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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  • Yes, common man is more powerful than any entity in the longer run , agree. DLF is comparable to JP in terms of market domination in RE for Gurgaon and Noida respectively. Supertech is not in the same league as these 2 at all. Competition commission can take action against JP for unfavorable PAL's. But, i have doubts because it is not just DLF who has flouted rules, others are even worse. CCI should have acted against JP long back going by their delivery track record and lop sided PALs. Judiciary cant be selective about cases and needs to punish a lot of RE companies if they believe DLF was at fault. Only then will companies like JP, Unitech and others wake up and start delivering. Right now, they have no fear of law about late delivery.

    And it is great to see JP investors waking up! This must be a first in Noida RE, such a large scale protest at a builder's office.
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  • Originally Posted by bittu_singh
    Just trying to put some numbers together....Venky and Others may have better view on this.

    As of Sep/Nov13 (as per Jaypee Presentation available on website)
    http://jaypeeinfratech.com/jp%20infratech/jil-presentation-Nov-13.pdf

    Data On Jaypee Infratech

    Total Launched (in mn SQFT): 59.3
    Total Sold (in mn SQFT): 54.2

    Net Sales Value: 18624 Crores
    Advances Received: 12626 Cores

    (This sales values does not include the Bulk Land Parcels sold): Which are 1500 crores from Gaur (Gaur City), 380 crores for Oh my God + Ajnara + others

    So if we put this all together (assuming some 2500 crores for Bulk land sale)

    Net Sales Value: 18624 + 2500 = 21124 Crores
    Advances Received: 12626 Cores + 2500 = 15126 Crores

    As per presentation available on Jaypee Websites...the company used around 4500 crores of Advances on Yamunna Expressway. Rest should have been used for Residential constructions..

    As there is NO Land Cost to Jaypee...Do you think, 10000 crores spent on Jaypee Wishtown Noida + Aman. And still some 5000+ Crores yet to be received from Buyers.


    For development of 59.3mn SQFT....going by Average Rs.2000 per sqft (across wishtown+aman)...you need 12000 crore

    This number is less than what we already paid to Jaypee (as Advances)....There is still money to be received by Jaypee


    Is the money being siphoned?

    Is this clear case of inefficiency?

    OR are they spending our money on Hospital, Corp Office + Other Businesses?

    Are we paying for just Debt Interest across level?

    Really confused

    You have done a better job than I could have !

    But situation is more complicated. Some 400 odd acres are actually JP associates who are building pavillion imperial etc.

    Kosmos klassic onwards it is infratech. And some land transferred to trusts for hospital school college.

    Most of the best location is yet to be launched. And that is why they SHOULD want to protect their brand. As it stands they have destroyed most of the goodwill.

    50000 crore is ballpark figure for valuation of wishtown. Minus cost of construction.

    They have sold around 30,000 flats. So some 20,000 crore should be receivables. Pretty close to your own figure of 15000 cr. 5000 cr would be by jp associates.

    Their profit margin would be about 25%.

    AT LEAST 20000 to 30000 crores is unlocked value of their remaining land. And here profit margin would be 75%.

    Provided they retatin a few shreds of their reputation.
    Originally Posted by orchardman
    The continuous pressure on Noida builders by consumers is a must so that they are on their toes and don't take consumers for granted. However the laws may be in favor of the builders. Changes will take time.

    The silver lining currently in Jaypee Greens is only for the new enduser/investors. The price is very sensible and much undervalued due to various issues.

    People can find many good deals which ordinarily would be impossible to get.

    So again two sides of the same coin........someone's tragedy is other person's opportunity.

    Jaypee greens mein sale lagi hui hai......steal deal utha sakte ho to uthao lo.

    Yes. The more you let them get away unopposed the more liberties they will take.

    For Pavillion they took 10% super area extra. For Klassic 5% extra they are taking. So previous protests have had effect.

    The fight is long and hard. But people have to come together and keep resisting until injustice is rolled back.

    Originally Posted by deser7rose
    Not exactly the way anyone wanted the meeting to end; now Jaypee would have got some idea what they are going to face.

