Jaypee buyers push panic button after Allahabad HC stay

The Allahabad High Court on Thursday stayed construction of a Jaypee Group multi-storeyed building on an 18 bigha land on a petition by a Noida-based farmer, who alleged that the plot was fraudulently acquired from him. The land is in Ghejha-Tiltabad village, which is a part of Noida’s Sector 134, where Jaypee Greens Kosmos project is coming up.

“So far, we have not received a certified copy of the High Court order. We will comment and decide the further course of action only after studying the court order,” a senior Jaypee Group official said. Construction was going on at full clip in all six projects of the realtor where nearly 80 towers were being raised. Each tower comprises 14-21 floors. The cost of a residential unit at the time of booking in 2010 was between Rs 45 lakh to Rs 3 crore depending on the size of the flat. “Despite complaints, Noida Authority has taken no action as yet,” said a member of Jaypee Wishtown Noida Buyers Association (JPWNBA).

Suyog Aggarwal, who had purchased a unit in Jaypee Greens’ Kosmos project in Sector 134, said he regrets having invested his nest egg. The petitioner Kalu Ram has alleged that the land wasn’t acquired by the State Government and was transferred by the Noida Authority to Jaypee Group illegally. The counsel for Kalu Ram told court that according to the law, land must be acquired by a State Government before it is transferred to a State agency like Noida Authority. Since the land has not been acquired, it cannot be transferred to a third party, the lawyer argued. He also requested the court to set aside the order by which the land of the petitioner was transferred to the company. In 1995, Noida Authority had acquired 18 bigha land in Ghejha-Tiltabad village from Kalu Ram, Mehraj Singh, Kuria Pradhan, Ratiram Awana and others. The authority paid a compensation for only 16.5 bigha land. When the realtor took possession of land, Kalu Ram moved court seeking a stay.