What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

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  • Originally Posted by iwonderwhen
    It a retard way of motivating people because your are mixing politics in the RE forum.
    My friend, what i meant to say is if you make cocktail of politics & RE and present it to all RE interested parties, it will defeat the purpose of why we are here.

    I agree with all the people & idea of demonstration against falsified promises made by JP, gathering at JP office & asking question about possession of their dream houses.

    But i request you & all not to create negative atmosphere of fear by using words like “murderer” etc on RE forum.

    I am in the same boat as you are, loosing hard earned money in rent & interest due to these people who multiply their profits from our hard earned money.

    HTH,


    I am saying sorry before writing anything to moderator of this forum for replying it but this is last for this thread.

    Actually i know 3 guys from klassic who are fanatically active on social media for canvassing other people to vote for a mass murderer but when i asked them to join us for protest on 22nd march what they said is " tum log karo...tumhare karne se ho jaayega kuch to possession to humhe bhi milega"

    I hope now u got my point why i wrote those lines. mind you they call themselves "enduser".
    if this is the attitude of enduser who will save us .... so my dear friend iwonderwhen i m sorry if i hurt you or anyone else but i m frustrated with jaypee and more with endusers attitude who can't come for themselves...
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  • Dinesh bhai..

    What happened?? When you are going to upload your pic and your report..
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  • I visited the Jaypee sites yesterday with someone & to my shock - in many towers work has come to stand still - not a single worker could be seen in those towers. Jaypee contractor's has released majority of the workforce which were working in these tower. SITUATION IS GETTING WORSE THAN I THOUGHT.

    Last 5-6 months, no visible progress on ground ! I ask all of endusers in Jaypee to come & protest against Jaypee's intentions.
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  • Originally Posted by reals8
    I visited the Jaypee sites yesterday with someone & to my shock - in many towers work has come to stand still - not a single worker could be seen in those towers. Jaypee contractor's has released majority of the workforce which were working in these tower. SITUATION IS GETTING WORSE THAN I THOUGHT.

    Last 5-6 months, no visible progress on ground ! I ask all of endusers in Jaypee to come & protest against Jaypee's intentions.


    Maybe that's the reason why Dinesh is not uploading his report. He always had more information that an average Joe. Dinesh has some concrete information which he is afraid of revealing, though, he gave a hint that he is himself not happy with the progress.
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  • Originally Posted by reals8
    I visited the Jaypee sites yesterday with someone & to my shock - in many towers work has come to stand still - not a single worker could be seen in those towers. Jaypee contractor's has released majority of the workforce which were working in these tower. SITUATION IS GETTING WORSE THAN I THOUGHT.

    Last 5-6 months, no visible progress on ground ! I ask all of endusers in Jaypee to come & protest against Jaypee's intentions.


    Which projects are we talking about?
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  • Originally Posted by kumar77
    Maybe that's the reason why Dinesh is not uploading his report. He always had more information that an average Joe. Dinesh has some concrete information which he is afraid of revealing, though, he gave a hint that he is himself not happy with the progress.


    I think Dinesh bhai is busy with his new line of work or he is busy dumping his investments in JP as they are going bust :) Arey yar shubh shubh bola karo.
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  • Originally Posted by dineshsays
    I will update in detail but its been dissapointing progress from what I saw last.

    Just feel that last 4-5 months have not been very good

    Sent from my GT-I9300 using Tapatalk 2


    Dinesh Bhai people are getting spooked. How far is the report?
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  • Pls bear with me just not getting any time. Adding some pixs I took for the time being...some delay...sure, fundamentals remain, nothing to get spooked for sure

    Sent from my GT-I9300 using Tapatalk 2
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  • Dinesh Bhai - as usual rosy JP picture setup kar rahe ho ???? You should have been in the protest last week. Another protest is planned on 22nd March. Please be there to report actual reality in WT .

    for kosmos -JP is giving Dec 2015 completion date (Mind you completion date not possession date). This all happened in front of Sachin Gaur. 5 years delay and counting.:(:(
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  • Agree with shaurya29..

    I'll be there at 11:00 AM, 22nd March 2014 (JAYPEE CAFETERIA)

    Originally Posted by Shaurya29
    Dinesh Bhai - as usual rosy JP picture setup kar rahe ho ???? You should have been in the protest last week. Another protest is planned on 22nd March. Please be there to report actual reality in WT .

    for kosmos -JP is giving Dec 2015 completion date (Mind you completion date not possession date). This all happened in front of Sachin Gaur. 5 years delay and counting.:(:(
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  • Hi Folks - my apologies for keeping everyone interested waiting for this. I've been quite tied up and have not had a chance to contribute much at all.

    Anyhow, the following is written in all sincerity, if you agree with this - great, if you don't - that's ok as well. Not here to impose anything, just laying out what I feel.

