Noida: Swaraj India’s Yogendra Yadav extends support to Amrapali buyers
Swaraj India founding member Yogendra Yadav extended his support to homebuyers assured them of legal help from his colleague lawyer Prashant Bhushan.noida Updated: Aug 16, 2017 10:27 IST
The homebuyers on Monday continued their protest against the builder and the Uttar Pradesh government for the fourth consecutive day outside the Amrapali Group’s corporate office building in Sector 62. Two buyers are also sitting on a fast unto death outside the builder’s office.
Swaraj India founding member Yogendra Yadav extended his support to homebuyers assured them of legal help from his colleague lawyer Prashant Bhushan. He stayed with the protesters at the site for about 40 minutes on Tuesday.
“I will not make any false promises to buyers. But I will try to help them honestly because builders have cheated them and the government in power is not willing to help. It is a long battle. Buyers should provide me adequate documents so that our legal team can help them in getting justice through courts,” Yadav said.
The Amrapali Group had in 2009 launched Amrapali Dream Valley project with a total of 47 towers in Sector Tech Zone-4. Of the 12,000 dwelling units, around 8,000 flats have already been sold but the builder has completed only 40% of the construction work.
Buyers are now protesting because the builder has failed to deliver the housing projects. National Company Law Tribunal has also admitted insolvency plea from the Bank of Baroda against Amrapali’s three firms — Ultra Homes Private Limited, Silicon City and Zodiac —thereby triggering panic among buyers about their investments.
“The Insolvency and Bankruptcy Code, 2016, has been enacted by Parliament to benefit builders and corporate houses as there is no protection guaranteed to buyers or small investers. But we will take up homebuyers’ issues to the court,” said Yadav at the protest site.
Parliament passed the Insolvency and Bankruptcy Code, 2016, on May 5, 2016. Noida’s two builders Amrapali and Jaypee are facing insolvency pleas and proceedings are underway.
Amrapali Group buyers also got support from some Jaypee Group buyers on Monday.
“We have decided to join hands and stage a bigger protest on Saturday and Sunday. We are yet to finalise the place of the protest. We will protest together so that the authorities wake up. As of now, no state government representative or builder has come forward to talk to us,” said Satish Kumar, an Amrapali Group buyer.
The eight Amrapali housing projects — Princely Estate and Silicon City in Noida’s Sector 76 and Amrapali Golf Homes, Smart, Dream Valley, Centurion Park, Leisure Park and Verona Heights in Sector Tech Zone-IV in Greater Noida West — are facing multiple issues.
The projects in Greater Noida West are to be built on 12 lakh square metres. The group needs to deliver 28,000 dwelling units in these six projects in Greater Noida, but it has failed to do so citing a dip in sales amid a slowdown in the realty sector.
“The state government should take over the Amrapali Group projects because the builder will not be able to deliver,” said Hitesh Nakashi, another Amrapali buyer.
First Published: Aug 15, 2017 23:17 IST