Real Estate Pune
Suraksha Group Reaches Major Milestone: 6,000 Homes Completed at Jaypee’s Wish Town
2026-01-12 · Geosquare
Mumbai-based realty firm Suraksha Group, which acquired Jaypee Infratech (JIL) in 2024 through the insolvency process, has announced the completion of construction on nearly 5,989 units across 63 residential towers in Noida’s Wish Town township.
The company has already secured occupancy certificates (OCs) for 31 towers comprising 3,135 units. This significant achievement is a testament to Suraksha Group's commitment to completing the stalled projects and meeting the expectations of homebuyers.
In its final resolution plan, Suraksha Group had committed to completing around 20,000 homes across various stalled residential projects. The company assured homebuyers that it would adhere to the 40-month deadline promised in the approved resolution plan.
Suraksha Group has also applied for OCs for an additional 32 towers of Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights, and Pebble Court. These 32 towers have a total of 2,854 units. The company expects to receive OCs for these towers over the next couple of months.
Commenting on this, Jash Panchamia, Executive Director of JIL, highlighted the challenges faced by the company, including the restrictions imposed on construction activities due to GRAP rules during the winter months. Despite these obstacles, Suraksha remains fully committed to fulfilling customers' expectations and delivering as per the timeline outlined in the resolution plan.
For the remaining towers, construction is progressing at a rapid pace, and the company is confident in delivering these towers according to the resolution plan. Suraksha Group took over JIL following the National Company Law Appellate Tribunal (NCLAT) decision upholding its bid to acquire the company.
The NCLAT also directed Suraksha Group to pay an additional ₹1,334 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) as farmers’ compensation. In its final resolution plan, Suraksha Group offered bankers more than 2,500 acres of land and nearly ₹1,300 crore by way of issuing non-convertible debentures. The plan also proposed to complete all stalled projects over the next four years.
The corporate insolvency resolution process (CIRP) against JIL was initiated in August 2017, following an application by the IDBI Bank-led consortium. Since then, Suraksha Group has been working diligently to revive the stalled projects and bring relief to thousands of homebuyers who had been waiting for their homes for years.
This milestone is a significant step forward in the revival of Jaypee Infratech and a positive development for the real estate sector in Noida. Suraksha Group's commitment to quality and timely delivery is a beacon of hope for homebuyers and a testament to the company's dedication to excellence.