    Delays - lets start with this. With a quick recap - launched in late 2007, WT virtually crawled for the first 3-4 years with no progress on the ground. If you visit WT and speak to one or two better individuals, even they will admit there were some wrongdoings initially and JP had to make a number of changes in both their corporate structure and with contractors to start seeing any movement

    Next came F1 prep and the crawl virtually came to a standstill. This was the time of extreme patience checking and pain and angst for anyone hoping for timely possession.

    Post F1 - for about the last 3 odd years have been quite good as far as construction is concerned. I have been seeing good progress in most towers and have been reporting the same periodically to everyone.

    With that in mind, I had personally thought and shared with many of you, what I thought would be possession timescales for various units.

    Unfortunately, I have realized that over the last 4-5 months, things have gradually slowed done - they have NOT, I repeat NOT stopped, but pace is slowed down. Let me give you a small project vide assessment of what I felt should have happened (based on good progress on ground from 2010/2011 - 2013, vs what has actually happened.

    Kalypso (It is difficult at home as we intended to shift by Diwali 2014 - but that's not happening - my wife is up in arms :( )
    - I had thought in October - that T1/T2 are virtually ready and fitted and a couple of coats of paint and possession for 2 towers should be announced. Now we are in March and although - everything seems ok - windows done, lift done, acs done, landscaping for 2 towers done, final painting is still left and also a good segregation way for other UC apartments. And I dont understand the logic - there is money for JP to be made on offering possession as well as some goodwill - I just cannot put a finger on why they dont complete this and handover - really - its 8-10 days of work. (I know). Silver Lining - well the only good thing is that all towers are structure complete and are progressing slowly. Overall I think we will miss overall (recent) targets by atleast 8-12 months judging by recent pace.

    Imperial - this is another major surprise. See, the structure was completed well by Q2 last year, surrounding roads, fences also ready, all services laid out, nice golf course in front, even the blockwork (rooms etc) have been ready - as they are done during casting time (not later like in many projects) - but overall fitment has crawled - infact crawled seems to be the hare, where I really want to describe a tortoise. Again, there is good money for JP to make on offer of possession, the more they delay, more expensive things get, worse is the bad name they get - combined with their debt issues and general RE issues these days - they are really screwing it up for them. Silver lining - it still is coming up very well - there is a nice shopping area coming up between, nice greenery etc etc - but SLOOOOWW. I dont see possession starting before Q2 2015 and had you asked me the question last year - I'd have said Q3 2014 for sure.

    Pavilion Heights - Exactly the same issue as Imperial - structure ready, fitments/finishing crawling, money to be made by offering possession - I dont understand it really - lack of operating capital to finish? issues with NA? just a corporate policy to delay - its really frustrating. PH - just one tower has one floor to go and all structure will be fully done - again project is coming out well - lot of openness and green area which is the hallmark of WT. Slow with a capital S.

    PC - well atelast most of PC looks to be progressing - apart from cluster 1, other clusters look to be 2-3-4 months away (apart from 1-2 later towers and just launched Royale). But with all else, it is JP pace - they live in their own hare and turtle story and play the turtule in super slo mo. PC has its good points and bad points - as a standalone project, it has come out ok (not great) - but killer is the delay. And yes, the true story on the ground is only 4 families have shifted - ready answer with JP is that once exams are over you will see more - I dont buy into this.

    Augusta Court/Kalisto Court - similar in status to what they were in Q3 2013 - there are things happening on the site - but at 30% to what they were - I mean these are freaking ready - do you painting, complete the knick knacks and handover already - they've come out quite well - I believe these remain amongst the best residences in Noida

    GC plots - real shame - these are such impressive areas to reside in but no one wants to lead - just 2-3 rubbish houses made (more for completion than anything else) - just one guy was giving it a serious effort (just behind Boomerang Club), but he has also packed up for the time being.

    Boomerang Club - yes it will be impressive, BUT WHEN? I mean these guys have taken 4 years to make just the structure with 0 fitouts - I dont think they can ready this for another year and a half. And its another shame - open the club, open the GC - there is huge rush at Noida GC and I am sure number of people would happily play here - earn some operating income, open WT to reach golfers who would be your no. 1 target audience and use this as a sales opportunity - but NO. JP is happy having built a great GC and have to spend lakhs and lakhs to maintain it.

    Knight Court - structurally, these are progressing ok so no complaints here - it is when they reach fitout stage - then we will see what happens

    Kingswood/Townhomes - there was a time last year when I thought, these will all be handed over by Q2 2014 - great units, great ambience, but no - it is the turtule story played in slo mo - all over again. Again - work is going on, nothing has stopped - but at a tenth of what is was earlier.

