After years of stalled construction and uncertainty, relief may finally be in sight for thousands of Jaypee homebuyers in Noida and Greater Noida.

Suraksha Group, which took over the debt-laden developer’s unfinished projects, is preparing to seek occupation certificates for 40 residential towers this fiscal year — a move that could hand over long-awaited keys to nearly 4,000 families and mark a turning point in one of India’s most high-profile real estate insolvency cases.

This development is a major relief and a testament to the ongoing efforts to complete these long-pending projects.

This news is a major milestone for the Indian real estate sector, especially for property developers, legal experts, and real estate consultants who have been closely watching the Jaypee case.

The successful revival of a project of this magnitude, which involves approximately 20,000 homes in total, sets a crucial precedent.

It demonstrates that with a well-structured resolution plan and significant investment, even the most complex stalled projects can be brought back to life, restoring buyer confidence and providing a path forward for similar situations across the country.

Suraksha Group, a Mumbai-based conglomerate, has committed to investing around ₹5,500 crore to complete the remaining homes.

The company has already delivered nearly 2,000 units in the previous fiscal year and is accelerating its efforts. According to Jash Panchamia, an executive director at Jaypee Infratech, the company is on track to complete the project within the stipulated timeline outlined in the resolution plan.

The group has already invested ₹400 crore in FY25 and plans to invest an additional ₹2,500 crore in the current financial year. They are also expecting to recover ₹1,200 crore from buyers’ dues and generate another ₹400-500 crore from the Yamuna expressway toll collection.

To speed up the process, Suraksha has re-engaged many of the original contractors who worked with the previous developer. Currently, around 6,000 laborers are deployed across various sites to ensure timely completion.

While the announcement is positive, the journey isn’t without its challenges. The Yamuna Expressway Industrial Development Authority (YEIDA) has issued a notice to Suraksha Realty following complaints from some homebuyers about potential delays. However, the company maintains that construction is proceeding at a swift pace.

The Real Estate Regulatory Authority (RERA) continues to play a vital role in monitoring the project’s progress. With RERA approval secured for most of the projects, the company is also preparing to sell the remaining 1,100 unsold units, which will help generate additional funds for construction.