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 Bharatiya
    Even going by your logic. If banks did have right over land, they should have exercised their right by stopping the registration process of properties.

    So banks acting careless and allowed this mess to be created. This fact will go very much against banks in court. No court can put interest of banks than of above home owners.

    Arey sir, if Bhagalpur krishak sahkari bank has lent money to JP against some land, how do you expect it to keep track of who is registering flats built on land that is mortgaged to them ? They don't have the state machinery at their disposal.

    If someone stole some movable property from your house and then sold it to someone else, will you say it was your responsibility to make sure that the other person didn't buy it and that you should forget about your legal rights on that property ? Banks may not be more equal than others in the eyes of law, but they are not less equal either.

    As for interests of banks vs home owners, judges have to follow the law, irrespective of where their personal feelings and sympathies lie.
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  • JP is delivering apartments but banks have no idea about it?

    Silly argument.

    I give you a better idea. Banks are FULLY aware of all the developments. But they don't have any legal right to interfere in registration process and in stopping sale of properties.
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  • From the buyers side any individual having a loan has to get an NOC from the bank to be able to register. No NOC - no registry. So suspect that most banks are accutely aware of what is going on.
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  • I think a similar NOC must be taken by the developer from the bank if the bank has underwritten any project (but I am not 100% sure about this)
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  • Pathetic points by pkgandhi.. Kuch bhi likhna hai for bashing... My office colleague had yesterday obtained NOC from ICICI bank, (have read NOC myself) for getting registry done...
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  • Originally Posted by dineshsays
    From the buyers side any individual having a loan has to get an NOC from the bank to be able to register. No NOC - no registry. So suspect that most banks are accutely aware of what is going on.

    I am sure the NOC is taken from the bank giving the loan on the flat, not the bank that has given working capital loan against the land. In any case, I have already said registry does create rights for the buyer as well, but that doesn't mean the lenders left high and dry have no legal recourse at all. I don't understand the nuances of the law well enough to be able to say which way the decision will be made ( probably in favor of home buyers), but banks certainly have a case to at least put in front of courts, if not against buyers then against bankruptcy estate or NA which should not have allowed registry on land that was mortgaged.
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  • Originally Posted by pkgandhi
    I am sure the NOC is taken from the bank giving the loan on the flat, not the bank that has given working capital loan against the land. In any case, I have already said registry does create rights for the buyer as well, but that doesn't mean the lenders left high and dry have no legal recourse at all. I don't understand the nuances of the law well enough to be able to say which way the decision will be made ( probably in favor of home buyers), but banks certainly have a case to at least put in front of courts, if not against buyers then against bankruptcy estate or NA which should not have allowed registry on land that was mortgaged.

    No Sir you are wrong. HDFC bank mortgaged Kalypso Court from Jaypee and have issued NOC to buyers to register.
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  • Originally Posted by dineshsays
    No Sir you are wrong. HDFC bank mortgaged Kalypso Court from Jaypee and have issued NOC to buyers to register.

    Thank you for clarifying. I wonder if the retail loan department talks of corporate loan department. Does the NOC make any mention of the loan HDFC Bank has given to Jaypee or just the loan given to customer ? Where can one find the list of which project is mortgaged to which bank, please ?

    If someone has taken a loan from ICICI for Kalypso, does HDFC give a NOC for that property as well ?
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  • And so far at least I have never heard any bank not issuing an Noc for any JP project including Greater Noida - unless there was an issue between the bank and individual (case of default or late payment etc)
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  • Originally Posted by dineshsays
    No Sir you are wrong. HDFC bank mortgaged Kalypso Court from Jaypee and have issued NOC to buyers to register.


    It may be possible that JP have fraudulently procured the approval from HDFC to register the apartment or mortgaged it to a 2nd and subsequently 3rd bank after getting the approval from HDFC to register.

    In fact I can pretty much guarantee that HDFC management does not know that their officials have given the go ahead to register Kalypso court. In addition, I have also come to know from reliable sources that JP has mortgaged Kalypso court to 2 other banks by mortgaging photo copied land documents. ( I will not share the names of the banks for obvious reasons but you must all understand that you are SCREWED!!!!!!

    To be taken with a pinch of salt. These are the kind of arguments on the forum these days.
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  • For a second I thought it was pkgandhi; again with another of his FACT-FILLED posts
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  • Lol
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  • If Banks really had the leverage over land. All they need to do is to write to NA asking for stopping the registration process.

    Any stake holder can stop the registration process of property in question.

    My point has always been that Banks have no authority over private property. That's why they have not interfered in allotment and registration of properties.

    I have already said registry does create rights for the buyer as well, but that doesn't mean the lenders left high and dry have no legal recourse at all.


    Any legal rights of stake holders in a property are CLEARLY mentioned in Conveyance deed.

    Mr Dinesh, do you have any clause in your conveyance deed that ICICI Bank reserve the right to exercise any control over your property? I am sure NOT.

    So Mr Gandhi,

    I acknowledge your concern about WT. Doubts over completion of projects. Maintenance and Internal Infrastructure. Banks power to seize UNSOLD and UNALLOTTED land. These are real problems.

    But you saying that Banks can seize private property of home owners. This is just too far fetched and preposterous argument.
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  • Originally Posted by Poddarvaib
    It may be possible that JP have fraudulently procured the approval from HDFC to register the apartment or mortgaged it to a 2nd and subsequently 3rd bank after getting the approval from HDFC to register.

    In fact I can pretty much guarantee that HDFC management does not know that their officials have given the go ahead to register Kalypso court. In addition, I have also come to know from reliable sources that JP has mortgaged Kalypso court to 2 other banks by mortgaging photo copied land documents. ( I will not share the names of the banks for obvious reasons but you must all understand that you are SCREWED!!!!!!

    To be taken with a pinch of salt. These are the kind of arguments on the forum these days.


    Actually loan sell offs are fairly common, so it is possible HDFC bank has transferred credit risk of kalypso loan to someone else. And it is also common for the same asset to secure multiple loans ( legality has never really been tested in a court of law). So, apart from allegations of outright fraud, your scenarios are not that far fetched.
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  • Anything can be possible, there might be an earthquake in India only ...just now and everyone dies and the one who survives becomes PM of India...buy this ...would love to argue.. LOL
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