Crisis-hit infrastructure firm Jaiprakash Associates on Monday said it has tied up with Gulshan Homz and CRC for completing 619 luxury apartments in Noida, Uttar Pradesh.
To fulfill its commitment to customers, Jaiprakash Associates Ltd said it has "entered into multiple joint working arrangement" with real estate developers Gulshan Homz group of companies and CRC to complete and hand over 619 high-end Golf apartments in Jaypee Greens Wish Town Noida.
Jaiprakash Associates and Gulshan will jointly construct 113 apartments in 'Boomerang Residencies' project and 305 flats in 'Kristal Court' project.
The construction of these apartments is expected to be completed in the next three to 3.5 years, the statement said.
"Kasablana project comprising of 3 towers with 201 apartments is being jointly developed with CRC group," Jaiprakash Associates said.
Jaiprakash Associates, which is the flagship company of Jaypee group, has presence in engineering and construction, power, hospitality and real estate businesses.
Jaypee group firm Jaypee Infratech is facing insolvency proceedings. Mumbai-based Suraksha group has recently won a bid to acquire Jaypee Infratech and complete over 20,000 pending flats. The approval from the National Company Law Tribunal is awaited.
