Jaypee aka Suraksha Wish Town is one of the prominent locality on Noida- Greater Noida Expressway. township is spread across 2 sectors (Sec 128 & Sec 134) and its huge in size, it holds a very big size golf course, Luxury Villas, Luxury apartments, Budgeted apartments, Plots, Commercials, Clubs, Collages ( Basic as well Engineering Collage) and good roads, big size parks and ample greenery to cool temperature. township when launched was having options to cater all segments like High net worth income groups to Mid income groups to budgeted income groups. So in simple words we can say a a place design to fit for all.

Strategic Location bang on mid of expressway and near to Delhi, Noida and well connected with DND flyway and Yamuna Expressway and in close proximity of IT HUBS, which were making the place idle for IT professional who were working here on Noida expressway, Noida or Gurgaon or NRI’s. Please note good percentage of NRI’s specially in IT Industry and people from Gulf had invested good amount of money into Jaypee Wish Town projects after their launch after 2008-09. Jaypee wish town was sold just like that and people were in rush as they may loose once in a life time opportunity. apartments were booked just like you go and buy vegetables from the weekly market. people were jumping on each other as everyone was in a rush that their form should be submitted first.

Jaypee wish town received an overwhelming response across the segment and Jaypee sold them at a premium price, they were not an affordable housing ( Greater Noida West). Work was also started in full swing, i visited many a times Jaypee wish Town when the construction work was in full swing. Once you enter the society you will find good tall Army retired security guards to ensure robust safety setup and and the area was just looking like you are roaming in a area which is going to be one of the best place just like Sahar’s Amby Valley in Pune. you get a very positive and plush feeling while roaming the wish town, every where you see construction material, heavy machines, dumpers, trucks and so on… no one thought of the dream which was taking shape is going to haunt them for a decade.

After the Economic slow down, many companies started facing heat of the slow down and Jaypee was not an exception to this. Jaypee was also blamed to have diverted funds of real estate projects to other businesses like Yamuna Expressway, Formula 1 stadium etc. My personal view is that Jaypee had a very good vision and thought to built world class townships and other projects which were one of the first in country. but these investment didn’t turned to be profitable for them and the huge money which got investment into these projects became a liability and turned into huge loss for Jaypee, at the same overall economical conditions also went against the Jaypee and other Real estate developers like Unitech, Amrapali, Supertech and many more.

Due to economic slow down and Government tighting controls on financing caused a major dent on the overall revival plans for Jaypee. after Modi Goverment’s NoteBandi closed all kind of doors for such developers, who had huge landbank and floated many projects one after another without considering the fact of how these projects will be delivered, another reason for the failure of the real estate projects was developers greed, no doubt at all, when everything was good, developers, their staff, brokers, channel partners all were in luxury, there was no financial management, everything was flowing with the market sentiment only.

Lets come back to the Jaypee again, So after the slow down and financial mismanagement Jaypee was not able to pay the dues to banks and they went to NCLT and insolvency process started it took long time to conclude, even Honorable Supreme court had to grill the case thoroughly before giving the judgement. now its all history. Officially Surakasha Group has formally took over the projects of Jaypee and are now custodian and executing it to deliver the units to buyers across various projects of Jaypee.

So After a decade fight in court, we now have a clearly defined path for Jaypee projects. Suraksha group is also infusing money to resume the work in full fledged. they have reached to an agreement with respective authorities for their dues.

The current status of the legal issues associated with Jaypee Wisht Town is as follows:

The appellate tribunal in March 2024 had said that if Suraksha and YEIDA will not settle their issues by the next date of hearing – that is on April 18, 2024 – then the plea will be heard on merit and a judgment passed. As no settlement was reached, the hearing commenced on merit on April 18. During the arguments, Suraksha offered an unconditional offer to deposit ₹ 1,216 crore with Yeida over a period of four years. However, the authority rejected that offer. The next hearing date is scheduled on May 2, when the NCLAT is likely to give its final order. now in June, YEIDA and Suraksha group has reached to an agreement on payment and dues.

After Suraksha Group took over Jaypee Wishtown, several significant changes were implemented:

• Investment: Suraksha Group has committed to infuse INR 3,000 crore to restart construction on the stalled Jaypee Wish Town project.
• Construction: The construction of the stalled projects is set to resume, benefiting nearly 20,000 homebuyers and 10,000 farmers.
• Management: A new board of directors was appointed, and the resignations of the company’s former managing director, Manoj Gaur, along with other senior officials of JIL, were accepted1. Under the new management, Aalok Champak Dave has been appointed managing and executive director for the next five years.
• Timeline: Suraksha Group has committed to completing and delivering homes to buyers within 3 to 3.5 years in a phased manner.
• Payment to YEIDA: The NCLAT has directed Suraksha Group to pay Rs 1,335 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) for farmers’ compensation within four years.

Future Roadmap for Jaypee (Suraksha) Wish Town.

To understand the future of Jaypee, Please look at the price trends of Jaypee Wish Town projects.

• In May 2023, a 1863 sq.ft apartment was sold for ₹1.05 Cr.
• In June 2023, the price for a similar 1863 sq.ft apartment dropped slightly to ₹91.00 L.
• By October 2023, the price for a larger 2226 sq.ft apartment was ₹1.00 Cr.
• The average transaction rates for properties in Jaypee Wishtown over the last three years have been around ₹3821/sq.ft.
• There has been a 35.95% appreciation in the average price per sq.ft for Jaypee Wish Town Klassic in the last year.

The current property prices in Jaypee Wish Town, Noida are as follows:

1. A 3 BHK flat with a carpet area of 1200 sqft is available for sale at a price of ₹1.18 Cr.
2. Another 3 BHK flat with a carpet area of 1535 sqft is available for sale at a price of ₹1.25 Cr.
3. A 2 BHK flat with a carpet area of 875 sqft is available for sale at a price of ₹80 Lac.
4. Another 3 BHK flat with a carpet area of 1350 sqft is available for sale at a price of ₹1.20 Cr.

Renting in Jaypee Wishtown, Noida offers a variety of options. Here are some examples:

• A 3 BHK flat in Jaypee Wish Town Klassic, Sector 129, Noida Express Way, Noida is available for rent at INR 24,999 per month. The flat is semi-furnished and has a carpet area of 1450 sqft.
• A 4 BHK flat in the same area is available for rent at INR 38,000 per month. The flat is semi-furnished and has a carpet area of 1849 sqft
• A 3 BHK flat in the same area is available for rent at INR 37,000 per month. The flat is furnished and has a carpet area of 1400 sqft.

Here are some examples of rental properties near Jaypee Wishtown, Noida for comparison:

• Jaypee Green Kosmos Phase 2, Sector 134, Noida: A 3 BHK apartment is available for rent at INR 35,000 per month. The apartment is furnished and has a carpet area of 1200 sqft.
• Jaypee Green Kosmos Phase 2, Sector 134, Noida: A 1 BHK apartment is available for rent at INR 12,000 per month. The apartment is furnished and has a super area of 650 sqft.
• Jaypee Kosmos, Sector 134, Noida: A 3 BHK apartment is available for rent at INR 32,000 per month. The apartment is semi-furnished.

So now you could understand, where Jaypee is going now, it has been a favorite spot for many who wants to buy on Noida expressway and option within the budget, Jaypee Wish Town is one such place to go for. it provides good location, surrounding, proximity and at the heart of new development happening on Noida Expressway.