Experts explain why SC directive on Jaypee will protect homebuyers

Around 30,000 homebuyers of Jaypee have been trying to get the possession of their properties

The Supreme Court (SC) has stepped in to safeguard the interests of thousands of homebuyers in the National Capital Region after the civic authorities as well as the government failed them, according to finance and consumer affairs professionals.

The apex court’s directive on Monday to Jaypee Associates to deposit Rs 2,000 crore by October 27 with its registry came a week after it had stayed insolvency proceedings against its infrastructure arm, Jaypee Infratech.

While homebuyers, they say, have a long-drawn battle ahead, the court’s order will help start that process.  “The directive by the SC to Jaypee Associates is in