Jaypee Group agrees to return money, but without interest
People who bought flats in Jaypee Wish Town, Sector 128, Noida, want their money back. The realty group had promised possession of flats by 2014, but the project is yet to be completed.
A group of 200 people organised a protest in front of owner Jay Prakash Gaur's office.
Manoj Gaur, the CMD of Jaypee Group, came to office in a chopper and flew back without meeting the group, snubbing homebuyers waiting for him in the scorching sun.
Ishwarchand Tirkha, a buyer, told City Spidey that the builder had failed to stick to deadlines over and over again. "The builder should return our money with interest," he said.
Rajesh Singh, another buyer, said, "The builder has the audacity to tell us that our money has been invested in other projects. The builder has failed to deliver our flats, while the banks continue to charge interest. All we want is our money to be returned with interest. But when we came here to ask for what is ours, the builder used police force and bouncers to stop us."
Pratistha Sharma, another buyer, broke down. "It is impossible to pay the rent and EMI together. We face a huge financial crunch every month and feel helpless. I am planning to sue the builder," she said.
When City Spidey tried to contact Manoj Gaur, his office said the company was facing financial problems and were willing to return the money to buyers, but without interest.