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 vikas24
    @Mr. Gandhi .. once again thank you so much for all d information n suggestions you gave..
    @Mr. Anurag.. in case i get any deal around 4300 all incl den shall i go for it.. is it worth to buy any flat as an end user considering d present situation of Jaypee.. will they develop WT in next 4-5 years..dis is wat m concerned about.. please suggest.. however i hv seen nearby projects.. gulshan purvanchal are out of budget.. i didnt like ajnara, paras, logix, supertech.. however i really liked gulshan ikebana of sector 143.. but again it is really far.. so i decided to explore something in jaypee..

    looking forward to get some more vital information n suggestions from members.

    Mr Vikas, all private builders price based on a fake marketing concept called super area. Any rate quoted based on this fake concept is also fake. Like I said, what matters is the all-in cost you pay and how much living space and what kind of facilities/gentry you get for it. I feel in your budget ( 70 lakh plus), you will be get much superior options in societies like kendriya vihar/vivek vihar in sector 82 compared to JP/gulshan/ajnara/purvanchal etc. The construction is a bit old but these are low rise low density societies which have been inhabited for years, mostly by owners. The other downside is that these don't attract much investor interest as most people are end users, so in case you have to sell , it will take longer, but if you are an end user, that should not matter to you.

    If you have the time, definitely check at least these two societies out. You might find you can get much more value for your budget than you currently think.
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  • I have not seen bigger slugfest between people with less than half knowledge and even lesser information.

    Dineshsays it is clear from reading your posts that you don't have the required knowledge or skill to appreciate the gravity of situation @Jaypee.

    Pkgandhi you don't have enough information to analyse and come to proper conclusion. There are so many unwritten things in BS and agencies like credit suisse cannot be fully trusted. Bankruptcy laws in India are crap and banks would rather keep funding an NPA instead of resorting to liquidation to keep their interests alive. SARFEASI and DRT have failed spectacularly.

    Indian law permits dual ownership of land and building. So developer can mortgage land underneath and flat owner can mortgage flat. Nothing new in that. Wish Town is mortgaged. Banks have right to enter but they will not as it is counter productive to their interest. They don't get any money plus they will get responsibility to complete them and deliver to unitholders

    For those who have got possession rejoice, make reports and be happy.

    For us who will remain stuck in the project, allow us to sulk, consider and reconsider legal regulatory and financial position of Jaypee. It is not valid argument that 5500 people have got possession, rest also will surely get it.

    We are stuck in the devil and the deep sea. Jaypees finances are weak. Law is weak as well. Markets are weaker amongst all and we can't be out. Jaypee great land bank are burden on the BS and it is not easy to monetize them. Lets not fight amongst us. For those who are in celebratory mode, please get a room.
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  • Educate me bro - happy to read your POV and how things will unfold.
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  • I am glad to see that the people in this group are really very helpful. Within a day time i got a lot of informations regarding Jaypee n nearby projects. It wud really help me to find the right home for me. Thank you very much Mr. Dinesh. In near future i m looking forward to get more suggestions from you. I think that you have very in depth knowledge of Jaypee WT.

    @Mr. pkgandhi;.. thanks to you too.. actually i hv not explored anything in those societies. I will surely visit these places too.
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  • Originally Posted by MeinSonu
    I have not seen biggest slugfest between the people with less than half knowledge and even lesser information.

    Dineshsays it is clear from reading your posts that you dont have the required knowledge or skill to appreciate the gravity of situation @Jaypee.

    Pkgandhi you don't have enough information to analyse and come to proper conclusion. There are so many unwritten things in BS and agencies like credit suisse cannot be fully trusted. Bankruptcy laws in India are crap and banks would rather keep funding an NPA instead of resorting to liquidation to keep their interests alive

    For those who have got possession rejoice, make reports and be happy.

    For us who will remain stuck in the project, allow us to sulk, consider and reconsider legal regulatory and financial position of Jaypee. It is not valid argument that 5500 people have got possession, rest also will surely get it.

    We are stuck in the devil and the deep sea. Jaypees finances are weak. Law is weak as well. Lets not fight amongst us. For those who are in celebratory mode, please get a room.


    meinsonu sir, I have already said I don't have access to all of the information required to do a full analysis and if you read my earlier posts I have also remarked about the quality of people and analysis at CS . I have only projected possible scenarios and even qualified them by saying they might not be the most probable. I agree with you that bankruptcy laws in India are crap. However, sir, if you are following the news, the liquidation process has already started , so I am not sure if the process of continuing to fund NPAs will last for very long. Formal bankruptcy might not be declared or might be delayed to protect the interests of certain lenders ( ICICI and sarkari banks) vs others ( FCCB holders and even unsecured creditors like customers( if formal bankruptcy is declared will any customer continue to pay)). Again this is educated guesswork, but given the lack of transparency, that is the most a layman like me can do.

    If you have more information than me to analyze and come to proper conclusion , please do share the information and also the conclusion.

    And sir if the celebratory mode reference is directed towards me, I can assure you I am heavily invested in Noida and my investment portfolio is positively correlated with Wishtown outcome. I just find it difficult to let pass bizarre statements like ICICI will buy Nirman Sadan; that JP being forced to liquidate assets below book value is a positive for JP Wishtown customers; and that JP defaulting even on a 30 crore interest payment is not a big deal.
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  • Originally Posted by dineshsays
    Educate me bro - happy to read your POV and how things will unfold.


    Do you really think it is even remotely possible to predict the future? I bet I understand laws and some systems of banking but I am not such great expert to predict with certainty how things will unfold for us.

