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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  • Jaypee Greens - Noida

    Originally Posted by dineshsays
    Yup - something doesnt click or atleast i dont know how it works - the builder is fined large sum of money - but where do the proceeds go - RWA/body who has lodged a complaint or the government?

    If it is the government - how does it benefit you by bleeding ur builder thereby screwing his position to deliver further

    I just want to know how it works. Perhaps BBA is changed - which 99.9% cases in JP no one even goes for.

    Does CCI also push the builder for faster handover. Yes even uf they can implement giving buyers 12% interest over delay, irrespecrive of delays u may hv made (for which the builder has charged u in anycase) - I think builder will def speed up.



    The biggest take away is perhaps the change in agreement PAL ...BBA or or not does not matter....if you read the CCI order it is on the PAL AND application. .... We are looking for equal penalty ......otherwise a fine is useless for buyers as they don't get anything which is rather stupid. In a way it just further reduces the available funds for project completion but makes builders wary of making one sided clauses which is necessary for the RE market as such.

    Nevertheless we have a meeting with jaypee today so will get their opinion about this. Our effort will be too urge jaypee to do the penalty changes unilaterally rather then wait for CCI to order something like this.
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  • All the best mate. Give them hell
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  • Way to go
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  • Originally Posted by Aviral79
    The biggest take away is perhaps the change in agreement PAL ...BBA or or not does not matter....if you read the CCI order it is on the PAL AND application. .... We are looking for equal penalty ......otherwise a fine is useless for buyers as they don't get anything which is rather stupid. In a way it just further reduces the available funds for project completion but makes builders wary of making one sided clauses which is necessary for the RE market as such.

    Nevertheless we have a meeting with jaypee today so will get their opinion about this. Our effort will be too urge jaypee to do the penalty changes unilaterally rather then wait for CCI to order something like this.


    you can get compensation only through cci, not otherwise?

    consumer court is of no use in your case.
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  • FYI..
    We started as 3-4 KnightsCourt owners at Whatsapp and Yahoo Group. Today we are 85+ strong owners/members group. We are working with Sr. JP officials like Ajit for last 5 months.

    1). As there's huge delay in the construction, we asked JP to provide construction schedule for KnightsCourt with monthly milestones and possession dates for each tower. After continuous meetings and follow-ups received the same with July 2015 as possession date. Received Nov'2015 as revised date after 30th Aug protest which we rejected in our last meeting.

    2). Now meeting with JP on 1st Saturday of every month to evaluate those milestones against actual status on the ground. JP defaulted in those milestones too...

    3). We ask for quality artefacts for KGT as JP cut corners in the construction quality. We are planning to run through these artefacts with 3rd party structural architect.
    We also ask for the copy of the sanction plans and respective approvals from NA.

    4). JP is only interested in completing the structure to receive 90-95% payments and then the intention is to slow the pace to delay the project. In construction, major outflow of funds goes at the time of finishing.
    Other then that JP removed the delay penalty clause from the resale/transfer contract which means more you delay more number of end-users will move out of the project. Investors anyhow will move out before possession.... which means actually little % remains to pay the delay penalty. Moreover delay-penalty is peanuts...
    In a nutshell JP is enjoying the finances from our end at less then 1-2% annually and utilizing the same for their other ventures like YEW, F1, Hospitals, GC, Clubs, Schools, Colleges etc etc...

    5). Legal (CCI + consumer forum) is the only way forward to deal with these guys. CCI window is open for next 40-45 days against JP. Suggest all owners should either file individually or as a group.

    Active participation from all owners is the key to put pressure on JP.

    Yash
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  • Originally Posted by t_yash
    FYI..
    We started as 3-4 KnightsCourt owners at Whatsapp and Yahoo Group. Today we are 85+ strong owners/members group. We are working with Sr. JP officials like Ajit for last 5 months.

    1). As there's huge delay in the construction, we asked JP to provide construction schedule for KnightsCourt with monthly milestones and possession dates for each tower. After continuous meetings and follow-ups received the same with July 2015 as possession date. Received Nov'2015 as revised date after 30th Aug protest which we rejected in our last meeting.

    2). Now meeting with JP on 1st Saturday of every month to evaluate those milestones against actual status on the ground. JP defaulted in those milestones too...

    3). We ask for quality artefacts for KGT as JP cut corners in the construction quality. We are planning to run through these artefacts with 3rd party structural architect.
    We also ask for the copy of the sanction plans and respective approvals from NA.

