Home buyers in their letter had also sought possession of their flats by December 2018 and compensation for the delay at 18% per year.
In a letter to IRP Anuj Jain on Friday, about 2,400 homebuyers of Noida’s Wish Town project said the move would provide clarity on the timelines for possession of projects or compensation.
The total homes sanctioned under PMAY(Urban) has now gone up to 3,052,828. The approval was given in the central sanctioning and monitoring committee.
Builders claim the tax differential between the tax rates for a ready-to-move property and an under-construction property has compounded the problem.
Jaiprakash Associates said it "shall file its response to such application, as reported to have been filed before the Hon'ble Court, at the appropriate time."
The court ordered the developer to deposit the amount after home buyers expressed fears that the company faces insolvency.
According to the ASA report, Jaypee Infratech has spent a minimum amount of Rs 13,283 crore toward the development of the Yamuna Expressway, which translates to Rs 80.50 crore per kilometre.
Jaypee Wish Town home buyers also requested the IRP to make sure that no liabilities of Jaypee Infratech exist towards banks and financial institutions after the proposed hiving off.
"Rs 130 crore you have deposited so far. Now at least Rs 1,000 crore should be deposited," the SC bench told Unitech MD Sanjay Chandra.
The body has urged the Centre to establish a regulatory body for senior housing to invite genuine stakeholders to participate and promote fair plays in the market.
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