No construction at Jaypee Wish Town as YEIDA,

Over 20,000 homebuyers waiting for their flats in Jaypee Wish Town for over a decade now have their eyes set on the National Company Law Appellate Tribunal verdict on a petition filed by the Yamuna Expressing Authority https://yamunaexpresswayauthority.com/ ( YEIDA ) challenging an NCLT order approving the insolvency resolution submitted by Suraksha Group for the Jaypee Infrated Limited http://jaypeeinfratech.com/ ( JIL ). 

YEIDA approached the appellate tribunal after the NCLT on March 7 last year rejected its claim seeking Rs 1,689 crore for payment of additional compensation to formers. The NCLT had limited the sum to Rs 10 Lakh considering YEIDA as an operational creditor. 

 In 2011, lands in the district of Gautam Budh Nagar were procured at the rate of a mere Rs 880 per sqm. In 2024, the lands are being allotted at a substantially higher rate of Rs 25,900 per sqm, displaying an increase of over 2,800% in market valu. Noida International Airport at Jewar, the linking of the Yamuna Expressway with the Delhi-Mumbai Expressway and the Dedicated Freight Corridor. 

YEIDA also found a reduction of the additional compensation amount of Rs 1,689 crore. Suraksha proposed a deduction od Rs 143 crore stating Noida Authority has paid additional compensation to farmers. 

In 2020-2021, the toll collection was Rs 334.18 crore, which rose to Rs 380.03 crore in 2021-2022. In the last financial year ( 2022-2023 ), the toll collection was Rs 428.91 crore. 
 

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