Jaiprakash ties up with CRC, Gulshan Homz for luxury flats in Noida

24 Aug 2021 CW Team

Jaiprakash Associates Ltd, a crisis-hit construction company, has announced a partnership with Gulshan Homz and CRC to build 619 luxury apartments in Noida, Uttar Pradesh.

To meet its commitment to clients, JP Associates said it has entered into several cooperative working arrangements with real estate developers Gulshan Homz group of enterprises and CRC to complete and deliver over 619 high-end Golf residences in Jaypee Greens Wish Town in Noida.

In the Boomerang Residencies project, Jaiprakash Associates and Gulshan will collaborate to build 113 apartments, and in the Kristal Court project, 305 flats.

According to the statement, these apartments should be finished in three to 3.5 years.

The Kasablana project is being developed in conjunction with the CRC group and consists of three towers with 201 flats, cites Jaiprakash Associates.

The flagship company of the Jaypee group, Jaiprakash Associates, is involved in engineering and construction, power, hospitality, and real estate.

Jaypee Infratech, a Jaypee group company, is facing insolvency proceedings.

Suraksha Group, based in Mumbai, recently won a bid to buy Jaypee Infratech and complete over 20,000 unfinished flats.

The National Company Law Tribunal (NCLT) is yet to approve the proposal.

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