Real Estate project developer ‘Suraksha Group’ has invested Rs. 250 crore in Jaypee Infratech & arranged Rs.3,000 crore credit facility as well, as the company aims to finish approximately 20,000 un-completed flats in Delhi NCR.
Currently Jaypee Infratech holds Rs.1, 250 crore fund comprising Rs.1, 000 crore internal cash along with Rs.250 crore infusion. The credit line will make sure that there is no scarcity of funds to complete all the blocked projects.
The real estate developer Suraksha Group will necessitate Rs.6, 500 to 7,500 crore investment to finish around 160 residential flats across diverse projects.
Out of all the residential flats, the construction work was under process where only 62 flats are there before the takeover, whereas the work on the remaining 97 flats were entirely blocked.
The realty developer Suraksha Group has augmented the bound of work in 62 towers and it is also applicable for getting completion certificates for the finished buildings. Over the 97 completely blocked apartments, contracts have been presented for 41 towers and the work orders will soon be given out for the outstanding 56 residential towers. The construction tasks are projected to be in strong and operated by the month of October.
In the month of June, Suraksha Group took the administration control of JLL following National Company Law Tribunal’s – NCLAT result in May, keeping its proposal to acquire JIL with a view to evade any further postponement in the execution of the resolution plan and to take care the interests levels of all the investors and shareholders.
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