyers have been demanding an independent audit to determine why Jaypee Infratech had failed to deliver the projects.
In its bid, NBCC has promised to deliver flats to homebuyers in four to five years from the transfer date, subject to the availability of the cash flows from the respective projects
The Committee of Creditors has recommended that a forensic audit be conducted as demanded by Jaypee homebuyers.
Noida based Investors Clinic is a leading real estate broker with 34 offices across India. It competes with other organised brokers like Anarock, PropTiger, Quikr Realty, 360 Realtors and Square Yards in property brokerage business.
Post the Jaypee, Amrapali and Unitech case, homebuyers are definitely more informed. Despite that, the trust deficit is bound to continue as a majority of them are still apprehensive about under construction projects.
The board has decided to grant the Jaypee group, which was supposed to make the payment by September, a final one month's time to clear their debts, or face coercive actions including cancellation of land allotment, a senior official said.
Sources said that L&T Infrastructure may not be invited for bidding as the company is only given a conditional bid for taking over Yamuna Expressway project.