Mumbai-based real estate firm Suraksha Group, which took over Jaypee Infratech Limited (JIL) through an insolvency process in 2024, said on January 12 that it has completed construction of 5,989 housing units across multiple projects at Jaypee Wish Town in Noida and secured occupancy certificates for more than 3,100 units.

In a statement, the company said construction has been completed across 63 towers within the JIL Wish Town township in Uttar Pradesh. Occupancy Certificates (OCs) have already been received for 31 towers, covering 3,135 units.

Suraksha Group has also applied for OCs for an additional 32 towers comprising 2,854 units. These towers are spread across projects including Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights and Pebble Court. The company said it expects to receive the remaining certificates over the next couple of months.

Under its final resolution plan, Suraksha Group had committed to completing around 20,000 homes across various stalled residential projects and handing over possession to distressed homebuyers.

Jash Panchamia, executive director at Jaypee Infratech Limited, said construction activity has continued despite restrictions imposed during winter months under GRAP norms. He added that the completion of 63 towers and the progress on the remaining structures reflects the company’s commitment to delivering homes in line with the timelines outlined in the resolution plan.

Jaypee Wish Town is an integrated township comprising 10 residential projects and 159 towers. Launched in 2010–11, the homes were originally scheduled for delivery by 2014–15. However, prolonged litigation and financial stress at Jaypee Infratech led to construction being stalled for more than a decade.

Suraksha Group assumed control of JIL in June 2024 following a ruling by the National Company Law Appellate Tribunal, which upheld its acquisition bid. The corporate insolvency resolution process against JIL had begun in August 2017 on an application filed by an IDBI Bank-led consortium. Earlier, in March 2023, the National Company Law Tribunal approved Suraksha Group’s bid.

As part of its final resolution plan, Suraksha Group offered lenders more than 2,500 acres of land along with Rs 13 billion through the issuance of non-convertible debentures.