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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  • now RE business is not attractive as it is used to be.
    earlier getting 50-100% return was a norm but now people feel lucky if they r getting more than 20% return.
    due to this no one is ready to take unnecessary headache.
    even in big cities like bombay etc.. there r huge inventories lyiing since last 1 yr, so one can imagine the condition of noida.
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  • Originally Posted by dragoman
    Is the situation so bad ?? Seniors pls advise ..

    Sent from my GT-I8552 using Indian Real Estate Forum mobile app


    Read your BBA and see if there is clause which allows Jaypee to create a charge against the flat or use it as collateral.
    IF there is a clause than it depends on whether JP has made use of it and whether it actually defaults in future.
    If there is no clause than there is no chance of it happening!.
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  • I do not believe Jaypee will default in the near term but their quality of construction, punctuality and resulting reputation will go for a toss certainly. Little point investing unless there is a fire sales on as Ashish points out. There have been rumors of Reliance/Adani entering into Wishtown in JV with Jaypee. It could help Jaypee monetize remaining Wishtown landbank. But, they may just use the money to refinance and reduce debt than speed up construction.
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  • Reliance is entering into Jaypee power business, but first time heard if they are entering into Wishtown.
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  • What will be approximate number of people , who would have invested in their Real Estate Projects ? Specially the Premium High cost projects ?

    My guess is 5000 atleast .

    Dragoman
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  • Only Kalypso/Imperial can be considered as genuine luxury projects. Unitech has far more premium buyers in Noida than Jaypee I guess, that has not saved it from getting battered. Unitech Grande is in an even worse condition than Jaypee Wishtown you would agree.

    Jaypee screwed up big time when they launched mass market products like Kosmos. The buyers of Imperial Court or even Orchards are not too worried about late possession but you cant expect Kosmos/Klassic buyers to have same waiting capacity/patience. These are the people who will make life hell for Jaypee just as Jaypee has made their life hell. Jaypee should have stuck to luxury or premium housing.
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  • Originally Posted by suavedude
    Only Kalypso/Imperial can be considered as genuine luxury projects. Unitech has far more premium buyers in Noida than Jaypee I guess, that has not saved it from getting battered. Unitech Grande is in an even worse condition than Jaypee Wishtown you would agree.

    Jaypee screwed up big time when they launched mass market products like Kosmos. The buyers of Imperial Court or even Orchards are not too worried about late possession but you cant expect Kosmos/Klassic buyers to have same waiting capacity/patience. These are the people who will make life hell for Jaypee just as Jaypee has made their life hell. Jaypee should have stuck to luxury or premium housing.


    Yeah fully agree. Kosmos/Klassic buyers will give them hell but Jaypee didn't intend to launch those projects early. GFC forced them to do so as the premium market had evaporated. Still this is no excuse and they should deliver on their promises.

    Regarding only Kalypso/Imperial being luxury projects this is not true. There is a whole new level of luxury above those 2 in the form of Augusta Court, Pebble Court and Boomerang Court. Only Boomerang has availability and that too is the non golf rubbish inventory. You are also forgetting the Golf Course plots. I don't know much about unitech but as far as premium clientele is concerned I don't believe Jaypee is behind anyone in Noida. The best of their inventory is sold out and the black sheep will sell after/around delivery.

    I think there are serious issues with the bureaucracy aka Akhilesh Yadav Govt. I don't see any other reason for slowdown. Even if they seriously don't have money to pay contractors then they could easily loan money. I doubt any bank would deny them loans. I think they want to deliver under Mayawati's rule as she has already taken her cut and they have much better relationship than the Yadavs. This is simply my view. I am no expert on UP politics but seems like the only logical explanation.
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  • Thanks for pointing out omissions. I left out Boomerang, Pebble Court etc as they are smaller projects. They are obviously in ultra luxury segment and such buyers are least worried about delay in possession. I did not mean Jaypee is inferior to Unitech in terms of quality. I just meant Unitech has in my view more number of customers in luxury segment than Jaypee has. In terms of quality, Jaypee is probably better.

