Allow work to start on 6 projects of Wish Town
Real Estate

Allow work to start on 6 projects of Wish Town

An implementation and monitoring committee, led by the CEO of Suraksha Group, is gearing up to file an application with the National Company Law Appellate Tribunal (NCLAT). Their aim is to obtain permission for the resumption of construction work on six projects within Jaypee Wish Town that have remained stalled since 2014.

These six projects, located in Sector 128, encompass Garden Isle, Kube, Orchards, Krescent Homes, Kasa Isle, and Pebble Court, collectively offering a total of 9,320 flats across 82 towers. Progress on these developments had reached just over 50% completion before construction came to a standstill nearly a decade ago.

Officials close to the matter have indicated that, pending a favorable ruling from the NCLAT, the committee intends to swiftly move forward with awarding tenders to recommence construction efforts. Once work resumes, it is anticipated that a significant portion of the 9,000-plus flats will be ready for occupancy within a two-year timeframe.

The application's submission marks a crucial step in the potential revival of these long-delayed projects, offering hope to homeowners and stakeholders eagerly awaiting their completion.

An implementation and monitoring committee, led by the CEO of Suraksha Group, is gearing up to file an application with the National Company Law Appellate Tribunal (NCLAT). Their aim is to obtain permission for the resumption of construction work on six projects within Jaypee Wish Town that have remained stalled since 2014. These six projects, located in Sector 128, encompass Garden Isle, Kube, Orchards, Krescent Homes, Kasa Isle, and Pebble Court, collectively offering a total of 9,320 flats across 82 towers. Progress on these developments had reached just over 50% completion before construction came to a standstill nearly a decade ago. Officials close to the matter have indicated that, pending a favorable ruling from the NCLAT, the committee intends to swiftly move forward with awarding tenders to recommence construction efforts. Once work resumes, it is anticipated that a significant portion of the 9,000-plus flats will be ready for occupancy within a two-year timeframe. The application's submission marks a crucial step in the potential revival of these long-delayed projects, offering hope to homeowners and stakeholders eagerly awaiting their completion.

Next Story
Building Material

JSW Steel and POSCO to Invest ?650 Billion in Odisha Steel Plant

India's JSW Steel and South Korea's POSCO have announced plans to jointly invest ?650 billion (~$7.73 billion) in constructing a steel plant in Odisha. The plant, which will have an initial capacity of 5 million tons of steel annually, is part of their strategy to tap into India's rapidly growing steel market, fueled by its fast-paced economic expansion. The cooperation agreement was signed last week, although specific financial details were not disclosed. The initial investment for the project will be ?200 billion, with the plant expected to be operational by next year. Over the following thr..

Next Story
Infrastructure Urban

India's EV Charging Market Set to Reach $3.7 Billion by 2030

India’s electric vehicle (EV) charging market is projected to grow to $3.7 billion by 2030, driven by increasing EV adoption and the need for efficient charging solutions. The sector is expected to expand at a compound annual growth rate (CAGR) of 16%, supported by environmental concerns and fluctuating fuel prices. Globally, the EV charging infrastructure market is also experiencing significant growth, with revenues forecast to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a CAGR of approximately 12%. "Fast-charging technologies and battery-swapping solutions are esse..

Next Story
Resources

IIA Kerala to host SRC 2024 on November 29-30

The Southern Regional Conference (SRC) 2024, hosted by The Indian Institute of Architects (IIA) Kerala Chapter and organised by IIA Kannur Centre, will take place on November 29-30, 2024 at Vythiri Village Resort in Wayanad. This prestigious conference will bring together visionary architects from across the country  and beyond to foster a rich dialogue and exchange of innovative ideas in the field of architecture.The Southern Regional Conference serves as a premier platform for professional development, knowledge sharing, and networking within the architectural community. This year’s t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000