Jaypee Wish Town Klassic Sector 134, Noida

Over 150 buyers of Jaypee Wishtown apartments gathered for a protest at the builder's office in Sector 128, Noida, seeking clarity on the status of the 35,000 Wish Town apartments and funding for project completion. Jaypee Wishtown MD, Manoj Gaur, committed to providing a clear picture within 15 days. Flagged off in 2008, Jaypee Wish Town is a 1,200-acre project in Sector 128, comprising 35,000 apartments and 25 different societies, with only 5,000 having occupancy certificates.

Jaypee Infratech will upload a progress report of Wish Town by July-end, addressing buyers' concerns about completing nearly 27,000 delayed flats by 2020. The company promised to start construction in phases after police registered a consolidated FIR on April 15 following complaints from Wish Town investors. Wish Town includes 25 condominiums with 32,000 flats and 3,000 plots, with only 5,500 flats delivered so far.

Homebuyers of the Jaypee Wish Town project protested at the company's office, demanding their money back after the National Company Law Tribunal admitted the insolvency petition filed by IDBI Bank against Jaypee Infratech. Over 400 people protested, fearing they would lose their money and not get possession of their flats if the company was declared insolvent.

The Supreme Court stated that homebuyers of the Jaypee Wish Town project must receive their flats or a refund. The court was hearing a plea by over 40 homebuyers challenging provisions of the Insolvency and Bankruptcy Code, 2016. The apex court revived insolvency proceedings against Jaypee Infratech Ltd and handed management control to the IRP.

The Supreme Court reserved its judgment in the Jaypee Wish Town case on October 8, 2020, leaving 17,000 buyers awaiting a resolution. NBCC challenged the insolvency resolution at the NCLAT over financial obligations. Homebuyers claim no construction has occurred for months, despite NBCC winning bids to complete 168 towers and 17,756 flats.

Homebuyers of Jaypee's Wish Town project are in limbo as construction is yet to begin, even after the NCLT approved Suraksha Realty Limited's resolution plan in March 2023. All 16 projects, with around 250 towers, are in limbo. The Income Tax department, JAL, and YEIDA challenged the order in the NCLAT.

Homebuyers who booked flats at Jaypee Greens Wish Town in Noida, Sector 128, have faced delays in possession and litigation for over a decade. Insolvency proceedings were initiated against Jaiprakash Infratech Limited (JIL) in 2017, leaving over 17000 homebuyers across 19 JIL projects stuck in litigation.

The National Company Law Appellate Tribunal (NCLAT) has allowed Suraksha Group to start construction at Jaypee Wish Town, where more than 20,000 homebuyers have been waiting for their flats for over a decade. The tribunal directed Suraksha and the Yamuna Expressway Authority (YXPA) to settle their differences. Suraksha prepared a resolution plan to start construction at Wish Town, but a decision is awaited from the UP government.

The National Company Law Appellate Tribunal (NCLAT) is likely to decide on May 2 on the Yamuna Expressway Industrial Development Authority (Yeida)'s plea regarding the take over of debt-ridden realty company Jaypee Infratech Limited (JIL) by Mumbai based Suraksha Realty Limited and Lakshdeep Investments. At least 20,000 homebuyers of Jaypee Wish Town projects in Noida and Greater Noida have been waiting nearly a decade for their homes. The National Company Law Tribunal (NCLT) had approved the takeover on March 7, 2023.

NCLAT upheld Suraksha Realty's bid to acquire debt-ridden Jaypee Infratech but asked it to pay an additional Rs 1,334 crore as farmers' compensation. The ruling will pave the way for the completion of more than 20,000 housing units in various stalled projects of JIL spread across Noida and Greater Noida. The corporate Insolvency Resolution Process (CIRP) against Jaypee Infratech Ltd (JIL) was started in August 2017.

Suraksha Group is set to complete and deliver Jaypee Infratech's stalled home projects within 3 to 3.5 years, investing 3,000 cr rupees. The group will also compensate those opting for refunds and pay 1,335 cr rupees to the Yamuna Expressway Industrial Development Authority for farmers' compensation. Construction is already underway in four projects, bringing relief to more than 6,000 home buyers.

Suraksha Group announced it would deliver around 4,000 flats in the current fiscal year and construction had accelerated, with around 6,500 labourers currently engaged at the sites. Suraksha plans to apply for occupation certificates (OCs) for 40 towers, comprising around 4,000 units, by the end of this year. Jaypee Infratech has secured OCs for 22 towers covering 2,301 flats, and possession offers have been made for 1,981 units across 19 towers in FY 2024–25.

Suraksha Group has pushed the possession deadline for residential units in Jaypee Wish Town from June 2026 to Dec 2028. The company claimed over 3,200 labourers are working on multiple towers. According to the timeline, Pebble Court will be completed by June 2026, followed by Kensington Park by Sept 2026, Kosmos by Oct 2026, Klassic by Nov 2026, and other projects subsequently, with Garden Isles and Krescent Homes by Dec 2028.

Homebuyers of Jaypee Infratech Limited (JIL) protested against the Suraksha Group, alleging failure to resume construction work even a year after the NCLT cleared its resolution plan. The protest ended after the Suraksha management assured buyers of monthly updates and resumption of work. Buyers have also filed an application in the NCLT seeking the constitution of a monitoring committee to oversee the execution of the plan and ensure timely delivery of units, with a hearing scheduled on April 15, 2025.

Around 100 homebuyers of Jaypee's Wish Town project protested against the delay in delivery of their homes, even after the NCLT approved the resolution plan in March 2023. Construction has remained stalled. The affected homebuyers demanded that the construction be renewed.

Homebuyers of Jaypee Wish Town protested against Suraksha, the resolution applicant that took over Jaypee Infratech Ltd (JIL) last May, due to delays in delivery. Around 17,000 buyers are waiting for their flats in the residential project, which was launched in 2010-11 with deliveries promised in 2014-15. Homebuyers shouted slogans and breached barricades near Suraksha's office in Sector 128, demanding a meeting with the senior management and sought timelines.

The Supreme Court has issued an ultimatum to Jaypee Infratech homebuyers to either claim their refunds or apply for flat allotments by Dec 5. The court's order asked all remaining claimants to approach Suraksha Realty Limited, and made it clear that no further extensions would be granted. The legal controversy began in 2017, when Jaypee Infratech entered insolvency, leaving more than 20,000 homebuyers stranded across projects in Noida, Agra, and Aligarh.

Suraksha Group has completed the construction of approximately 5989 flats in Jaypee Wish Town in Noida. The company has obtained occupancy certificates for 31 towers, including 3135 units, and the application process is underway for 2854 flats in the remaining 32 towers. The project was previously stalled under Jaypee Infratech, causing delays for homebuyers.