    I don't think Mayawati will win in 2017 as she got 0 seats out of 80 in General elections. The BJP should win and yea they have a very good relation with Jaypee, so Jaypee will benefit. But, the point is 2017 elections are 2 and half years away. Its not possible for Jaypee to delay possession till then. Jaypee has to deliver some projects real soon to restore battered confidence. Kosmos/Klassic delivery for the mass market and Imperial/Kalypso delivery for the luxury market will do wonders.
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  • Originally Posted by Imperialnoid
    I think there are serious issues with the bureaucracy aka Akhilesh Yadav Govt. I don't see any other reason for slowdown. Even if they seriously don't have money to pay contractors then they could easily loan money. I doubt any bank would deny them loans. I think they want to deliver under Mayawati's rule as she has already taken her cut and they have much better relationship than the Yadavs. This is simply my view. I am no expert on UP politics but seems like the only logical explanation.


    Reason for Slowdown IN the NCR ONLY from a Diff perspective

    1) Delhi transfer of property and Mutation of property on an all time low this results in no cash flow to NCR and hence the Slowdown in buying and Selling in Noida and gurgaon

    2) Property return have started declining very fast as alternatives to Property especially stock market is on a bull run with the NDA Boost in Elections and 35 billion Japanese kitty to infrastructure ............ Big boost to areas where Japanese have industries ............capital to be diverted ....................... look out for the IPO Wars coming soon .............................

    3) Loan Interest rates are not being Lowered by the RBI to flush out the Black money market which is a smart move to eradicate the black money ........... still the age old of functioning system of savings is being eaten up hence the markets are likely to collapse................. main consumer of Black money ie REAL ESTATE thus drastically affected

    4) New Industries and IT are the only hope in the NCR Region if this doesnt crop up soon ...................... this is sustainable only for the NCR market as they will become a little independent of Delhi as people migration will be affected on the places where there are jobs and not where there are prestigious addresses to live in ( NCR compared to DELHI)

    5) THe Longest Never Thought off, Never existing Bubble of Real estate is in DELHI premium market has hit which has turned the table ...................... Property Builder/ Brokers in Delhi have no cheers coming there way till new innovations like Downtowns, High Rises , Theatres, Stadiums , Cultural Attractions Etc come into place as they would be only crowd pullers left in the Delhi hence would result in any kind of buying and selling in real estate ............ I would categorize this as the Advanced industries which would be purely westernized as they would be only source of jobs in the area........................ FOOD industry has already evolved and Delhi is the main hub for it with new international restaurant chains cropping up every now has become the largest employer in the area for new industries .............................

    6) LEasing is going to be the way to go for in Delhi as most of the People now coming to delhi would be there on a temporary basis ........... again adding to the woe of the real estate market as capitals will be stuck for long and would not be liquidated soon ....................... also the apartment system of delhi with no high rises has actually complicated the situation further as at a particular time not all parties in a particular plot will be ready to lease/ furnish/ renovate...............
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  • Originally Posted by suavedude
    Thanks for pointing out omissions. I left out Boomerang, Pebble Court etc as they are smaller projects. They are obviously in ultra luxury segment and such buyers are least worried about delay in possession. I did not mean Jaypee is inferior to Unitech in terms of quality. I just meant Unitech has in my view more number of customers in luxury segment than Jaypee has. In terms of quality, Jaypee is probably better.

    I don't think Mayawati will win in 2017 as she got 0 seats out of 80 in General elections. The BJP should win and yea they have a very good relation with Jaypee, so Jaypee will benefit. But, the point is 2017 elections are 2 and half years away. Its not possible for Jaypee to delay possession till then. Jaypee has to deliver some projects real soon to restore battered confidence. Kosmos/Klassic delivery for the mass market and Imperial/Kalypso delivery for the luxury market will do wonders.


