Jaypee homebuyers get March 2028 completion target; Suraksha to pump in Rs 3,000 crore

As per the latest business developments, Suraksha Group, which acquired Jaypee Infratech Limited (JIL) in 2024 through NCTL, stated that it would complete homes for all 20,000 homebuyers of Jaypee project by March 2028 and plans to invest Rs 3,000 more to finish the project.

“Our target is to complete all the flats in the project by March 2028. That stated, if the NGT and concerned authorities ban construction activities during winters due to pollution then our deadline will be to finish it by September 2028,” promoter Suraksha Group, Sudhir Valia stated.

He stated that out of 159 pending towers of the projects, the firm has successfully completed construction of 84 towers comprising 7,913 dwelling units.

“So far we have invested around Rs 1,500-2,000 crore to construct and deliver nearly 8,000 apartments and around Rs 3,000 crore will further be required to complete the construction of all the remaining apartments,” he stated in a press conference.

Valia further noted that the investment would come from internal accruals as homebuyers have to pay the firm Rs 1,800 crore to Rs 2,000 crore as dues against their apartments. Around Rs 1,000 crore would be arranged from the income from toll operation of Yamuna Expressway, which connects Greater Noida with Agra.

All remaining project deliveries are progressing in line with stipulated timelines, with the interests of existing homebuyers continuing to stay the firm’s foremost priority, he stated.

He stated that the firm has sent the letter of offer of possession to 7,913 homebuyers against completed flats but nearly 3,000 homebuyers have not come forward to take possession.

Jash Panchamia, Executive Director, Jaypee Infratech Limited, stated that more than 50 percent of construction completed and the remaining deliveries progressing as per the stipulated timelines.

Suraksha additionally expansion of its development pipeline across Noida and the Yamuna Expressway region, comprising the relaunch of unsold inventory and fresh developments.

Fresh launches will include premium, luxury and ultra-luxury residential developments, along with plotted residential and industrial developments. These are scheduled across locations including Wishtown, Sector 151 and the Yamuna Expressway region.

Under the expansion plan, three new integrated townships will be developed. These townships include   Suraksha – City of the Ganges (approximately 256 acres), Suraksha Enterprise City (approximately 85 acres) and Suraksha Yamuna Smart City (approximately 124 acres), the firm stated.

Valia stated that the firm has unsold inventory of worth Rs 2,500 crore (approximately 2,000 flats) and these would be sold through relaunch.