22 Feb , 2021 By : Admin
Construction work at Jaypee Greens Knight Court has started as the Real Estate Regulatory Authority (RERA) of Uttar Pradesh authorised realty developer Jaypee Associates Ltd to complete the stalled Jaypee Greens Knight Court project in Noida in co-operation with Association of Allottees.
Knight Court is among the five projects at Wish Town that are promoted, sold, and developed by JAL, not Jaypee Infratech Ltd NSE -3.03 %, which is in insolvency resolution.
More than 300 homebuyers of the project along with senior members of RERA attended the “Pooja Ceremony” which was organised at the site by the Jaypee Associates in association with the allottees.
The project will be completed now within 15 months which had been stalled since 2014 and the registration date of the project had lapsed in December 2020.
The group housing development NSE -3.26 % project located in Sector 128, Noida, has eight towers and there are 310 allottees. Not more than 60% of the project work had been completed before it got stalled for a variety of reasons.
“The authority is serious about its mandate for facilitating the completion of the projects and delivery of the houses to the homebuyers. The authority is hopeful that many stalled projects will be completed under this win-win partnership for both homebuyers and promoters,” said Rajiv Kumar, chairperson, UP RERA.
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