Tag Archives: Jaypee Greens Sports City

Story Behind Jaypee’s Failure

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Shri. Jaiprakash Gaur, the founder of Jaypee Group, had a single-minded focus after graduating from IIT Roorkee with a diploma in civil engineering. He decided to contribute to nation-building by branching off as a civil contractor in 1958 and founded Jaypee Group. The Group’s business interests include engineering and construction, cement, power, real estate, expressways, fertilizer, hospitality, healthcare, sports, and information technology. This article covers the story behind Jaypee’s failure. How did Jaypee start, what all the good things it did, what exactly went wrong, and what is the future now? One thing is for sure, if everything would have gone well, Jaypee would have completely changed the situation in Noida. It could have become the DLF of Noida. But could not. More than 20000 buyers are still struggling to get the homes of their dreams. Let us look at the story behind the making of Jaypee.

Work done by Jaypee:

Jaypee Infratech was founded in 2007 and it is the part of the Jaypee Group. So, let’s look at some of the successful works done by Jaypee Infratech.

1. Yamuna Expressway project:

The Group entered into the construction of expressways with a 165 km access controlled 6 lane super expressway along the Yamuna River connecting Greater Noida and Agra. You would know how well-developed the Yamuna expressway is if you have been to it. It has become a big boon for Noida. Jaypee has also built the Zirakpur-Parwanoo Himalayan Expressway. 

2. Jaypee’s Hotels and Resorts:

In New Delhi, Uttar Pradesh, and Uttarakhand, the hospitality division of the Group owns and manages five hotels. 

3. Jaypee’s Hospital:

The Jaypee Hospital is well-developed and offers excellent health facilities. The hospital is now commissioning 525 beds in the first phase of its intended 1200-bedded tertiary care multi-specialty complex.

4. Jaypee’s F1 Sports:

The Group hosted the inaugural Formula One Grand Prix of India on October 30, 2011. The track is anticipated to hold more top-tier international racing competitions in addition to F1. Though this was unsuccessful as F1 races did not succeed in India. 

5. Jaypee’s Real Estate:

The first real estate project of the group, Jaypee Greens Greater Noida, covers 452 acres. This distinguished municipality includes an 18-hole Greg Norman golf course, upscale homes, shopping centers, etc. 

India’s First Wish Town, a premier township featuring an 18 + 9 Hole golf course, world-class residences, commercial developments, numerous entertainment amenities, and acres of greenery, was Jaypee Greens’ second project when it was unveiled in Noida in November 2007. The group then started construction on Jaypee Greens Sports City and Jaypee Greens Wish Town Agra, two townships along the Yamuna Expressway and Jewar International Airport, which is scheduled to open soon, and is a 20-minute drive from the city center. 

But destiny was against Jaypee’s prosperity, and Jaypee’s fantasy township became a failure. So let’s talk about this township’s swindling and how many house buyers lost their dream homes.

Jaypee’s Failure in Real Estate:

Who doesn’t want to be the owner of their own home? All of us do. Not just any house, either. A perfect home must be spacious, well-connected to the rest of the city, have a room with a view, and have the best amenities. However, it has been more than 12 years since thousands of Jaypee Infratech Limited (JIL) home buyers in Noida were victims of the mother of all real estate failures in India. The long-drawn legal battles are ongoing, leaving more than 20,000 Jaypee home seekers running from pillar to post and many giving up.

Jaypee got the land of the wish town in return for building the Noida expressway for Rs 400 crores. The company launched 32000 flats, still, 70% of apartments are in the under-construction stage. This project did not show any signs of readiness for the completion date. Around 90% of buyers made their payment, but it was still claimed that progress has been made on this project, although there was nothing to show for it.

A total of 18,767 people paid a total of Rs.8,676 crores to the company. 1410 people received possession worth 528 crores with no registrations. 413 people canceled their booking and their refund of Rs 64 crores is still pending.

Reasons for the failure:

 The reason behind the Real estate failure of Jaypee are:

  1. Jaypee group took the money that buyers had paid for homes and invested it in other projects.
  2. The company invested the money in other businesses.
  3. The government changed at that time.

