Mumbai-based developer Suraksha Group, which took control of Jaypee Infratech Limited (JIL) through an insolvency resolution process in 2024, has completed construction of 5,989 housing units at the Jaypee Wish Town township in Noida and has secured occupancy certificates for more than 3,100 homes, the company said on January 12.

In an official statement, Suraksha Group said construction has been completed across 63 residential towers at Jaypee Wish Town in Uttar Pradesh. Of these, 31 towers comprising 3,135 units have already received occupancy certificates.

The developer has also applied for occupancy certificates for 32 additional towers, covering projects such as Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights, and Pebble Court. These towers together account for 2,854 housing units, with approvals expected over the next few months.

As part of its approved resolution plan, Suraksha Group had committed to completing nearly 20,000 stalled homes across multiple residential projects and handing over possession to long-waiting homebuyers.

Commenting on the progress, Jash Panchamia, Executive Director of Jaypee Infratech Limited, said the company remains focused on meeting delivery timelines despite operational challenges.

He noted that construction activities have continued even amid restrictions imposed under GRAP norms during winter months, adding that work is ongoing across the remaining towers and delivery is expected to align with the timelines outlined in the resolution plan.

Jaypee Wish Town is a large integrated township comprising 10 residential projects and 159 towers. The project was launched during 2010-11, with original possession timelines set for 2014-15. However, prolonged legal disputes and financial stress at Jaypee Infratech led to construction being stalled for over a decade.

Suraksha Group assumed control of JIL in June 2024, following an order by the insolvency appellate tribunal, which upheld its acquisition bid. The corporate insolvency process against JIL had been initiated in August 2017 based on a petition filed by an IDBI Bank-led lender consortium.

Earlier, in March 2023, the insolvency tribunal had approved Suraksha Group's resolution plan to acquire Jaypee Infratech.

Under the final resolution plan, Suraksha Group offered lenders a settlement package that included more than 2,500 acres of land along with approximately ₹1,300 crore, proposed through the issuance of non-convertible debentures.

The completion of nearly 6,000 housing units at Jaypee Wish Town marks a significant step forward in resolving one of Delhi-NCR's most long-standing stalled real estate projects. With occupancy certificates already secured for over 3,100 homes and approvals in progress for additional towers, Suraksha Group's progress reflects growing momentum in restoring buyer confidence and delivering on commitments made under the insolvency resolution plan. As construction continues across the remaining towers, the development represents a critical milestone in the broader effort to revive delayed housing projects and provide long-awaited relief to homebuyers.