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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: 6 days ago
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  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by t_yash View Post
    I believe another addition to the above list is their new corporate office.....

    Have they shifted there...or are they keen not to give their own selves possession of their own office!!!!

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    • Re : Jaypee Greens Wishtown, Noida

      You have hit the nail on head, this is the precise reason I believe Jaypee is in such a poor state and will continue to suffer. Those who use social media actively, just check out the profile of Jaypee management team, its poor to say the least. Even much smaller companies have a better management team than Jaypee's. In Jaypee you can get the best of units in any plan if you just bribe the management. That does not inspire any confidence in management team. A set of corrupt jokers is managing a company with 66,000 Crore debt! Even if these guys give you a false date of completion, its of no value.

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      • Re : Jaypee Greens Wishtown, Noida

        If tomorrow JP defaults on it's loan than will bank seize your under construction flats?
        There might be clause in BBA which would allow JP to give your flat to create a charge or give as collateral to bank for it's loans. Just like it happened with Hirandani(HIRCO), which then defaulted and bank seized the propety and is auctioning it out. Guess what the flatbuyers got?
        Its very important to ringfence wishtown from rest of JP and it can only be done by involving courts.

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by boomer View Post
          If tomorrow JP defaults on it's loan than will bank seize your under construction flats?
          There might be clause in BBA which would allow JP to give your flat to create a charge or give as collateral to bank for it's loans. Just like it happened with Hirandani(HIRCO), which then defaulted and bank seized the propety and is auctioning it out. Guess what the flatbuyers got?
          Its very important to ringfence wishtown from rest of JP and it can only be done by involving courts.
          Is the situation so bad ?? Seniors pls advise ..

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

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by krafty View Post
            Have they shifted there...or are they keen not to give their own selves possession of their own office!!!!
            I went to the site sometime back .. I was told they have partially started working from there ..

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

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by boomer View Post
              If tomorrow JP defaults on it's loan than will bank seize your under construction flats?
              There might be clause in BBA which would allow JP to give your flat to create a charge or give as collateral to bank for it's loans. Just like it happened with Hirandani(HIRCO), which then defaulted and bank seized the propety and is auctioning it out. Guess what the flatbuyers got?
              Its very important to ringfence wishtown from rest of JP and it can only be done by involving courts.
              Originally posted by dragoman View Post
              Is the situation so bad ?? Seniors pls advise ..

              Sent from my GT-I8552 using Indian Real Estate Forum mobile app
              Some people foresaw this situation 1 year back in this thread -
              https://www.indianrealestateforum.co...eccans?t=62677

              your question is also answered by many guys in this thread.
              But then most of the guys who were predicting dire situation for Jaypee were kind of not so bullish on RE, so they were thrashed left and right by JP lovers and RE bulls.

              My take is that - JP is trying its best to save its RE business by selling all its jewels. So you can be sure that JP will not reach the situation of bank default.
              But the most important point is that right now JP's most important focus is in collecting cash by any means, customer satisfaction will not be their immediate property.

              Expect delays but your property is safe. The value of land they hold is really good but they cannot just monetise it due to bad market conditions.
              We had been saying 1 year back and current investors might not like it, but sooner or later a fire sale is coming from Jaypee. I wont be surprised if its already happening in closed circles. for next 3-4 years, I cannot forsee any investment here beating the FD returns.
              Last edited September 9 2014, 12:07 AM.

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              • Re : Jaypee Greens Wishtown, Noida

                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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                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by dragoman View Post
                  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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                  • Re : Jaypee Greens Wishtown, Noida

                    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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                    • Re : Jaypee Greens Wishtown, Noida

                      Reliance is entering into Jaypee power business, but first time heard if they are entering into Wishtown.

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