{"id":"f-e550251d2f-d43efa97-c8a8-5b05-a63e-9d949b587e52","title":"Suraksha Group completes nearly 6,000 Jaypee Wish Town homes, relief in sight for 20,000 buyers","description":"Suraksha Group said it has completed 5,989 homes across 63 towers at Jaypee Wish Town, receiving occupancy certificates for 3,135 units, offering relief to over 20,000 homebuyers awaiting possession.","timestamp":1768225935,"category":"business","headline":"Suraksha Group completes nearly 6,000 Jaypee Wish Town homes, relief in sight for 20,000 buyers","modifiedHeadline":"Jaypee Homebuyers See Relief as Homes Complete","subCategories":["scid_4a0451c7"],"region":"IN","bundleMetaData":{"bundleId":"7b48871c-c993-4956-b43d-6f46f8e1b036","bundleTitle":"Today In India","cardData":null},"iabCategoryId":"451","fcSummary":"Suraksha Group, which took control of Jaypee Infratech in 2024, has completed 5,989 units across 63 towers in Jaypee Wish Town, offering relief to 20,000 homebuyers. Occupancy Certificates have been received for 31 towers, with applications for 32 more pending.","summary":"Hope dawns for 20,000 Jaypee Wish Town buyers as Suraksha Group completes 5,989 homes, with occupancy certificates for 3,135 units.","ctaUrl":"https://trends.glance.com/newz/India_News/IN/en/cnbc-tv18/f-e550251d2f-d43efa97-c8a8-5b05-a63e-9d949b587e52","sourceUrl":"https://www.cnbctv18.com/real-estate/suraksha-group-completes-nearly-6000-jaypee-wish-town-homes-relief-in-sight-for-20000-buyers-19819172.htm","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/SmBFR_3G8Gx0.webp","content":"Nearly a decade after thousands of homebuyers were left stranded following stalled construction at Jaypee Wish Town, Suraksha Group on Monday said it has completed 5,989 residential units across 63 towers, offering incremental relief to more than 20,000 buyers awaiting possession.\n\n
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\n Suraksha Group, which took control of Jaypee Infratech Limited (JIL) in 2024 after one of India’s most closely watched real estate insolvency resolutions, said it has received Occupancy Certificates (OCs) for 31 towers comprising 3,135 units and has applied for OCs for another 32 towers housing 2,854 units.\n
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\n The company said it expects approvals for the pending towers over the next couple of months, enabling further handovers at the township located along the Noida–Greater Noida Expressway.\n
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A long-stalled project under insolvency resolution\n
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\n Jaypee Wish Town became a flashpoint in India’s real estate crisis after construction halted several years ago, leaving more than 20,000 homebuyers uncertain about delivery timelines despite having invested their life savings.\n
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\n The project evolved into one of the largest cases under the Insolvency and Bankruptcy Code (IBC), with homebuyers recognised as financial creditors. Suraksha Group’s takeover of Jaypee Infratech in 2024 marked a turning point, with the new management committing to complete the stalled projects under a court-approved resolution plan.\n\n
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\n The latest construction milestone is being viewed as a gradual but tangible step towards restoring confidence among affected buyers.\n
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Occupancy certificates received for 31 towers\n
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\n According to the company, Occupancy Certificates have been received for 31 towers spread across four residential projects within Wish Town, covering 3,135 units.\n
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\n The Kosmos project leads with 11 towers receiving OCs for 1,078 units. Klassic follows with six towers accounting for 674 units. At Kensington Boulevard Apartments, nine towers comprising 818 units have received approvals, while Kensington Park Apartments and Kensington Park Heights together account for five towers and 565 units.\n\n
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\n With these approvals, eligible homebuyers can now proceed towards possession, registration and handover.\n
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OC applications submitted for additional 2,854 units\n\n
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\n Suraksha Group has also applied for Occupancy Certificates for 32 more towers across Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights and Pebble Court, covering 2,854 units.\n
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\n The company said regulatory approvals for these towers are expected over the next few months, which would further accelerate deliveries under the resolution framework.\n\n
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Construction push despite regulatory headwinds\n
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\n Commenting on the development, Jash Panchamia, Executive Director of Jaypee Infratech Limited, said the company has sustained execution momentum despite recurring regulatory disruptions.\n
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\n “Despite crippling restrictions imposed on construction activities due to GRAP rules during the winter months every year, we remain fully committed to fulfilling our customers’ expectations and are working tirelessly to deliver as per the timeline outlined in the resolution plan,” Panchamia said.\n
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\n “Our dedication is evidenced by the completion of 63 towers, with Occupancy Certificates already received for 31 towers and applications submitted for 32 additional towers. Construction is progressing at full pace for the remaining towers, and we are confident of delivering them in line with the resolution plan,” he added.\n\n
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Focus shifts to handovers and confidence rebuilding\n
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\n Market participants said sustained progress on approvals and handovers will be crucial to rebuilding trust in one of India’s most troubled real estate developments.\n
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\n With nearly 6,000 units now constructed and a pipeline of approvals underway, the gradual resumption of deliveries is expected to bring long-awaited relief to thousands of homebuyers, while also serving as a test case for the effectiveness of the IBC framework in resolving large-scale housing distress.","readDurationInMinutes":"6","author":{"name":"CNBC TV18","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/ecc3d19b-fc52-4a39-881c-5b0936ae723b.jpeg"},"ism":false,"analyticsResponses":[{"measurementId":"383191425","type":"COMSCORE"}],"pointerSummary":["Suraksha Group finished 5,989 Jaypee Wish Town units, aiding 20,000+ stranded buyers.","31 towers got OCs (3,135 units); 32 towers applied (2,854 units), approvals pending.","Progress aims to rebuild trust after insolvency; handovers are now in focus."],"tags":["SurakshaGroup","JaypeeWishTown","RealEstate","Homebuyers","InsolvencyResolution","JaypeeInfratech","IBC","Noida","GreaterNoidaExpressway","OccupancyCertificate","JashPanchamia","RealEstateCrisis","Property","Housing","Kosmos","Klassic","KensingtonBoulevard","KensingtonPark","PebbleCourt"],"consent":true,"redirectionEnabled":false}

Suraksha Group completes nearly 6,000 Jaypee Wish Town homes, relief in sight for 20,000 buyers

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