Jaypee Infra Gets RERA Revalidation For 7 Stalled Projects In Delhi-NCR
Jaypee Infra Gets RERA Revalidation For 7 Stalled Projects In Delhi-NCR
The completion of over 10,000 units could begin from December 2025
Jaypee Infratech Ltd has received re-validation from the Real Estate Regulatory Authority (RERA) for seven Delhi-NCR stalled projects, comprising over 10,000 units.
This will hasten construction and possession for homebuyers and facilitate easier access to home loans from banks and financial institutions.
The seven projects are Jaypee Greens Klassic-D, Jaypee Greens Kosmos-A (Phase II), Jaypee Greens Kosmos-C, Jaypee Greens Kensington Boulevard Apartments, Jaypee Greens Kasa Isles, Jaypee Greens Krescent Homes, and Pebble Court.
In June last, Mumbai-based Suraksha Group took control of Jaypee by constituting a three-member board. Sudhir V Valia, promoter of Suraksha, was appointed a non-executive director on the Jaypee board.
The takeover followed the 24 May 2024 decision of the National Company Law Appellate Tribunal (NCLAT), upholding Suraksha’s bid to acquire Jaypee.
The appellate tribunal directed Suraksha to pay an additional Rs.1,334 crore as farmer’s compensation to the Yamuna Expressway Industrial Development Authority (YEIDA).
The seven projects comprising 10,082 units of various configurations and sizes, will be delivered as per the resolution plan in a phased manner beginning December 2025.
Meanwhile, the process of obtaining RERA’s re-validation for other Jaypee projects is also underway.
Initiated by the IDBI Bank-led consortium, the Corporate Insolvency Resolution Process (CIRP) against Jaypee began in August 2017.
On 07 March 2023, the National Company Law Tribunal (NCLT) approved Suraksha’s bid to buy Jaypee. In May 2024, the NCLAT gave the go-ahead.
The lenders of Jaypee had submitted a claim of Rs.9,783 crore.
Ever since, Suraksha has infused funds and commenced construction of stalled housing projects for over 20,000 homebuyers.
The company requires Rs.6,500-Rs.7,000 crore investment to complete 160 residential towers of various projects.
In its final resolution plan, Suraksha offered over 2,500 acres of land and Rs.1,300 crore non-convertible debentures to the banks. It proposes to complete all stalled projects over the next four years.
