Supreme Court asks Jaypee to pay Rs 50 lakh to 10 buyers for delaying the project

Jaypee news

Supreme Court directed the realty company Jaypee Associates to pay Rs 5 lakh each as an interim relief to 10 home buyers of its pending project Kalypso Court, along Noida-Greater Noida Expressway.

The developer has been asked to pay a sum of Rs 50 lakh to the Developers Township Property Owners Welfare Society which represents 10 homebuyers in the case.

Money would be paid to owners thereafter, said senior associate Sahil Sethi at law firm Saikrishna & Associates, who represented their case. Jaypee Associates launched the project, Kalypso Court in the year 2007, which supposed to have 16 towers and to be completed by the year 2011. However, most of the towers are still pending.

Home buyers seek compensation which is adequate enough to compensate their losses caused due to 5 years’ delay in the delivery, Sethi said.

“We also seek reversal of unlawful demands of the developer on the account of alleged increase in the super area and the car parking,” he added. The hearing in the case has been queued for a later date, which is not fixed now.

An email was sent to Jaiprakash Associates which remained unanswered as of press time on Wednesday. (NCDRC) The National Consumer Disputes Redressal Commission in last year May directed the JP Associates to give 12% interest for the delay in finishing the project by July 21, 2016, failing to which the company will have to pay Rs 5000 daily to every home buyer as a penalty till it hands over the flats to the buyers.

The Apex Court in last year July stayed NCDRC order, and directed the builder to deposit a sum of Rs 4 crore with the court within next two weeks time, which it complied with. The SC, however, didn’t stayed the other two parts of the NCDRC judgment which said that Jaypee cannot charge for the car parking and for increase in the super area of the apartment post construction unless it had the prior consent of the buyer.

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