Jaypee Green Wish Town Kasablanca Towers Sector 128, Noida

Jaypee Greens Kasablanca, Noida, officially launched on 13-Aug-2012 and expected to complete by 30-Jun-2021. Registered under RERA No. UPRERAPRJ3879 with total area of 2.87 Acre.

The National Green Tribunal (NGT) restrained builders from using ground water for construction activity.

The NGT ordered stoppage of construction within a 10 km radius of the Okhla Bird Sanctuary.

The NGT banned Noida from issuing any occupation certificates.

Following a National Consumer Disputes Redressal Commission (NCDRC) order asking Jaypee to pay a 12% penalty for delays in the Kalypso project, 498 more homebuyers in Wish Town moved the consumer body seeking higher compensation for delayed possession. The Jaypee Wish Town project, flagged off in 2008, is a 1,200-acre project in Sector 128 comprising 35,000 apartments and 25 societies.

Over 70 homebuyers protested outside Jaypee builders' office in Sector 128, alleging they had paid 90% of the total flat cost but had not received possession. The protesters booked flats in the 19 towers at Jaypee Greens Wish Town in Sector 128.

IDBI Bank petitioned the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Jaypee Infratech for defaulting on loans worth Rs 526 crore. The NCLT appointed Anuj Jain as Interim Resolution Professional (IRP).

The Supreme Court stayed the insolvency proceedings against Jaypee Infratech, providing relief to over 30,000 homebuyers. The court also issued a notice to the company and others on a plea filed by homebuyers who had not received possession of their flats.

Around 2,200 homebuyers of JIL's Wish Town Project issued a legal notice through their lawyers to the IRP of JIL to include in the interim and final resolution plans, a provision for setting aside of Rs. 10,000 crores to complete the projects and to pay compensation for delay to the home-buyers at the rate of 18%.

The National Consumer Disputes Redressal Commission (NCDRC) addressed a complaint filed by 22 members of the Jaypee Kasablanca Buyers Welfare Association against Jaiprakash Associates Ltd, regarding apartments booked in the 'Kasablanca' project within Jaypee Wish Town, Sector 128 Noida, citing deficiency in service and unfair trade practice. The NCDRC directed Jaiprakash Associates Ltd to refund the amounts deposited by the 22 complainants with 9% interest from the respective dates of deposit until repayment, and to pay litigation costs of Rs. 25,000 to each complainant, with compliance required within three months.

The Gautam Budh Nagar district sessions court issued summons to officials of Jaiprakash Associates Limited (JAL) and Jaypee Infratech Limited (JIL), including Manoj Gaur, Sachin Gaur, and Sameer Gaur, in a cheating case. The order came in response to a plea filed by a group of 30 homebuyers who alleged they were cheated because the promoters failed to deliver flats in the Jaypee Wish Town project in Sector 129 of Noida.

The National Company Law Tribunal (NCLT) approved Suraksha's bid to acquire the debt-ridden Jaypee Infratech Ltd (JIL).

The Jaypee Infratech case highlighted the need for robust protections for homebuyers in the insolvency resolution process and exposed gaps in existing legislation. The case has set significant precedents for future insolvency cases, particularly in the real estate sector.

The National Company Law Appellate Tribunal (NCLAT) upheld the NCLT order approving Suraksha Realty's resolution plan to acquire Jaypee Infratech, with a modification requiring Suraksha to pay an additional Rs 1,334 crore as farmers' compensation.

Suraksha Group took over the debt-ridden Jaypee Infratech by constituting a three-member board and will infuse Rs 125 crore equity fund to start construction of stalled housing projects across Delhi-NCR. The takeover follows the NCLAT decision on May 24, upholding Suraksha Realty's bid to acquire Jaypee Infratech while directing it to pay an additional Rs 1,334 crore as farmers' compensation.

Homebuyers of Jaypee Infratech Limited (JIL) staged a protest against the Suraksha Group, accusing the realty firm of failing to resume construction work even a year after the National Company Law Tribunal (NCLT) cleared its resolution plan. The protesters claimed that key contractual obligations of the resolution plan have been violated, including the failure to secure a Rs 3,000-crore funding facility within 90 days of the takeover.

A local court ordered a 100-metre protest-free zone around Jaypee Infratech's headquarters in Sector 128, prompting reactions from homebuyers who claimed they could no longer voice their grievances at the company's doorstep. The dispute revolves around Jaypee's Wish Town project, launched in 2010-11 with deliveries promised by 2014-15, with more than 17,000 buyers still waiting for their homes.

The Supreme Court issued an ultimatum to Jaypee Infratech homebuyers to either claim their refunds or apply for flat allotments by December 5. The court instructed Suraksha Realty to make a public announcement informing all affected homebuyers of the cut-off date.