    Sir sadly Jaypee ke liye 2.5 years is very much possible. They take 6 months to announce possession once everything is done. There is truly a lot work left. I am posting a pictographic account. This is the progress in the last 3 months.
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  • 0 progress. Intent lost. Simple as that.
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  • Originally Posted by Imperialnoid
    Sir sadly Jaypee ke liye 2.5 years is very much possible. They take 6 months to announce possession once everything is done. There is truly a lot work left. I am posting a pictographic account. This is the progress in the last 3 months.


    what a shame to see such a nicely constructed tower left in the lurch since the last few months :(
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  • Jaypee is facing an acute short term funds crunch because of power plant deal with Taqa not materializing unexpectedly. They will be an better position once Reliance buys out their power plants in next 3 months. Economy is bound to pick up further as well with Namo in the hot seat. Do not despair bro, I am a realist not a pessimist. Just hang on as you cant be poor since you are invested in Imperial. This will be the best GC view project in all of prime NCR when delivered, hence a great long term investment.

    I feel the pain of those who invested taking loans in Kosmos, Klassic, etc. These guys are paying rent and EMI which is just due to wrong priorities of Jaypee management team. Have faith guys, Jaypee has free land parcel of 6000 Acres, so its not gonna collapse surely. Such a huge company collapsing will bring down a lot of banks too, so its all more improbable. The central government would never allow such a scenario to unfold.
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  • Jaypee is facing an acute short term funds crunch because of power plant deal with Taqa not materializing unexpectedly. They will be an better position once Reliance buys out their power plants in next 3 months. Economy is bound to pick up further as well with Namo in the hot seat. Do not despair bro, I am a realist not a pessimist. Just hang on as you cant be poor since you are invested in Imperial. This will be the best GC view project in all of prime NCR when delivered, hence a great long term investment.

    I feel the pain of those who invested taking loans in Kosmos, Klassic, etc. These guys are paying rent and EMI which is just due to wrong priorities of Jaypee management team. Have faith guys, Jaypee has free land parcel of 6000 Acres, so its not gonna collapse surely. Such a huge company collapsing will bring down a lot of banks too, so its all more improbable. The central government would never allow such a scenario to unfold.


    I am sorry but did you book a flat or a power plant? You gave jaypee money for construction, has this money now gone into a power plant and only way that the money can come back and be used for construction is if the power plan is sold?

    I am being a realist when i say that jaypee flat owners have to demand a forensic audit to track the missing money. Otherwise we can keep talking about power plants,yamuna expressway,land bank, safari, formula 1, cement plant etc. But all this is nonsensical speculation because you dont know WHERE your money WENT do you?

    You just require Money,Manpower,Material and Machines for construction. Guess which one Jaypee is finding hard to get (or to be more accurate which has been misplaced or lost). You need to help Jaypee find this missing money for construction to finish, make no doubt about it.

    People saying they require another M - Mayawati are really conspiracy theorists. What can current government do to stop construction? All plans have been approved. Has there been ever a hint about stop work order from Noida authority? Were goondas hired to intimidate workers and contractors.Trust me it's difficult for SP to extort Jaypee without it becoming public knowledge.

    Please focus on finding the money for Jaypee after all its your money !
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  • I or other friends here are not defending Jaypee bro. I have explicity stated earlier that their management team is full of morons. But, how many apartments have been delivered in Noida after SP came into power ? Logix and 3C are also stumbling ever since the power change in UP. We can not expect SP to advertise in newspaper for bribes. SP recently ordered DLF to stop construction of Mall of India immediately. Circle rates have been increased to an unrealistic level. Do you think its a business friendly government ?

    Our money has gone into F1 ( wastage ) , Expressway and SP's pockets. Jaypee was backing the wrong horse in last elections which is hurting them besides their poor management. Yes, Jaypee has been very poor but the macro environment for business in UP is also not great, one should realize this.
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