Jaypee Infratech was supposed to build 32,000 homes — it left 20,000 buyers stranded

Jaypee Infratech was an Indian real estate developer founded in 2007, a subsidiary of the Jaiprakash Associates conglomerate. In 2007, it signed an agreement with the Yamuna Expressway Industrial Development Authority to build 32,000 housing units along the 165-kilometre Yamuna Expressway, with 25,000 hectares of allotted land and a 36-year toll collection right for the expressway.

Construction stalled around 2013–2014. Funds were allegedly mismanaged and diverted from the housing projects, leaving over 20,000 homebuyers who had paid for apartments without completed homes or refunds. The parent company Jaiprakash Associates faced creditor claims of ₹57,185 crore. The company was forced to sell assets including cement plants and power projects to service debt.

The National Company Law Tribunal admitted Jaypee Infratech for insolvency. After a lengthy resolution process, Suraksha Group’s acquisition bid was approved in 2023 to complete the stalled projects. The company was declared defunct on 24 May 2024. The parent company Jaiprakash Associates was acquired by Adani Group in a ₹14,535 crore resolution plan approved by NCLT in March 2026.