90% of home buyers are unaware of the impact of insolvency on their developers, reveals Magicbricks Consumer Choice Poll

With some top developers in the National Capital Region (NCR) filing for insolvency, a Magicbricks Consumer Choice Poll revealed that about 90% of investors are unaware of their rights and how they are impacted when their developer is declared insolvent.

Magicbricks, India’s No.1 property site, conducted the poll (sample size of 900) to get insights into buyer understanding of insolvent developers. In the light of the Jaypee Infrastructure group being run by an Insolvency Resolution Professional at the behest of IDBI Bank, (presently stayed by the Supreme Court), Ms. E Jayashree Kurup, Head- Content and Advisory, suggests that “The effort with insolvency is to ensure that buyers get their homes and lenders get their money.

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