Homebuyers Clash with Developers Over Delayed Jaypee Infratech Housing Projects

Homebuyers protested on Thursday against the delayed construction of units under Jaypee Infratech's housing projects in Noida. Despite an insolvency resolution nearly a year ago, the construction progress remains slow under the Suraksha Group. The homebuyers are seeking a quicker resolution and have scheduled follow-up meetings.

On Thursday, hundreds of aggrieved homebuyers gathered in Noida to protest against the extended delays in the delivery of units under Jaypee Infratech's housing schemes. Despite the conclusion of an insolvency resolution process last year, construction has been sluggish.

The protest became heated, with buyers breaching barricades near the company's office in Sector 128, Noida, prompting a police presence to maintain order. The demonstrations highlight ongoing tensions between homebuyers and management, with the projects' completion dates having been pushed forward multiple times.

The Suraksha Group, which acquired debt-laden Jaypee Infratech in June 2022, had promised to complete around 20,000 houses by 2026. However, buyers, led by the JIL Real Estate Allottees Welfare Society, expressed dissatisfaction with progress, alleging insufficient manpower and a lack of commitment from Suraksha. Both parties have agreed to review the projects' status monthly.

(With inputs from agencies.)