Jaypee Greens Sportsville Sector 25 Yamuna Expressway, Greater Noida

The Greater Noida Authority informed the Allahabad High Court that Jaypee Associates Ltd (JAL) has not carried out any illegal construction in the Jaypee Greens residential project. The Jaypee Greens RWA has been fighting a case against JAL in the Allahabad HC since 2021, alleging that the developer has encroached upon 49 acres of land earmarked for a golf course by deviating from the original layout plan. The RWA claimed the developer promised an 18-hole golf course spread over 193 acres, but commercial and residential projects came up on 49 acres, shrinking the golf course to 144 acres. The Greater Noida Authority stated that the construction by JAL is strictly in accordance with the sanctioned layout plan.

The National Company Law Appellate Tribunal (NCLAT) reserved its order on a plea by YEIDA challenging the farmer compensation component in the Suraksha Group's resolution plan to take over Jaypee Infratech Limited (JIL), which failed to deliver around 20,000 apartments. YEIDA demanded an additional ₹1,570 crore from the assets reconstruction company (ARC) under the enhanced land acquisition rate, in addition to the existing demand of ₹1,689 crore for farmer compensation.

NCLAT upheld Suraksha Realty's bid to acquire Jaypee Infratech but mandated an extra Rs 1,334 crore as farmers' compensation, a move expected to bring relief to over 20,000 homebuyers stuck in various real estate projects. The decision was made to avoid further delay in the implementation of the resolution plan and to take care of the interests of all stakeholders, including homebuyers and YEIDA.

The Allahabad High Court upheld YEIDA's decision to cancel the allotment of 1,000 hectares of special development zone land to Jaiprakash Associates Ltd (JAL) and directed YEIDA to take over all incomplete housing projects on this land parcel. YEIDA is to ensure their completion under the terms that JAL and homebuyers agreed on. JAL launched 12 housing projects here, which have around 4,600 investors, including Jaypee Greens Sportsville.

The UP government has approved the formation of a committee to complete delayed projects of Jaypee Associates Ltd, with YEIDA set to issue a request for proposal (RFP) within 15 days to appoint a developer to oversee and complete the 10 delayed projects. JAL had failed to complete projects such as Sportsville, Country Homes 1 and 2, Krowns, Greencrest Homes, Bougainvilleas, Villa Expanza, Kassia, Kove and Budh Circuit Studios. The committee includes the principal secretary of Industrial Development, chairman of UP-Rera, CEO of Yeida, and a homebuyers' representative.

The Supreme Court has reaffirmed the legal rights of homebuyers and commercial allottees by confirming the filing of corporate insolvency resolution proceedings (CIRP) against Bhasin Infotech and Infrastructure Private Limited and Grand Venezia Commercial Towers Private Limited. The decision supports the NCLT's admission of the insolvency application in December 2023, which was later upheld by the NCLAT. The case originated from a 2021 petition by 141 allottees of the Grand Venezia Commercial Tower project in Greater Noida, who alleged delays since 2013, absence of completion certificates, and non-payment of promised returns.