Suraksha Group says Jaypee flats to be delivered by March 2028

Suraksha Group, which took control of Jaypee Infratech Limited in 2024, said it will complete all the 20,000 homes by March 2028.

The company has completed construction of 84 towers comprising 7,913 units but almost 3,000 homebuyers have not come to take possession of the homes, creating a unique challenge for the firm.

The firm said that completion deadline might extend by six months if NGT imposes construction ban due to pollution.


Suraksha is expected to invest about Rs 5,500 crore towards completing construction of about 20,000 homes of Jaypee group in Noida and Greater Noida, of which around Rs 1,500 crore has been invested and balance will be invested in phases.

“About Rs 1,000 crore we are expecting from the toll collection in two years and another Rs 2,500 crore we will generate through unsold units. Then we also have customer receivables,” said Sudhir Walia, non executive director for the Surakhsha group.

Overall, 159 residential towers are to be completed.

“We are confident of completing the balance towers on time but are facing challenges of buyers not taking possession. Simultaneously, we have started the process of expansion and will launch three townships,” said Walia.

Suraksha’s upcoming pipeline will comprise unsold inventory, relaunches and fresh projects, catering to evolving consumer demand across Noida and the Yamuna Expressway.

Fresh launches will include premium, luxury and ultra-luxury residential developments, along with plotted residential and industrial developments. These are planned across key locations including Wishtown, Sector 151 and the Yamuna region, enabling Suraksha to address multiple segments of the evolving NCR real estate market.

Suraksha also plans to develop three new integrated townships, one of 256 acres and others of 85 acres and 124 acres.

“Over the last two years, our approach has been very clear, we had to first deliver on our commitments to existing homebuyers and bring the stalled projects firmly back on track. With more than 50% of construction completed and the remaining deliveries progressing as per the stipulated timelines, we believe we are now at an appropriate stage to enter the next phase of growth,” said Jash Panchamia, Executive Director, Jaypee Infratech Limited.

On May 24, 2024, the National Company Law Appellate Tribunal (NCLAT) approved SurakshaGroup's resolution plan, directing the company to compensate YEIDA with Rs 1,335 crore over the next four years for the benefit of farmers.

Suraksha's plan, submitted to the bankruptcy court in April, originally proposed Rs 1,216 crore in enhanced compensation, with payments structured as 10% within 90 days, 15% by the end of the first year, and 25% annually over the next three years.

According to homebuyers, 20,000 families of Jaypee Wishtown, Noida, have been struggling for more than the last 10 years to get their dream house.

Each homebuyer has incurred expenses twice the amount paid to Jaypee Group for their home by way of interest and rent in these 10 years. Since 2014, Jaypee has not laid a single brick in approximately 100 towers.

The delivered flats are also below the standard quality and amenities promised by them at the time of booking and have not been provided.

Jaypee Infratech, a real estate and infrastructure company, was among the initial 12 entities the central bank had referred to the NCLT in August 2017 under the Insolvency and Bankruptcy Code (IBC).