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 Quest2012
    There is no segregation in court, if you have one or more properties in same project or with same builder. Ultimately, it is your own hard earned money for which you are fighting a case. It does not change claim for refund, interest and even some more claim clauses (which lawyer can help to add...)
    If one is an investor, court does not give liberty to builder to screw your money. It could make more sense on economy of court proceedings, in additional will bring more weightage to the case, if there combined case is filed by 3-4 or more buyers.
    One point is difficult to understand, as what is Jaypee upto by keeping these towers standing tall but not finished and handed over to buyers. Just a crazy thought, are they looking to pass on the finishing works also to come buyer?

    Which towers in particular mate?
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  • Originally Posted by dineshsays
    Which towers in particular mate?

    You never know the way Jaypee is selling the assets, if this sort of though is also ongoing.
    But that is just my guess, considering Jaypee is not putting there acts together for finishing works, while atleast 5-10% amount they will still get from this flats/ towers.
    A probable solution could be that buyers of particular project (say Kalypso) join together, telling Jaypee
    - Jaypee to complete finishing of exteriors and common services
    - Buyers to manage flat interior by themselves at a certain discount passed on by Jaypee to the buyers.
    It could fasten the pace of completion, wherein each buyer can get interior done by themselves on the cost they could discount with Jaypee.
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  • Originally Posted by Quest2012
    You never know the way Jaypee is selling the assets, if this sort of though is also ongoing.
    But that is just my guess, considering Jaypee is not putting there acts together for finishing works, while atleast 5-10% amount they will still get from this flats/ towers.
    A probable solution could be that buyers of particular project (say Kalypso) join together, telling Jaypee
    - Jaypee to complete finishing of exteriors and common services
    - Buyers to manage flat interior by themselves at a certain discount passed on by Jaypee to the buyers.
    It could fasten the pace of completion, wherein each buyer can get interior done by themselves on the cost they could discount with Jaypee.


    Its a fair point - though let me tell you the issue which is quite baffling. Most materials for interiors for Kalypso (for example) - have been purchased and stocked with JP for nearly 2 years - I can even point out 3-4 flats where all tiles, bath stuff, ACs etc are kept, tiling and POP has also been done in most flats. lifts have been done in many towers - so has fire fighting.

    I am really telling you - if they give the Kalypso project to me to manage - I will finish all 15 towers in 3 months - I ASSURE you. Everything is virtually on site, civil work is done, internal roads are virtually done, parking is done, most of the interior equipment is purchased and kept, lot has been installed - but its really a very strange stance of almost - must-delay-else-we-will-loose-our-reputation kind of delay is being induced.

    They are really confused on what their low hanging fruits are even

    Obviously because we are all just not coming together in a proper fashion again and again like we did on 30th August (I know others are still working hard to do what they can - I am just stating a fact, dont mean to belittle the efforts in any manner) - Jaypee are taking advantage of this and completing admin, hospital etc first

    Your suggestion is a good one - just that stuff is mostly there - Jaypee is just continuing to be excruciatingly slow
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  • Originally Posted by deeprupani
    Nothing of this sort is happening.... I am sure there will be long queue outside JP office to avail such an offer....


    One needs to ask.

    There is no queue because I know and so do others that we want flat, not money back.

    My 12% money back I can anyway get by selling in the market - so why I should bother?

    Rest dont ask because even if they get 12% interest, they cannot buy anything else - because most of the money was on loan and the 12% will pay off the bank charges that is all - they will get nothing after all these years.

    It makes better sense to wait. So all are cursing and waiting.

    JP also knows that with court case they have to return princpal with 18% interest (even with them charging 12% because of delay they will be forced to pay 18% by court, many judgements have recently come.

    Write a legal notice (letter from lawyer) asking for refund due to inordinate delay with interest on capital. They will be happy to compromise with 12% instead of risking 18% from court. If they reply in negative, consumer court in Lucknow (Delhi if over 1 crore) will anyway get it for you after 3 year - you will gain more interest if you wait as well and JP lawyer will calculate that 3 years period also - likely they will return money

    Their lawyer knows they cannot win in court. After 2 or 3 meetings they will return money with 12%. Otherwise after 3 years thay have to pay 18% for 3 years - and they will lose a lot of money
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  • Originally Posted by dineshsays
    Its a fair point - though let me tell you the issue which is quite baffling. Most materials for interiors for Kalypso (for example) - have been purchased and stocked with JP for nearly 2 years - I can even point out 3-4 flats where all tiles, bath stuff, ACs etc are kept, tiling and POP has also been done in most flats. lifts have been done in many towers - so has fire fighting.

