Jaypee Greens Tanishq Square Jaypee Greens Sports City, Greater Noida

Jaypee Greens Tanishq Square Phase I, located in Mirzapur, was officially launched on January 12, 2015, with an expected completion date of March 31, 2020. The project is registered under RERA No. UPRERAPRJ5432 and has a total area of 1.53 acres.

The Competition Commission of India (CCI) has ordered a probe against Jaypee Greens for alleged violation of competition norms in a housing project in Greater Noida, following a complaint by a buyer who experienced an 8-month delay in allotment after paying 95% of the villa's cost. The CCI found clauses in the allotment letter to be unfair and one-sided, potentially abusing the firm's dominant position.

NDTV reported that Jaypee Group has several projects delayed, including Wish Town, a 1100-acre mixed development project, the 2,500-acre JP Green sports facility, and a 450-acre Jaypee Greens project in Greater Noida. Some projects have been delayed for five years, leading buyers to seek legal recourse.

Jaypee Greens, E-9 Land 1, Greater Noida, a residential project, was registered with the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on July 29, 2017. The project, with ID UPRERAPRJ5014, is promoted by Jaiprakash Associates Limited.

The Supreme Court barred the Jaypee group and its promoters from participating in the fresh bidding process for Jaypee Infratech Ltd (JIL) and directed the National Company Law Tribunal (NCLT), Allahabad, to handle the insolvency proceedings against JIL.

The National Company Law Tribunal (NCLT) approved the Suraksha Group's bid to acquire Jaypee Infratech Ltd (JIL), providing relief to over 20,000 homebuyers. The resolution plan aims to complete stalled housing units across Noida and Greater Noida. The NCLT directed the interim resolution professional to establish an implementation monitoring committee within seven days, including representatives from the Suraksha Group, the insolvency resolution professional, lenders, and homebuyers.

Jaypee Infratech Ltd., through its Implementation and Monitoring Committee (IMC), filed a Comprehensive Counter Affidavit to a Letter Petition dated 13.06.2022 and a Reply dated 11.03.2023 in the matter before the National Green Tribunal. The affidavit includes water analysis test reports, the Environment Clearance dated 30.06.2020, and a Direction dated 15.05.2023 along with Jaypee Infratech Ltd.'s response dated 30.05.2023.

The National Company Law Appellate Tribunal (NCLAT) has directed that disputes between the Yamuna Expressway Industrial Development Authority (YEIDA) and the Suraksha group regarding Jaypee Infratech must be resolved by the second week of April, or it will proceed with further action.

Following Allahabad High Court directives, YEIDA inspected Jaypee Sports City to assess the development status and funds spent by JAL, with a report to be submitted to the court on May 22. The inspection aimed to verify JAL's claims regarding construction progress, road status, civic services, and boundary walls, as JAL had requested the restoration of 1,000 hectares of land and submitted a completion schedule.

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 incomplete housing projects on this land, ensuring their completion under the original terms. The court set timelines for completion, ranging from 12 to 36 months based on the project's completion status, and declared a 'zero period' between Feb 11, 2020, and the judgment date, during which no interest or penalties will be levied.

Jaypee homebuyers protested against the Suraksha Group, alleging failure to resume construction work a year after NCLT approval, with projects like Garden Isles, Orchards, Wishpoint, Sunnyvale Homes, and Tanishq Square still on UPRERA's abeyance list. Buyers have filed an application in the NCLT seeking the constitution of a monitoring committee to ensure timely delivery of units.

The Supreme Court has directed Jaypee Infratech homebuyers to either claim refunds or apply for flat allotments by December 5, with no further extensions to be granted. Suraksha Realty Limited, the company now managing the Jaypee projects, was instructed to make a public announcement regarding the deadline.