In a significant relief for homebuyers, Suraksha-led Jaypee Infratech has obtained re-validation of RERA registration for seven stalled projects in Delhi-NCR, comprising approximately 10,000 housing units. This development is expected to accelerate construction work and facilitate access to home loans from banks and financial institutions, according to officials from Suraksha Group.
Projects Benefiting from RERA Re-Validation
The seven projects that have received re-validation of their RERA registration are:
- Jaypee Greens Klassic—D
- Jaypee Greens Kosmos—A (Phase II)
- Jaypee Greens Kosmos—C
- Jaypee Greens Kensington Boulevard Apartments
- Jaypee Greens Kasa Isles
- Jaypee Greens Krescent Homes
- Pebble Court
These projects together account for 10,082 housing units in various configurations. According to sources, the delivery of these units is scheduled in a phased manner beginning in December 2025, as per the resolution plan.
A company spokesperson also confirmed that the process of obtaining re-validation for other projects by Jaypee Infratech is underway.
Impact on Homebuyers
Many Jaypee homebuyers have faced challenges in obtaining home loans due to the absence of valid RERA registration. The re-validation of these seven projects’ registrations is expected to offer substantial relief, as buyers will now be able to seek loans more easily.
Jash Panchamia, Executive Director of Jaypee Infratech Limited, stated, “Many Jaypee homebuyers faced challenges obtaining home loans without valid RERA registration. As such, the re-validation of RERA registration of the seven projects is expected to immensely benefit homebuyers.”
Homebuyers’ Concerns
Despite the positive development, homebuyers’ representatives have raised concerns about Suraksha Group’s execution of the project.
Ashish Mohan Gupta, President of the Jaypee Infratech Real Estate Allottees Welfare Society (JREAWS), expressed dissatisfaction, stating, “Suraksha has failed on multiple fronts, including mobilization of the promised ₹3,000 crore fund, deployment of workers, and other necessary measures for construction. It does not seem interested in resuming construction.”
Additionally, Gupta highlighted that two of the seven projects have received RERA extensions only until December 31, 2025, raising doubts about how the limited extension would benefit homebuyers. He welcomed UP-RERA’s directive that 90% of the money collected from allottees be used exclusively for construction, with a provision for cost audits every three months and monthly progress reports.
Background on Suraksha Group’s Takeover of Jaypee Infratech
Mumbai-based Suraksha Group took control of Jaypee Infratech Ltd (JIL) in June 2024, following a six-year-long legal battle. The takeover was formalized through the constitution of a three-member board, with Sudhir V Valia, promoter of Suraksha Group, being appointed as a non-executive director.
The acquisition was finalized after the National Company Law Appellate Tribunal (NCLAT) upheld Suraksha Group’s bid to acquire JIL on May 24, 2024. The tribunal directed Suraksha to pay an additional ₹1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) for farmers’ compensation.
The insolvency proceedings against JIL began in August 2017, initiated by an IDBI Bank-led consortium. Eventually, on March 7, 2023, the National Company Law Tribunal (NCLT) approved Suraksha Group’s resolution plan.
Future Plans and Investment
Following the takeover, Suraksha Group has started infusing funds and preparing for the construction of stalled housing projects, affecting approximately 20,000 homebuyers. The completion of nearly 160 residential towers across various projects is expected to require an investment of ₹6,500-7,000 crore.
Suraksha Group has assured buyers that construction will commence as per the resolution plan, with deliveries starting in December 2025. The company has committed to ensuring timely execution and transparency in the process.
Conclusion
The re-validation of RERA registration marks a significant step forward in resolving the long-standing crisis faced by Jaypee homebuyers. While this development brings hope, concerns regarding Suraksha Group’s execution remain. The next few months will be critical in determining whether the developer can fulfill its commitments and restore confidence among affected homebuyers.