Jaypee Refused Refunds To Homebuyers Of Wish Town

The homebuyers of Wish Town project by Jaypee have been informed by the developers that the construction is going on in full swing in the township. On the other hand, it has said no to the investors who want to quit the project at this point of time.

During the three-party meeting that was held between the homebuyers, developers and the officials from Noida Authority, the representatives of Jaypee Group have confirmed and assured that the construction work has resumed in Wish Town. The company has said that it will look into the concerns of each and every buyer individually.

However, they have clearly mentioned that they are in not in a position to refund the money to homebuyers who want to quit the project. According to the Director of Jaypee Infratech, the financial restructuring of Jaiprakash Limited (who is the promoter of Wish Town) is being done. The amount of Rs.600 crore, which they have received after selling the cement business, will be used for the completion of Wish Town.

The toll for the Yamuna Expressway will be monetized by Jaypee and the rest of the amount will be raised to complete the development of Wish Town.

The developers of Jaypee have also said that they will submit a completion schedule of all projects to the Noida Authority by 31st May.