Investment of INR 6,000 crore by Jaypee Infratech to complete building 20,000 homes in 3 years

Last year in June, the Mumbai-based conglomerate, Suraksha Group, took complete control of Jaypee Infratech Ltd (JIL). Since then, they have made some impactful changes, including the creation of a three-person board. Sudhir V Valia, the actual promoter of Suraksha Group, was made the non-executive director on the Jaypee Infratech Ltd. board.

Previously, Suraksha Group-controlled Jaypee Infratech said that it will be investing a sum of INR 6,000 crore over the next 3 years for the purpose of completion of various stalled housing projects. These housing projects, altogether, comprise about 20,000 home units. Also, in the press conference that took place in Noida, the CEO of JIL, Abhijit Gohil, assured homebuyers that JIL will stick to the pledged deadline as per the authorised resolution plan.

This project consists of 16,500 units in 159 towers in Noida’s Wish Town township (UP). Major construction is needed in 97 towers, while the remaining 62 of them only need some finishing work. Gohil stated that JIL has acquired occupation certificates (OCs) for 22 towers, and their handover is in progress. Also, OCs for 12 other towers have been applied, while OCs for 18 more towers will be made in June.

Source: Economic Times