Jaypee Infratech Limited (JIL) is accelerating construction and flat deliveries under its court-approved resolution plan, aiming to complete long-stalled housing projects.
The company recently conducted a town-hall meeting with homebuyers to share updates on construction progress, Occupancy Certificate (OC) applications, and handover timelines.
This follows JIL’s takeover by Lakshadweep Investment & Finance Limited in May 2024 after insolvency proceedings concluded. Since the new management assumed control, construction activity has reportedly gained pace. Of the total 250 residential towers, 122 towers have been completed.
Key Highlights
Applications for Occupancy Certificates have been filed for 34 completed towers, with approvals expected soon. Flat handovers are being executed in line with commitments under the resolution plan.
In instances of marginal delays, the company cited GRAP (Graded Response Action Plan) restrictions, which temporarily curb construction during severe air pollution in Delhi-NCR.
On fund utilization, JIL informed buyers that all collections are maintained in separate, RERA-compliant bank accounts and are being used strictly for construction, statutory approvals, and employee-related expenses.
Addressing reports of financial transactions involving group companies, management stated that any earlier loans have been fully repaid with interest and no dues remain outstanding. The remaining 94 towers are expected to be completed within the timelines set in the resolution plan.
Also Read: Jaypee Infratech infuses Rs. 6,000 Crore - Aims to Finish 20,000 Stalled Homes
JIL reiterated its commitment to implementing the approved plan and indicated it may pursue legal remedies against incorrect information to safeguard homebuyers and stakeholders.
We use cookies to ensure you get the best experience on our website. Read more...
Copyright © 2026 HomesIndiaMagazine. All Rights Reserved.
