Originally Posted by djvjain

All this is very well known about Jaypee as it is one of the most corrupt business houses of India. Wonder why they never had any project in Gurgaon - I guess couldn't find enough people to bribe? Also, wonder why they have these plants, factories, industries in the middle of nowhere because they pay for nothing after bribes.

I consider Jaypee to be worse than a small scale builder. They will continue this extortion for ages as long as there are enough suckers around. Consumer court cases etc doesn't bother them much as defending in court is much cheaper than delivering. They will just sit on your money and get 15% return and use the same money to fight your legal case against them.

Re-sale prices of Jaypee properties are down and infact less than what they were sold for, but people never cared to see a reason why? There is no brand value or quality with Jaypee, but just a crooked value.

Jaypee is for Noida what BPTP is for NeharPar. Atleast, latter started delivering some of the projects after being late by 3-4 years, but in case of Jaypee delay would be 6+ years or may be more.

Originally Posted by vbinda

Re-sale prices of Jaypee properties are down and infact less than what they were sold for,

Please give an example of this, Or do not spread false rumors.

Originally Posted by LIONTALKS

Dear,

Please mention projects in Wishtown-Noida at below the price of launch or at par, as I'm looking for a property in re-sale. Thanks.

Originally Posted by djvjain

They will just sit on your money and get 15% return and use the same money to fight your legal case against them

Originally Posted by drasitkhanna

I was very interested in JPWT after having narrowed it down from several projects after months of reading through IREF and site visit to JPWT and several discussions with broker
My reasons for choosing JPWT were
---solid reputation of builder
--- very good location of project
--- whole town will be maintained bY builder only so roads/institutions/malls/hospital/school/college going to come up and would be well maintained
--- snob value of Jaypee name
--- very competitive/good going rates presently of most projects (in the MIG range flats)


BUT.............!!!!!

I HAVE NOW ABANDONED THIS PROJECT .......
Reasons----

The projects are sooooo severely delayed that for ordinary people like us who dream of one dream home in one lifetime waiting 5 or more years after starting to invest is a STUPID idea . Specially with so many good projects also on offer all over NCR.
ALl Jaypee projects are delayed WITHOUT EXCEPTION, they have not delivered a SINGLE project in Wishtown till date !!!! it is only going to be liveable by Minimum 5to 7 YEARS !,by that time you can be happily sleeping in your home in many other projects .
What gets my goat is that every few months they announce a new project/township/ golf course etc etc despite bothering to complete older projects first. Jaypee being multi-multi -multi billionaires do not need money from a previous project to fund there next project, a very commonly used strategy by small builders. Then WHY DON'T THEY FINISH ONE PROJECT AND THEN START THE NEXT.???? neither should they be earning interest from investors deposits if their intentions are clear. This suspicion of mine was further cemented after reading details of a Investor -Jaypee meet held on 12th may inJPWT .it was very acrimonious and JAYPEE flatly refused to increase the late delivery penalty from a paltry 5 rupees /sq foot/month to 18 % interest penalty as demanded by the flat owners association. If Jaypee had any decency they would have apologised to the investors and agreed for a compromise or some gesture etc.
You please go through the postings of these flat owner associations of Japyee and YOU WILL BE DISGUSTED HOW THEY ARE BEING TREATED BY Jaypee. In these times where builders run after investors and treat them with respect , here it is opposite !!! The flat owners associations are going to file case/cases in consumer court/high court against JP . This is another reason I don't want to get involved in this shit. They are having to pool in money for the lawyers etc !!!!
The groups are on yahoogroups and I am a silent member .
Read all posts inIREF also .
Also the Jaypee people are not involved in direct selling of their projects . It is outsourced to different realty companies like BOP, RenaissnaceRealty etc etc. This is perfect smoke screen on JPs part I believe. the customer care operators of Jaypee hence have no clue on project updates, give different answers to same query at different times. Even the project managers of different projetcs give different dates of completion for their projects !!!!
On top of that recent court ruling ordering demolition of a 100 crore Jaypee cement plant in Himachal due to gross violations of laws/bribery/collusion with state officials etc etc exposed Jaypee also as no different from the cheap type local mafia builders....
Due to all this I lost all faith in ALL their projects.

pleas note --- I am not a Jaypee BASHER OR ANTI JAYPEE or anything .. ( my F in Law was ED in jaypee cement )If they mend their ways I would be the first to buy my dream home in Kensington Boulevard 3bhk ! I am not a broker or property dealer . I am still looking for my ideal flat for investment......
Cheers!
( copy pasted from another thread, this seemed a more appropriate thread...!)

Originally Posted by AbhimanyuVS

@dwarlaex

you said, ''I was just about to book a property in any one of Klassic, Cosmos or Kresenct. But thanx to this thread I would not even look at that side levae alone buying. Thanx a Lot.''

Do you know about any option that i could also look at please? i am so keen to find a builder known not only for good quality of construction and good locations, but also timely delivery...

Originally Posted by gauravjeet2181

manoja bhaiya mai bhi jaypee ka sataya huaa hu .....meeting pey meeting on forum members but no outcome or response from jaypee
after 23 lakhs and 3 years i have seen only LOWER BASEMENT TILL DATE !!

i booked in 2008 jaypee wishtown klassic and now its 2011 and NO CONSTRUCTION only basement has been done in 3 years . jaypee knew it from the very beginning and thus has cheated investors to an extent of delaying the construction . he has also taken more than 50 % of the total cost without doing a thing!!! this is a clear case of cheating and fraud and top to bottom all employyes of jaypee are hand in glove ..till date NOBODY has recieved any response from jaypee cheats !! seems dharnas and slogan shouting infront of jaypee office will only help ! this fraud builder needs to be dragged to court !!

here's my post on consumer forum :
jaypee fraud of the last 3 years Complaints - jaypee klassic 3 years no construction
jaypee fraud of the last 3 years Complaints - jaypee klassic 3 years no construction
View all jaypee fraud of the last 3 years complaints
jaypee fraud of the last 3 years
Location: Uttar Pradesh, India
gauravjeet2181 on Apr 14, 2011
jaypee klassic 3 years no construction
i booked in 2008 jaypee wishtown klassic and now its 2011 and NO CONSTRUCTION only basement has been done in 3 years . jaypee knew it from the very beginning and thus has cheated investors to an extent of delaying the construction . he has also taken more than 50 % i.e approx 27 lakhs/ of the total cost without doing a thing!!! pls go and verify at the site yourself or just do a search in the name of jayppee you will see thousands of cheating complains . this is a clear case of cheating and fraud and top to bottom all employyes of jaypee are hand in glove ..till date NOBODY has recieved any response from jaypee cheats !! seems dharnas and slogan shouting infront of jaypee office will only help ! this fraud builder needs to be dragged to court !!

Jaypee is deliberately doing delay tactics as paying 5 rs per sq feet is easy and CHEAP loan at the cost of our hard earned money.
I suggest to all AVOID JAYPEE like plaugue if u dont want to be treated like beggars and dont want to offer 50 lakhs free credit to jaypee . Banks are also not funding many of their projects !! they are being exposed and will soon face the brunt !!
TO jaypee: Cheats your game will be up soon , launching one "paper project" after another you are fooling alot of people and taking their hard earned money . you will be dragged to court and penalised for u r misdeeds and games you have played with peoples money .