TALKING POINT: Home buyers of Paramount at receiving end due to insolvency

By Praveen Dwivedi
Photo: City Spidey
Posted: Dec 20, 2018

The insolvency declaration of Paramount Prop Built Ltd by the National Company Law Tribunal (NCLT) is affecting the home buyers in a big way. Now, all the construction works at various projects have been halted and this has caused trauma to the people.

The home buyers are affected as handing over of the flats and registrations have also been halted. They are now agitated with the development and intrigued about the prospect of getting their flats.   

The home buyers who have already got the possession are also facing the problems. Now, the maintenance activities have suffered due to non-payment by the developer.

City Spidey had an extensive discussion with a home buyer over the issue.

TAGS: Paramount Prop Built Ltd / National Company Law Tribunal / Possession of Paramount flats / NCLT declares Paramount insolvent / Noida news