What is the current status of Jaypee Infratech's residential towers?

Jaypee Infratech has completed 122 out of 250 residential towers, with Occupancy Certificate applications filed for 34.

Who is the new owner of Jaypee Infratech Limited?

Jaypee Infratech Limited is now owned by Lakshadweep Investment & Finance Limited, following judicial approvals in May 2024.

How are funds being used by Jaypee Infratech?

All funds collected from homebuyers are maintained in RERA-compliant accounts and are exclusively used for construction, statutory approvals, and employee expenses.

Home / Business and Economy / Jaypee Infratech Delivers Homes Amidst New Ownership

Jaypee Infratech Delivers Homes Amidst New Ownership

12 Feb

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Summary

122 of 250 residential towers are completed by Jaypee Infratech.
New ownership by Lakshadweep Investment & Finance began in May 2024.
Funds collected from homebuyers are strictly used for project completion.

Jaypee Infratech Delivers Homes Amidst New Ownership

Jaypee Infratech Limited (JIL), now under Lakshadweep Investment & Finance Limited since May 2024, is making significant strides in completing stalled housing projects. The company reported that 122 of its 250 residential towers are finished, with Occupancy Certificate applications submitted for 34 completed structures.

Homebuyers were informed during a recent town-hall meeting about the accelerated construction pace and planned handover timelines. JIL assured that all funds collected from buyers are maintained in separate RERA-compliant accounts and are strictly utilized for construction, statutory approvals, and employee expenses.

Any minor delivery delays have been attributed to the Graded Response Action Plan (GRAP) in the Delhi-NCR region, which temporarily halts construction during periods of high air pollution. The company is confident that the remaining 94 towers will be completed within the resolution plan's stipulated timelines.

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