 Future of Jaypee’s Failure:

After a super-lengthy resolution process, Mumbai-based Suraksha realty group got the approval of financial creditors and home buyers to take over the company in June 2021. Furthermore, in its offer, Suraksha promised to deliver all Jaiprakash Associates’ pending housing units within 42 months. It has offered to pay Rs 125 crore upfront and infuse Rs 3,000 crore within 90 days for completing the stalled projects. It will also put Rs 300 crore receivable from Jaiprakash Associates for completing the pending housing unit. Since Jaypee was an extraordinary case, the finalization of the bids is pending before NCLT for more than 17 months for approval. After the approval, the 20,000 home buyers who have been waiting for their units in various housing projects of Jaypee can finally breathe a sigh of relief.

New Project: Jaypee Greens Yamuna Vihar, Sports City East, Greater Noida

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Construction major Jaypee Infratech has launched a new residential project called Jaypee Greens Yamuna Vihar as a part of its Greater Noida based township, Jaypee Greens Sports City. The project offers residential plots of around 200 and 300 sq yard with a cost of Rs 27000 per sq yard. An pre-launch discount of Rs 900 per sq yard is being offered for a limited time taking the cost to Rs 26100 per sq yard. Booking amount is Rs 4 lakh which can be paid via Demand Draft in favour of Jaypee Infratech Ltd.

Visit jaypeegreensyamunavihar.propertywala.com for more information and booking.

New plots available in Jaypee Greens Sports City

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Jaypee has launched new plots in Jaypee Greens Sports City. These plots are available at a discount of Rs. 1800 per square yards and now it would cost Rs. 16,200 per square yards.
The size of these plots is 153 square yards. Thus, the whole plot would cost approximately Rs.25 lakh.  The additional charges on the plots will be the same as the old ones applied on all other plots.
These plots are available at a further discount of 10% on BSP in case of Down Payment. In case of Partial Down Payment, there is a discount of 6.25% on BSP.
One more update is that the project earlier known as JPSK (Jai Prakash Sports komplex) will now be known as JPSI (Jai Prakash Sports International).

New Plots Launched in Jaypee Sports City Country Homes

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PLOTS

Size-153 sq. yd.

Rate- 16,200 per sq yd. (after disc @ Rs. 1800 per sq yd.)

Additional Charges – as it is

Plots available on :

  • Down Payment Plan – Disc 10% on BSP
  • Partial Down Payment Plan – Disc 6.5% on BSP

Earlier it was known as JPSK (Jai Prakash Sports Komplex)

Now it is known as JPSI (Jai Prakash Sports International)

Inventory Limited

Visit jaypeegreenssportscity.propertywala.com for more information and booking.

Jaypee Greens Announces Lake District in Sports City, Greater Noida

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Jaypee Greens Sports City - Lake District, Greater Noida Jaypee Group (JPSK Sports Private limited) announces yet another new residential project “Lake District” under its new sports themed township Sports City along Yamuna Expressway in Greater Noida (Gautam Budh Nagar). The project is so names as it will feature an artificial lake in line with international standards. The project will offer luxury living at affordable rates. The lake district project will have 2BHK (2 bedroom), 3BHK (3 bedroom) with optional worker rooms (servant quarters), and 4BHK (4 bedroom) with worker rooms (servant quarters) residential apartments.

For further information such as floor plans, pricing, booking details, etc. please visit: http://jaypeelakedistrict.propertywala.com/

Jaypee Group to Announce Jaypee Greens Sports City in Greater Noida

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Athens Olympic Sports Center
Photo by Ava Babili After the success of various projects like Jaypee Greens Kosmos, WishTown Klassic, Aman etc. in Noida and Greater Noida, Jaypee Group is ready to unveil their newest venture in premium real estate — Jaypee Greens Sports City, Greater Noida — according to reliable sources.

The project will be located in the heart of Greater Noida in close proximity to proposed Formula 1 racing track, Jaypee Integrated Sports Complex, Golf course, NRI City, Gautam Buddha University. The project will mainly consist of affordable 2 and 3 bedroom budget apartments and commercial properties.

Due to its prime location and features the new project will offer an excellent living environment and an ideal investment opportunity.

