YEIDA Steps In to Revive 12 Stalled Jaypee Projects, Bringing Relief to Over 8,000 Homebuyers

Thousands of homebuyers who invested in the dream of owning a home along the Yamuna Expressway have been left in limbo for years, following delays and non-delivery by Jaiprakash Associates Limited (JAL). However, the Yamuna Expressway Industrial Development Authority (YEIDA) has now stepped in with a decisive plan to revive and complete these long-stalled housing projects.

In a meeting with aggrieved buyers on May 2, YEIDA CEO Arun Vir Singh announced that the authority would fund and oversee the completion of 12 pending residential projects. This intervention comes as a direct outcome of the Allahabad High Court’s directive, which upheld YEIDA’s earlier decision to cancel land allotments made to the Jaypee Group.

Dedicated Online Portal for Affected Buyers

A report published in the Hindustan Times newspaper said, to streamline communication and bring transparency, YEIDA will soon launch a dedicated online portal. This portal is designed to:

• Provide real-time updates on project progress

• Enable submission of payment histories and registration details

• Allow buyers to choose between continuing with the project or requesting a refund

The aim is to minimise physical visits to YEIDA offices and offer homebuyers a centralised and accessible platform for grievance redressal and project-related communication.

Currie & Brown Engaged for Technical Assessment

YEIDA has appointed the consulting firm Currie & Brown to conduct a thorough survey and assess the current state of the 12 incomplete housing projects. The report is expected within 15 days and will serve as the foundation for preparing a request for proposal (RFP) to bring on board a new developer.

The selected developer will work under the Engineering, Procurement, and Construction (EPC) model to ensure the timely delivery of homes.

Court-Backed Authority Over Project Execution

Following a prolonged legal battle, the Allahabad High Court officially transferred control of the projects from JAL to YEIDA. The court upheld YEIDA’s cancellation of the developer’s lease due to non-payment of dues in February 2020. The ruling grants YEIDA full rights over the project land, including the authority to complete construction.

A court-mandated committee has been formed to oversee the process, comprising high-level officials such as:

• Principal Secretary, Industrial Development

• Chairman of UP-RERA or a nominated member

• YEIDA CEO Arun Vir Singh

• Housing department representative

• Authorised representative of the homebuyers

Representation for Homebuyers in Revival Process

To ensure buyer interests are safeguarded, Amarpal, who has been advocating for homebuyers in the National Company Law Tribunal (NCLT), has been appointed as their official representative on the High Court committee. Additionally, a sub-committee of various homebuyer associations will liaise with the authority.

OSD Shailendra Bhatia will serve as the nodal officer, responsible for handling buyer grievances and ensuring smooth coordination across all parties involved.

Read More: Jaiprakash Associates Hits Upper Circuit Amid Insolvency Proceedings: List of 26 Bidders Including Adani, Vedanta, and Patanjali. 

Relief in the Form of ‘Zero Period’ and No Interest Liability

In a significant relief for homebuyers, the High Court declared the period from February 2020 (when JAL’s lease was cancelled) to March 2024 (the date of the judgment) as a ‘zero period’. This means:

• Homebuyers will not have to pay any interest on their outstanding dues for this duration

• Buyers who wish to continue can do so without additional financial burden

This ruling aims to ease the financial distress of over 8,000 affected buyers and reignite stalled dreams of homeownership.

Background: A Project That Promised More Than It Delivered

The origin of the issue dates back to 2008, when YEIDA allotted nearly 1,000 hectares of land under the Special Development Zone (SDZ) to Jaypee International Sports, a subsidiary of JAL, for the development of a sports city. While the world-class Buddh International Circuit was constructed and even hosted a MotoGP race in 2023, many associated residential projects remained incomplete, leaving homebuyers in the lurch.

YEIDA’s renewed involvement signals an effort to rectify the legacy of delays and non-performance that has haunted the project for over a decade.

Conclusion

Alongside completing the residential projects, YEIDA has also confirmed plans to continue with the development of international-standard sports infrastructure in the region, as was initially envisioned.

The combination of judicial support, administrative will, and transparent digital processes provides a structured path forward for thousands who have waited over a decade for their homes.

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