    Here in the photo below you can see li'l Gaur trying to put all his wisdom to use



    Watch the video below:

    https://www.youtube.com/watch?v=nSMfxYT69JA#t=23

    Going to put the video links in JPInfra forum at MoneyControl Message Board. Let's see how the buyers react to this Monday morning.

    Here is full report about the 30th August protest at Jaypee Wishtown: Black rage at the Jaypee Infratech homeowner


    Good idea. Having thrown the blow one should try to inflict maximum damage.
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  • It is true that Jaypee is unreliable, dishonest and cheat builder
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  • Few more low cost ideas to promote and spread the wrong doings of Jaypee:
    - Social Media: All shd regularly post on their timelines of facebook, linkedin, twitter etc.(Ask all friends to like/share)
    - Use your cars as communication media: back sunshield, stickers etc.
    - Try getting a big hoarding on dnd or on high traffic location or just outside jaypee office...of course through some contact free if possible.....
    - Radio is very cheap...can be used for delhi ncr....non prime time
    - Low cost phamplet distribution inserts in leading newspaers....especially the newspaper that goes in gaurs house
    - Cheap ads on local cable tv networks
    - Big banners on flyovers(just like aam aadmi party did)
    - Message on tshirts/caps.....already being done
    - Email details of this meeting to all media houses/editors in Delhi NCR.....i am sure many will pick this story and make it bigger....especially after Supertech and DLF...TV, Newspaper, Internet.....
    - mass emailing to all jaypee customers.....i am sure list can be accessed as so many brokers have it....
    - Human banners should move around in sector 18 market, GIP etc.....
    - Can we send 1000 letters separately 10 every day to gaur's house.....

    these guerrilla marketing tactics can impact a lot.....cheers
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  • I liked the idea of Orchardman. And the one which we all can do straight is sending letters to gaur's and jaypee office.
    There can be a common letter and I'm also thinking to add an additional page which will have many banners which they gonna love !!!

    I hope everyone will be coming along with us in this initiative ...I'll post the initial version of the doc soon..

    Can someone please put vote calculator for this just to see how many of us will support in this ?
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  • 2nd page will look like this :

    JAYPEE GROUP STOP PLAYING WITH OUR HARD EARNED MONEY

    STOP EXPLIOTING COMMON MAN

    NO FALSE PROMISSES

    STOP ROBING COMMON MAN

    DON’T PLAY WITH OUR DEAMS

    GIVE US OUR HOUSES

    DON’T MESS WITH US

    BE READY FOR REVOLT

    YOUR DOOMS DAY WILL COME SOON
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  • My dear , I have already invested in 3 Noida projects of 3C and JP, if u feel just investing makes u blind to all ills of a builder, good for you. Just because I have invested with a builder wont make me sing his praises when he is clearly wrong. That's the difference between brokers and investors. Take care and God bless you who ever you are creating fake id's :))
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  • Originally Posted by Ilovenoida
    2nd page will look like this :

    JAYPEE GROUP STOP PLAYING WITH OUR HARD EARNED MONEY

    STOP EXPLIOTING COMMON MAN

    NO FALSE PROMISSES

    STOP ROBING COMMON MAN

    DON’T PLAY WITH OUR DEAMS

    GIVE US OUR HOUSES

    DON’T MESS WITH US

    BE READY FOR REVOLT

    YOUR DOOMS DAY WILL COME SOON


    Great going bro, the more pressure applied on JP , better for all us investors and end users. You are seeing brokers and company agents are already getting rattled on IREF itself.
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  • At the outset we would like to say thanks to all who supported for 30th agenda. A special thanks to 500 plus people who joined for 30th August meeting, be it elderly senior citizens, youth and kids as well accompanying their parents. We received tremendous response and feedback through different communication channels for 30th August meeting.