    I am really telling you - if they give the Kalypso project to me to manage - I will finish all 15 towers in 3 months - I ASSURE you. Everything is virtually on site, civil work is done, internal roads are virtually done, parking is done, most of the interior equipment is purchased and kept, lot has been installed - but its really a very strange stance of almost - must-delay-else-we-will-loose-our-reputation kind of delay is being induced.

    They are really confused on what their low hanging fruits are even

    Obviously because we are all just not coming together in a proper fashion again and again like we did on 30th August (I know others are still working hard to do what they can - I am just stating a fact, dont mean to belittle the efforts in any manner) - Jaypee are taking advantage of this and completing admin, hospital etc first

    Your suggestion is a good one - just that stuff is mostly there - Jaypee is just continuing to be excruciatingly slow


    Dinesh brother, did you (I mean kalypso buyer) every try to meet jaypee senior management and ask this question ???
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  • Rahul - no - I am guilty. Problem is Ive spoken to a few senior people at JP on various other issues.

    And they have standard, stonewalling answers to all, almost always I hv left with a grim bad taste in my mouth.

    What impacts them are numbers or legal - anything else is JUST NOT ENTERTAINED.

    That is why I was such a fan of the protest that happened on 30th August. That really shook them - it is confirmed.

    But more the period between similar protests - more they get back to bad habits.
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  • Originally Posted by dineshsays
    Its a fair point - though let me tell you the issue which is quite baffling. Most materials for interiors for Kalypso (for example) - have been purchased and stocked with JP for nearly 2 years - I can even point out 3-4 flats where all tiles, bath stuff, ACs etc are kept, tiling and POP has also been done in most flats. lifts have been done in many towers - so has fire fighting.

    I am really telling you - if they give the Kalypso project to me to manage - I will finish all 15 towers in 3 months - I ASSURE you. Everything is virtually on site, civil work is done, internal roads are virtually done, parking is done, most of the interior equipment is purchased and kept, lot has been installed - but its really a very strange stance of almost - must-delay-else-we-will-loose-our-reputation kind of delay is being induced.

    They are really confused on what their low hanging fruits are even

    Obviously because we are all just not coming together in a proper fashion again and again like we did on 30th August (I know others are still working hard to do what they can - I am just stating a fact, dont mean to belittle the efforts in any manner) - Jaypee are taking advantage of this and completing admin, hospital etc first

    Your suggestion is a good one - just that stuff is mostly there - Jaypee is just continuing to be excruciatingly slow

    I would still not doubut their intention, but the way they are progessing like "Jaldi chalke kya jeet lenge hum".

    Having said that, a big group of buyers (like one on 30th August) if keep on hammering on their head every month, should make them move. I am sure 99% people are interested in getting there flat, and gathering on a weekend all together is the least time consuming than any legal options...
    For the owners of flats in towers fully done, it shall be of great benefit to spend every month one weekend jointly, at Jaypee Cafeteria and pushing them as much as possible...
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  • NCR Home Buyer

    ‪#‎GIVEOUOURHOMES‬ : After organising the ‪#‎peacemarch‬ on 1st November 2014 from ‪#‎GIPL‬, Noida to Film city Noida to outline comman issues that need early resolve in the upcoming real estate bill; the group has sounded the clarion call for the next Mega protest against builders atrocities against ‪#‎homebuyers‬ in NCR region

    Participants include home buyers of ‪#‎JaypeeInfratech‬, ‪#‎Unitech‬, ‪#‎DLF‬,‪#‎EmaarMgf‬, ‪#‎SDSgroup‬, ‪#‎GardeniaGlory‬, ‪#‎Parsavnath‬, ‪#‎Shristishipra‬,‪#‎purvanchal‬, ‪#‎3c‬, ‪#‎TodayHomes‬, ‪#‎Gaursons‬ and many more of ‪#‎NCR‬Region.
    Join The Event At https://www.facebook.com/events/591636424315413/
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  • May be the land on which Kalypso etc. is standing is mortgaged to some bank as collateral for the debt they carry? Completing the project and getting OC (after NGT approval of course) has to be followed by registry in a stipulated time and registry can't happened unless bank loans are repaid and NOC from bank is obtained. I don't have any stake in this project, else I'd have found out. It is clearly mentioned in lease deed for plots of Logix and 3C's projects that builder can mortgage the land to banks for getting loans after obtaining permission from authority. Why can't someone just file a RTI (cost Rs 10 only) with noida authority to find out if the land for these projects is mortgaged to bank and if yes, then under what terms and conditions?
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  • Originally Posted by Quest2012
    There is no segregation in court, if you have one or more properties in same project or with same builder. Ultimately, it is your own hard earned money for which you are fighting a case. It does not change claim for refund, interest and even some more claim clauses (which lawyer can help to add...)
    If one is an investor, court does not give liberty to builder to screw your money. It could make more sense on economy of court proceedings, in additional will bring more weightage to the case, if there combined case is filed by 3-4 or more buyers.
    One point is difficult to understand, as what is Jaypee upto by keeping these towers standing tall but not finished and handed over to buyers. Just a crazy thought, are they looking to pass on the finishing works also to come buyer?