Formal announcement is awaited and further details and updates will be available on the website http://jaypeegreenssportscity.propertywala.com/ .

Nearby Landmarks

  • Transportation

    • Railway Station Dadri (<6km),
    • Airport (<31km),
    • 18 New Dehli Airport (<43km),
    • Private Delhi Airport Parking And Store (<45km),
    • Dankaur Bus Stand (<19km),
    • Bus Terminal (<22km),
    • Taxi Stand (<2km),
    • Auto Cum Taxi Stand (<5km)

  • Markets & Shopping Malls

    • Singapore City And Mall (<2km),
    • Harsha Mall (<2km),
    • Gamma Shopping Mall (<5km),
    • Ansal Plaza Shopping Complex (<3km),
    • Logerstromia Shopping Complex (<3km),
    • Community Shopping Center (<3km),
    • H Block Commercial Complex (<4km),
    • Zonal Shopping Center (<4km),
    • Greator Noida Shopping Plaza (<4km),
    • Bajrang Shopping Centre (<4km),
    • Kadamba Shopping Centre (<4km),
    • Bagon Villa Shopping Centre (<5km)

  • Banks & ATMs

    • Bank Of Maharashtra (<2km),
    • Icici (<3km),
    • Hdfc (<3km),
    • Citi Corporation Bank (<4km),
    • Bank Of Baroda (<4km),
    • Syndicate Bank (<5km),
    • Indian Bank (<5km),
    • Oriental Bank Of Commerce (<4km),
    • Icici (<5km),
    • Canara Bank (<5km),
    • State Bank Of India (<9km)

  • Restaurants & Clubs

    • Swagat Restaurant (<3km),
    • The Yellow Chilli (<5km),
    • Dawat (<5km),
    • Spice Of India (<5km),
    • Sharma Vaishno Dhaba (<6km),
    • Heritage Club (<1km),
    • Club Beta Ii (<3km),
    • Shiva Sports (<4km),
    • The Steller Gymkhana Club (<4km),
    • Club Ansals Golf Links (<4km),
    • Club Gamma I (<5km)

  • Movie Halls

    • Inox Air Products Ltd (<7km),
    • Durga Cinema Hall (<10km),
    • Mohan Palace Cinema (<11km)

  • Parks

    • City Park (<1km),
    • Water Park (<2km),
    • Accman Instittute Of Management (<5km)

  • Hospitals & Clinics

    • Dr Dhiraj Ahlawats Clinic (<2km),
    • Vlcc Slimming Beauty Fitness (<2km),
    • Virddhi Clinic And Medicose (<3km),
    • Final Diagnosis (<3km),
    • Dr Chauhan Poly Clinic (<3km),
    • Manav Sewa Clinic (<4km),
    • City Homeopathy (<4km),
    • Jyoti Hospital (<3km),
    • Nimt Hospital (<3km),
    • Kailash Hospital (<3km),
    • Sahdev Hospital (<4km),
    • Pryag Hospital (<5km),
    • Prayag Hospital & Reserch Centre Pvt Ltd (<5km)

  • Offices

    • Main Office (<3km),
    • Greater Noida Authority Office (<4km),
    • New Universal Office System (<5km),
    • Office Solution (<5km)

  • Schools & Colleges

    • Daffodil School (<1km),
    • Higher Secondary School (<2km),
    • Priyadarshani School (<2km),
    • Summer Villager School (<3km),
    • Nand Marg Nursery School (<3km),
    • St Joseph School (<3km),
    • Ryan International School (<3km),
    • Jp International School (<4km),
    • Dharam Public School (<4km),
    • Diamond Drill Senior Secondary Public School (<4km),
    • Iec College (<3km),
    • Global Institute Of Management And Technology (<4km),
    • Pccs College (<4km),
    • Bakson Homeopathic Medical College (<4km),
    • Priyadarshini Institute Of Management And Technology (<4km),
    • Hauard Institute Of Management And Technology (<4km),
    • Iec Institute Of Management And Technology (<4km),
    • Ramesh Institute Of Management And Technology (<4km),
    • Galgotias College Of Engineering And Technology (<5km),
    • Ishan Institute Of Management And Technology (<5km)

* All distances are approximate