    We would like to brief here the proceeding of 30th August meeting:
    a) We started accumulating since 10 AM.
    b) Jaypee had made seating and microphone arrangement in Annapurna Café which was too small considering 500 plus gathering, buyers had no option but to sit on ground.
    c) To set the tone we had an initial agenda setting meeting within the buyers, did some media clicks and proceeded towards Annapurna Café.
    d) Second level management (Mr. Ajit Kumar and Mr. R K Anand) joined there and tried to address the buyers.
    e) Buyers outright rejected to discuss second level management and clarified that we will meet top management only.
    f) Finally they agreed, Samir and Sachin Gaur joined the meeting which the buyers applauded.
    g) People were really angry with the management. To understand the anger level, we decided to have to the point discussion.
    h) Buyers representative raised one by one point (as decided in the agenda i.e. possession, penalty and super area increase). Management was no that kind to accept majority of buyers request and agreed to formally sign Minutes of Meeting (MoM).

    i) After the meeting got over, buyers proceeded towards media people to publicise their anger.
    j) 7 representative from the buyers again met with Mr. Ajit Kumar and Mr. R K Anand for sign off on MoM with the management (combination of 4 from event management committee and 3 randomly selected from the buyers).
    k) After lot of discussion on language and signing authority, management agreed on one point of language and sign off from Mr Gaur. This will be a strong base for any legal actions.
    l) In between rain started and buyers scattered and the day was over with not very satisfactory outcome due to Jaypee management rigidness.

    Attachments:
    a) Buyers submission
    b) Signed MoM



    Jaypee management has agreed that they will be sharing realistic completion dates with Wishtown and Aman buyers in next 7 days. If in case anyone is in non receipt of such communication from Jaypee please revert on jaypeegreensresidents@.com, we will take it up with Jaypee management in follow up meeting with Jaypee.
    We understand everyone’s expectation and looking towards the way forward. We are introspecting about the outcome of 30th meeting, assessing what went right and what went wrong. We are also working towards way forward of this agenda and a follow up with Jaypee management for agreed points.


    We will send next update as soon as we finalise.

    Thanks Again.
    www.jaypeegreensresidents.com


    Posted below are some of the web links for media coverage and pictures
    http://www.noidaforum.com/black-rage-at-the-jaypee-infratech-homeowners-meet-in-sector-128/
    प्राइवेट बिल्डर के खिलाफ बायर्स ने किया प्रदर्शन - Navbharat Times
    Buyers seek Jaypee date commitment - The Times of India



    You tube Link:
    https://www.youtube.com/watch?v=RR99ZzcA4aI&feature=youtu.be
    http://youtu.be/k8xO4wPhY7o
    http://youtu.be/Liiwcll8CNE
    http://youtu.be/yEZ1Rksx78o
    http://youtu.be/nzNdC_b3eic
    http://youtu.be/JLfSxnkOkWM
    http://youtu.be/mS7GyZTS0v8
    http://youtu.be/JyfuT8YC3d8
    http://youtu.be/nSMfxYT69JA
    Attachments:
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  • This document is not legally binding. Let that be clear.
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  • Originally Posted by MeinSonu
    This document is not legally binding. Let that be clear.


    Only if they commit something will legallly binding nature of it become an issue.

    Hopefully they will commit to some fresh dates
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  • When will wish town become liveable? Will it be ready by 2018? Ready with markets, shopping, roads, free of construction activities!
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  • Originally Posted by victor43
    When will wish town become liveable? Will it be ready by 2018? Ready with markets, shopping, roads, free of construction activities!


    If project wise tracking is done by buyers of individual project then kosomos/klassic/kasa/kba/pc/ph/kalypso/imperial of wish town could be ready by end of 2015.
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  • I would not include Kasa and KBA. Would rather include Kalisto. But the point is we are guessing on logical timelines i.e. a builder to work off a logical construction calender.

    If the will/intent is to delay - all predictions go for a toss.

    Jaypee - from the last year plus has no intention to finish in a 'logical' timeframe. So end 2015 can become end 2016 or whatever.

    There is nothing to go on.
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  • Those who want to live are already shifting to Klassic on emergency basis.

    Pavillion court i think 100 people living
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