The Suraksha Group will invest Rs 55 billion to complete approximately 20,000 pending homes under Jaypee Infratech, aiming to deliver all units by 2027. According to Jaypee Infratech CEO Abhijit Gohil, construction has already commenced, and the company is committed to ensuring timely delivery. 

As reported by The Economic Times, the project covers 159 residential towers, with occupancy certificates obtained for 22 towers and applications filed for 12 more. By early June, applications for an additional 18 towers will be submitted. The company plans to deliver 62 towers by the end of this year, with the remaining 97 scheduled for completion over the next 40 months. 

Despite early setbacks, including GRAP orders, most construction contracts have been awarded to earlier JAL contractors. The company has secured Real Estate Regulatory Authority (RERA) approvals for most projects and plans to soon launch sales for 1,100 unsold units. 

Of the Rs 55 billion required, Suraksha has secured a Rs 30 billion credit line and invested Rs 1.25 billion in equity. The group plans to sell 2.4 million sq ft of property to raise additional funds, having already raised Rs 6 billion through hospital sales. It also receives Rs 5 billion annually from Yamuna Expressway toll collections and expects Rs 12 billion from existing homebuyers. 

The National Company Law Appellate Tribunal (NCLAT) approved Suraksha’s resolution plan on May 24, 2024, requiring the company to compensate the Yamuna Expressway Industrial Development Authority (YEIDA) with Rs 13.35 billion over four years. Homebuyers at Jaypee Wishtown, Noida, have faced over a decade-long delay, paying nearly double their initial costs due to rent and interest burdens. 

Jaypee Infratech, a pioneer in real estate and infrastructure, was among the first 12 companies referred to the National Company Law Tribunal (NCLT) in August 2017 under the Insolvency and Bankruptcy Code (IBC).