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YEIDA recently issued a formal notice to Suraksha Realty, pressing for answers on four key issues including stalled construction and fund delays in the Jaypee Wish Town project. Homebuyers have raised concerns over multiple lapses from insufficient labour deployment to breach of RERA timelines, deferred amenities, and opaque communication. They've urged YEIDA to enforce a high-level oversight committee and avert a possible social and legal escalation. While Suraksha maintains limited progress through property registrations and occupancy certificates, buyers believe justice demands swift and transparent action.
The Yamuna Expressway Industrial Development Authority (YEIDA) has issued a notice to Suraksha Realty over prolonged delays in completing about 17,000 apartments in the Jaypee Wish Town project, following repeated complaints from homebuyers. The notice highlights 14 specific concerns, from stalled construction and delayed fund infusion to legal and regulatory non-compliance. Advertisement
Homebuyers, organised under the Jaypee Infratech Limited Real Estate Allottees Welfare Society (JREAWS), have argued that Suraksha failed to uphold the resolution plan approved by the National Company Law Tribunal, later upheld by the appellate tribunal. They pointed out a big shortfall in labour; only approximately 5,000 out of the 12,000 promised workers are reportedly on site and that the INR 3,000 crore commitment made for project revival was not deposited within the allotted time.
The group also lamented that key executives have resigned, leaving the project unresponsive; they've faced legal intimidation; communication with the developer is poor; and several projects remain incomplete despite approvals granted years ago. Further, they accused Suraksha of using an ongoing Supreme Court case as a reason to delay disbursing farmers' compensation although there's no stay on the NCLAT's decision to allow such payments. Issues such as deferred amenities, lack of structural audit reports, and suspicions about fund diversion after Enforcement Directorate raids have further eroded trust.
In response, JREAWS has asked YEIDA to set up a monitoring committee that would include homebuyer representatives, developer officials, and authority officials. They also want regular monthly meetings to ensure transparency and adherence to the resolution plan. Their plea is clear: if these issues are not addressed promptly, the ramifications could extend beyond Wish Town affecting another 2,000 flat buyers across projects near the Yamuna Expressway in regions like Mirzapur and Agra.
Suraksha has claimed some progress: they point to 1,149 property registrations and occupancy certificates issued for 22 towers. Yet, homebuyers say this falls far short of the commitments and scale of their expectations.
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