+
Jaiprakash Associates could regain land upon settling Rs 2 billion dues
ECONOMY & POLICY

Jaiprakash Associates could regain land upon settling Rs 2 billion dues

The Yamuna Authority stated that they might consider reinstating a corresponding land parcel off the expressway to Jai Prakash Associates (JAL) if the developer agreed to settle Rs 2 billion dues upfront. It was also mentioned that a letter had been written to the government, urging them to extend the rehabilitation package to the realtor for its 14 stalled residential complexes. This was in alignment with the relief package introduced by the state government in December 2023, based on the recommendations of the Amitabh Kant committee.

Approximately 1,000 hectares were allocated to Jaypee International Sports, a subsidiary of JAL, in 2009-10 under a special development zone (SDZ) scheme in Sector 25 for the development of a Sports City. The Budh International Circuit (BIC), which hosted the MotoGP Bharat?an international bike racing event?in September of the previous year, is a part of this land parcel. Additionally, nearly 9,000 homebuyers in the 14 residential complexes under the SDZ are awaiting the completion of their flats.

In February 2020, YEIDA canceled JAL?s land allotment due to non-payment of dues. While the Authority stated the amount to be Rs 36.21 billion, including land premium, lease rent, and additional farmer compensation, JAL argued that it was significantly lower at Rs 14.83 billion. The case is presently under consideration by the Allahabad High Court. Officials mentioned that JAL has officially requested the Yamuna Authority to reinstate its land. In December 2023, Jaypee International Sports submitted a proposal for settling dues and a resolution plan to complete its stalled residential projects.

During its 79th board meeting on January 29, the Yamuna Authority made the decision to present a conditional restoration plan to the realtor. According to Yamuna Authority CEO Arun Vir Singh, after assessing the proposal, the governing board concluded that Jaypee International Sports Ltd must deposit a lump sum of at least Rs 2 billion, which includes the restoration charges, before a decision on reinstating a proportionate land parcel could be considered. It was also decided that the process of restoring proportionate land parcels would proceed, contingent on JAL clearing its remaining dues in instalments.

The Yamuna Authority stated that they might consider reinstating a corresponding land parcel off the expressway to Jai Prakash Associates (JAL) if the developer agreed to settle Rs 2 billion dues upfront. It was also mentioned that a letter had been written to the government, urging them to extend the rehabilitation package to the realtor for its 14 stalled residential complexes. This was in alignment with the relief package introduced by the state government in December 2023, based on the recommendations of the Amitabh Kant committee. Approximately 1,000 hectares were allocated to Jaypee International Sports, a subsidiary of JAL, in 2009-10 under a special development zone (SDZ) scheme in Sector 25 for the development of a Sports City. The Budh International Circuit (BIC), which hosted the MotoGP Bharat?an international bike racing event?in September of the previous year, is a part of this land parcel. Additionally, nearly 9,000 homebuyers in the 14 residential complexes under the SDZ are awaiting the completion of their flats. In February 2020, YEIDA canceled JAL?s land allotment due to non-payment of dues. While the Authority stated the amount to be Rs 36.21 billion, including land premium, lease rent, and additional farmer compensation, JAL argued that it was significantly lower at Rs 14.83 billion. The case is presently under consideration by the Allahabad High Court. Officials mentioned that JAL has officially requested the Yamuna Authority to reinstate its land. In December 2023, Jaypee International Sports submitted a proposal for settling dues and a resolution plan to complete its stalled residential projects. During its 79th board meeting on January 29, the Yamuna Authority made the decision to present a conditional restoration plan to the realtor. According to Yamuna Authority CEO Arun Vir Singh, after assessing the proposal, the governing board concluded that Jaypee International Sports Ltd must deposit a lump sum of at least Rs 2 billion, which includes the restoration charges, before a decision on reinstating a proportionate land parcel could be considered. It was also decided that the process of restoring proportionate land parcels would proceed, contingent on JAL clearing its remaining dues in instalments.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code