    4). JP is only interested in completing the structure to receive 90-95% payments and then the intention is to slow the pace to delay the project. In construction, major outflow of funds goes at the time of finishing.
    Other then that JP removed the delay penalty clause from the resale/transfer contract which means more you delay more number of end-users will move out of the project. Investors anyhow will move out before possession.... which means actually little % remains to pay the delay penalty. Moreover delay-penalty is peanuts...
    In a nutshell JP is enjoying the finances from our end at less then 1-2% annually and utilizing the same for their other ventures like YEW, F1, Hospitals, GC, Clubs, Schools, Colleges etc etc...

    5). Legal (CCI + consumer forum) is the only way forward to deal with these guys. CCI window is open for next 40-45 days against JP. Suggest all owners should either file individually or as a group.

    Active participation from all owners is the key to put pressure on JP.
    Yash



    I dont think ppl here will file decide to file any case in court of law

    no one has guts to take such steps
    ppl here dont have decision making power
    ppl here dont have courage
    ppl here dont have money to put in

    in a blog, i read that one member said, that cci will impose penalty , that will further weaken the builder to deliver the project., hahaha
    this type of view will never able to file any case on any builder

    why you are thinking about him,,,, did he think about your and your problem

    you cant imagine, how big money they made just made you fool

    no one here correct knowledge about case,, where to file and under what provision and what will be your PRAYER with the court?

    all these forum is just time pass,,


    ppl here are looking at each other to make first move,,
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  • Originally Posted by rahul40
    I dont think ppl here will file decide to file any case in court

    why you are thinking about him,,,, did he think about your and your problem

    you cant imagine, how big money they made just made you fool

    all these forum is just time pass,,

    ppl here are looking at each other to make first move,,


    Unfortunately I have to agree with you ... Most of the folks here are typical middle class with bent spine ... Waiting to ride on someone else's bicycle. Even I have become like that ... I just become member of many of those pressure groups and wait for godot to arrive.

    Btw those who think jaypee will be bankrupted, if this agitation succeeds in slapping penalty don't realize still 40% of wishtown (in value terms) is unsold(authentic PE research where JP wanted to raise capital from). Jaypee is paying for their hubris mentality in investing anything with word power written on it. WT is very much a cash cow for them.
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  • Originally Posted by rahul40
    I dont think ppl here will file decide to file any case in court of law



    no one has guts to take such steps

    ppl here dont have decision making power

    ppl here dont have courage

    ppl here dont have money to put in



    in a blog, i read that one member said, that cci will impose penalty , that will further weaken the builder to deliver the project., hahaha

    this type of view will never able to file any case on any builder



    why you are thinking about him,,,, did he think about your and your problem



    you cant imagine, how big money they made just made you fool



    no one here correct knowledge about case,, where to file and under what provision and what will be your PRAYER with the court?



    all these forum is just time pass,,





    ppl here are looking at each other to make first move,,



    My friend you also need to remember that several folks here may also be on roles of builders themselves ... So It is makes sense to just ignore such statements rather then waste energy and contradict.
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  • Originally Posted by Aviral79
    My friend you also need to remember that several folks here may also be on roles of builders themselves ... So It is makes sense to just ignore such statements rather then waste energy and contradict.


    if i remember correct, in one of the blog, you also told that if cci impose penalty on jp, that means you ppl are further weakening jp and possession will further delay

    this type of thinking will never in favour of customer

    did jp taken care of you u,,, certainly NOT

    then why u


    JP made big money out of your ppl pocket,, this the logic of competition act 2002.

    money made wrongly, should go back to ppl


    be offensive ,, not defensive
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  • Originally Posted by rahul40
    if i remember correct, in one of the blog, you also told that if cci impose penalty on jp, that means you ppl are further weakening jp and possession will further delay



    this type of thinking will never in favour of customer



    did jp taken care of you u,,, certainly NOT



    then why u





    JP made big money out of your ppl pocket,, this the logic of competition act 2002.



    money made wrongly, should go back to ppl





    be offensive ,, not defensive



    Sir please read post above again as you do not remember correctly..
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  • Originally Posted by Aviral79
    Sir please read post above again as you do not remember correctly..



    file case as soon as possible,

    indian judicial system already slow, at least you dont make it further slow by filing LATE
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  • Originally Posted by rahul40
    file case as soon as possible,



    indian judicial system already slow, at least you dont make it further slow by filing LATE



    Bro I am not particularly a fan of our legal system. If push comes to shove.... will see it.
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  • now vots d status dude

    r they constructing or...

    time pass to bahut ho gaya
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  • Can anyone confirm if bank provides loan in 30:70 payment plan?
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  • Originally Posted by tgupta
    Can anyone confirm if bank provides loan in 30:70 payment plan?



    Of course, your income should be high enuf to finance. It can be upto 80% of the value of property..
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