Noida Authority Directs Suraksha to Resume Jaypee Kosmos Maintenance
Real Estate

Noida Authority Directs Suraksha to Resume Jaypee Kosmos Maintenance

The Noida Authority has instructed Suraksha Realty, which took over Jaypee Infratech Limited (JIL) projects through insolvency proceedings in May 2024, to take responsibility for the maintenance of Jaypee Kosmos in Sector 135. This directive follows the cessation of services by the developer’s subsidiary firm, effective January 1, which halted manpower and financial support for housekeeping and security. 

During a mediation meeting on January 6, the Authority warned Suraksha Realty of legal action if it failed to maintain the project until a completion certificate is issued for the partially finished development. 

In November, Jaiprakash Associates Limited-Facility Management Group (JAL-FMG), which had overseen the society’s maintenance since 2015, notified the apartment owners’ association (AOA) to take over these services. However, the AOA filed a complaint with the Authority, citing its inability to manage the services without access to the bank accounts and funds collected from residents for maintenance. 

Residents also highlighted incomplete towers, unfinished electricity infrastructure, and outstanding water bills. Brijesh Singh, a resident, noted that Suraksha’s claim of the project being nearly complete, with functioning essential infrastructure and an established AOA, was rejected by the Authority. The Additional CEO determined that the project was far from completion, making a handover to the residents’ body legally and practically unfeasible at this stage. 

Suraksha Realty argued that maintenance operations were unprofitable due to the AOA’s reluctance to raise service charges. Meanwhile, the Kosmos AOA submitted the full layout of the Wish Town project, pointing out the lack of green spaces in the condominium. 

Pushkar Singh, another resident, stated that the Noida Authority directed Suraksha to provide a detailed breakdown of common areas, including community spaces, green zones, commercial areas, healthcare facilities, and transport infrastructure, for verification. 

(ET)         

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Noida Authority has instructed Suraksha Realty, which took over Jaypee Infratech Limited (JIL) projects through insolvency proceedings in May 2024, to take responsibility for the maintenance of Jaypee Kosmos in Sector 135. This directive follows the cessation of services by the developer’s subsidiary firm, effective January 1, which halted manpower and financial support for housekeeping and security. During a mediation meeting on January 6, the Authority warned Suraksha Realty of legal action if it failed to maintain the project until a completion certificate is issued for the partially finished development. In November, Jaiprakash Associates Limited-Facility Management Group (JAL-FMG), which had overseen the society’s maintenance since 2015, notified the apartment owners’ association (AOA) to take over these services. However, the AOA filed a complaint with the Authority, citing its inability to manage the services without access to the bank accounts and funds collected from residents for maintenance. Residents also highlighted incomplete towers, unfinished electricity infrastructure, and outstanding water bills. Brijesh Singh, a resident, noted that Suraksha’s claim of the project being nearly complete, with functioning essential infrastructure and an established AOA, was rejected by the Authority. The Additional CEO determined that the project was far from completion, making a handover to the residents’ body legally and practically unfeasible at this stage. Suraksha Realty argued that maintenance operations were unprofitable due to the AOA’s reluctance to raise service charges. Meanwhile, the Kosmos AOA submitted the full layout of the Wish Town project, pointing out the lack of green spaces in the condominium. Pushkar Singh, another resident, stated that the Noida Authority directed Suraksha to provide a detailed breakdown of common areas, including community spaces, green zones, commercial areas, healthcare facilities, and transport infrastructure, for verification. (ET)         

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement