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.

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?