    Orchards/Kube - this has progressed very well and work was going on ok - when I saw - if someone knows something else, please post - but I am quite happy with the progress. Too early to comment on delivery etc

    Kensington Boulevard - picked up very well actually - infact these bucked JPs trend of speed when all other projects caught speed and now when everything is slowing down, these are standing out. Real test is now fitout stage which will be reached in 5-10 months.

    KP Plots - too much work around KB for it too be a meaningful environment to start building - I think the whole area needs development for another year before any serious construction starts

    JP Hospital - FREEEZE - what it was last year is what you see now - I mean get the DAMN FINAL TOUCHES DONE and START OPERATIONS ALREADY

    JP Admin Building - quite a lot of movement now - they look serious in starting operations now. Gates etc are coming up very well - finishing is good - they are doing lovely terrace gardens, overall - it is looking very classy - lets see.

    KB/Kristal - digging is in progress - no contractor announced formally (Aviral - FYI - all this is currently noise, nothing has been finalized - these guys will do digging/piling on their own and anytime from NOW till 6-8 months will a contractor be announced

    ---

    Sorry - I have limited insights on Kosmos etc - except that when I visited in Nov or so - area around T9 was looking good - but via recent pics, I can see nothing apart T9 is looking ready - so these guys have obviously delayed Kosmos/Klassic as well

    ---

    Summary - in summary - I have to say there have been numerous delays. Work is come down significantly - but this is somewhat perplexing - what I mean is, in general - all hard work - plumbing, cabling, gas pipelines, roadworks, security gates/rooms, full structure has all been done. There is money and goodwill to be made in handing over - fitouts are much much more easy than hard core civil works - and they can really be sped up - you have ALL floors to work on simultaneously (technically).

    Fundamentals remain - it still will be the best place to stay in Noida (save UGCC which has its own issues) - but one has to take a call on how much more waiting can be done as there is quite a bit left.

    Yes - protests etc are the way to go - 100% right - please lead/participate - whatever. Put as much pressure as possible.

    As far as investing is concerned - in any case - this is not the time to enter/exit - ACROSS. Only if a stable environment comes with Modi in a resounding position - do I think there may be some recovery - till then take some end use calls only.
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  • If there is anything specific I can answer - now is a good time.
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  • Why some guys are accusing dinesh for not updating his report? as if he is responsible for the delays we are facing.

    We have invested in Jaypee & it was our own decision. Dinesh has not asked any-one of us to invest into Jaypee. Its our ill fortune that we are stucked with one of the worst builders (in terms of honoring its own commitments & for having no concern towards customers).

    Now we don;t have any other way than to join hands strongly in maximum numbers & fight with Jaypee to reduce the delay. Possession of Kosmos by Dec-2015 is no-way acceptable, when the project was launched somewhere in 2008-09.

    Many customers are literally cursing Jaypee for putting them into such a financial crisis (paying rents & EMI's). If you have slight faith in GOD, you can imagine what happens to a man if he is cursed from heart by so many people at same time. & Jaypee group is paying for it. They need to sell their milking assets one by one to run the show.

    In soloman island, if people want to remove a tree, they don;t cut it. They just gather around it & start cursing it. In few days the tree automatically die. This is a well known fact & shared here to explain the effect of curse from heart. Believe me, these things really work. May Jaypee get some feel of the pain we all are suffering from.
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  • thanks for the observations bro.....

    Jaypee seems to have started too many projects simultaneously with not a single final delivery in sight. They should have constructed/delivered in phases but that may not have been beneficial to them. So it boils down to the greed of the builder vs the end use objectives of buyers....always clashing. I also feel that the support infrastructure required for this kind of township is currently missing. Jaypee has to rise above the builder/profit mentality and deliver something remarkable in totality to win the trust of people, otherwise the golf course/jaypee brand name etc. will not be able to hold for much long with the investors/end users as none of them will be satisfied.

    Cant live in future for ever, have to enjoy the present as well........I think it will be an exit call for me post elections........lets see.
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  • Dinesh,

    Many thanks for the painstaking update. What I make out is that since a major chunk of the payments is received by the time the structure is complete, the motivation of the builder to complete the finishing part takes a beating. Not because he does not want to hand over, but because there is limited amount of funds at his disposal...so he has to make a choice whether to complete the finishing on the structures already complete or to make/complete structures for the projects lagging behind. Structure completion gives some sense of visible progress and that is what he is trying to demonstrate plus the act of structure making gives more inflows than outflows to balance out the overall cash flow. Progressively, as funds keep flowing in, the finishing will be completed gradually.

    As it is if there is lot of construction around, the livability is going to remain slow. So at this stage, the builder may be tending to go for finishing many towers simultaneously...but slowly...instead of completing and handing over before moving to the other. Overall, with this massive a township, the pain of bigness is showing yet again. Too much work to be done here, there, everywhere.
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