    Having spoken several lawyers and people who have actually filled cases on builder etc I can confirm a few things upfront - NCDRC IS A COURT specialised for consumers.
    The moment you have two or more flats builders challenges the jurisdiction which knowing courts takes the case in another direction to duly establish jurisdiction. The motive of the builder here is to buy time which is all they need as there is no other wY for them avoid paying you penalty. Period.
    For all logically means if builder is able to delay cases by an year or so, the property may get ready and then even if jurisdiction I'd proved you would most likely loose interest. This is what I have been informed by several people who are in the think of things.
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  • Jaypee Greens - Noida

    In addition to what I Have said above this is in no way to discourage action of any sort. Nomatter what happens in NCDRC there are several other forums which are open like CCI for example. Just wait for final verdict on the dlf case as it hopefully be promising as it will impact everything even if the real estate regulatory bill turns out to be a dampner.

    Lot needs to be and rather on a war footing.
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  • Originally Posted by Venkytalks
    One needs to ask.

    There is no queue because I know and so do others that we want flat, not money back.

    My 12% money back I can anyway get by selling in the market - so why I should bother?

    Rest dont ask because even if they get 12% interest, they cannot buy anything else - because most of the money was on loan and the 12% will pay off the bank charges that is all - they will get nothing after all these years.

    It makes better sense to wait. So all are cursing and waiting.

    JP also knows that with court case they have to return princpal with 18% interest (even with them charging 12% because of delay they will be forced to pay 18% by court, many judgements have recently come.

    Write a legal notice (letter from lawyer) asking for refund due to inordinate delay with interest on capital. They will be happy to compromise with 12% instead of risking 18% from court. If they reply in negative, consumer court in Lucknow (Delhi if over 1 crore) will anyway get it for you after 3 year - you will gain more interest if you wait as well and JP lawyer will calculate that 3 years period also - likely they will return money

    Their lawyer knows they cannot win in court. After 2 or 3 meetings they will return money with 12%. Otherwise after 3 years thay have to pay 18% for 3 years - and they will lose a lot of money



    Venky, please get over this thought of Jaypee will give you 12 % as soon as you ask fir it. The story is not from five years ago where property returns were 20 percent and only few people will opt for it.
    Some one said correctly above, there will be a line in front of Jaypee Office...... and I will be standing in it for sure. Do bro things at Jaypee are a lot different lately. They are under real financial stress.
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  • Originally Posted by dineshsays

    That is why I was such a fan of the protest that happened on 30th August. That really shook them - it is confirmed.

    But more the period between similar protests - more they get back to bad habits.


    Not sure how much true, but the sad part is no impact on construction in wish town after the protest. May be more aggressive protest with stick in hand can wake them up.
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  • Originally Posted by Aviral79
    Venky, please get over this thought of Jaypee will give you 12 % as soon as you ask fir it. The story is not from five years ago where property returns were 20 percent and only few people will opt for it.
    Some one said correctly above, there will be a line in front of Jaypee Office...... and I will be standing in it for sure. Do bro things at Jaypee are a lot different lately. They are under real financial stress.

    So is there something you and the core folks hv thought in terms of legal action for protection?

    Cant we put in a mass case in NCDRC - to ensure WTs interest is protected
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  • Originally Posted by Aviral79
    Venky, please get over this thought of Jaypee will give you 12 % as soon as you ask fir it. The story is not from five years ago where property returns were 20 percent and only few people will opt for it.
    Some one said correctly above, there will be a line in front of Jaypee Office...... and I will be standing in it for sure. Do bro things at Jaypee are a lot different lately. They are under real financial stress.

    Poocho toh sahi?

    Ask first.

    Ask with lawyer second.

    Ask with court third.

    If builder defaults on delivery return of capital with interest is assured.

    If thats what you want - why arent you asking for it step by step?

    I have got early payment discount at 12% amounting to a total of about 3 lakhs so far.

    If your project is delayed (from 2009) your case for refund of capital with interest is overwhelming. Thats Klassic Kosmos Pavilluon Imperial etc.

    But yes, projects from 2012 launch not yet delayed. No case.
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