    All i am asking is that allow people like us to sulk and live with bated breadth until we get our possession.
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  • By all means bro sulk or go to consumer court (I would advocate the latter) it is entirely your wish.

    I didn't realise that I was stopping you from doing so.
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  • Originally Posted by vikas24
    I am glad to see that the people in this group are really very helpful. Within a day time i got a lot of informations regarding Jaypee n nearby projects. It wud really help me to find the right home for me. Thank you very much Mr. Dinesh. In near future i m looking forward to get more suggestions from you. I think that you have very in depth knowledge of Jaypee WT.

    @Mr. pkgandhi;.. thanks to you too.. actually i hv not explored anything in those societies. I will surely visit these places too.


    Good luck Mr Vikas, I have actually not visited those societies in a while, though I am quite confident you will still find something within your budget there. If you wish to share your findings after your visit, I will definitely be interested to hear what the situation in those societies is like these days ( I believe a big bus terminal and one of the proposed metro stations is close by, but not sure of exact locations).
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  • Originally Posted by dineshsays
    By all means bro sulk or go to consumer court (I would advocate the latter) it is entirely your wish.

    I didn't realise that I was stopping you from doing so.


    Bro that we are doing. Complaint is getting filed soon. In any event, how law unfolds in India is no rocket science and everyone understand that. So telling us to go and file complaint is vulgar especially when you have got your possession. No one is looking for sympathy or assurance here. People are just vending their frustration out.
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  • If things don't improve, some members are going to get suspended/banned from this thread .

    Members, please note -

    Flaming, insulting, rude, harassing posts towards members not allowed .

    If you don't like others opinion..SIMPLY MOVE ON .

    If anyone is found getting involved in bickering, one-upmanship hereafter, face the consequences .



    Insults/Flaming

    IREF was put together for people to come together and help each other, collaborate and discuss in a positive way – not bash on someone because you don't like their idea, or because they don't share the same views as you. We are big into the free speech idea here. So you're free to say what you think – but do it in a constructive and positive way. We encourage mature debates – discourage childish arguments. Personal attacks, insults, rudeness, racism, threats, name calling or unnecessarily inflammatory posts will NOT be tolerated. Common courtesy, politeness and respect for fellow members, along with constructive posting of opinions are essential in preventing posts from being edited and/or deleted, or having threads locked. Whilst we encourage healthy disagreement/debate, please maintain respect towards fellow members at all times.
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  • Originally Posted by MeinSonu
    Bro that we are doing. Complaint is getting filed soon. In any event, how law unfolds in India is no rocket science and everyone understand that. So telling us to go and file complaint is vulgar especially when you have got your possession. No one is looking for sympathy or assurance here. People are just vending their frustration out.


    Not to mention only builder tells its customer to go to hell or go to court. Well it doesn't matter. Both have similar effect on common men's life
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  • Originally Posted by pkgandhi
    meinsonu sir, I have already said I don't have access to all of the information required to do a full analysis and if you read my earlier posts I have also remarked about the quality of people and analysis at CS . I have only projected possible scenarios and even qualified them by saying they might not be the most probable. I agree with you that bankruptcy laws in India are crap. However, sir, if you are following the news, the liquidation process has already started , so I am not sure if the process of continuing to fund NPAs will last for very long. Formal bankruptcy might not be declared or might be delayed to protect the interests of certain lenders ( ICICI and sarkari banks) vs others ( FCCB holders and even unsecured creditors like customers( if formal bankruptcy is declared will any customer continue to pay)). Again this is educated guesswork, but given the lack of transparency, that is the most a layman like me can do.

    If you have more information than me to analyze and come to proper conclusion , please do share the information and also the conclusion.

    And sir if the celebratory mode reference is directed towards me, I can assure you I am heavily invested in Noida and my investment portfolio is positively correlated with Wishtown outcome. I just find it difficult to let pass bizarre statements like ICICI will buy Nirman Sadan; that JP being forced to liquidate assets below book value is a positive for JP Wishtown customers; and that JP defaulting even on a 30 crore interest payment is not a big deal.


    No sir liquidation processes don't start like that. It takes minimum 2 years just to admit liquidation in court. Even in financing and loan documents merely filing of winding up petition is not considered as initiation of liquidation.
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  • Originally Posted by MeinSonu
    No sir liquidation processes don't start like that. It takes minimum 2 years just to admit liquidation in court. Even in financing and loan documents merely filing of winding up petition is not considered as initiation of liquidation.


    Sir, by liquidation I meant converting illiquid assets into liquid ( sale or rather debt swap of cement assets and takeover , to be followed by sale, of Nirman Sadan and land banks), not formal liquidation of the company. I did say formal bankruptcy may not be declared and conjectured on the reasons why, but I apologise for being imprecise and causing confusion.

    PS: Manoja sir, I hope you will excuse this technical exchange with meinsonu sir, who clearly seems to have a great deal of technical expertise on this subject and has made me look like an amateur.
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  • Originally Posted by MeinSonu
    Bro that we are doing. Complaint is getting filed soon. In any event, how law unfolds in India is no rocket science and everyone understand that. So telling us to go and file complaint is vulgar especially when you have got your possession. No one is looking for sympathy or assurance here. People are just vending their frustration out.


    I really don't understand this - I have no issues in what you do or how you do it. It is an Internet forum where views on a topic is discussed. I have been presenting certain viewpoints - you said they are not accurate - I said fine, let me know what is correct, you said you yourself don't know and need space to sulk to which I said go right ahead. I have never stopped anyone.

    Filing a complaint is the RIGHT thing to do. My having possession does not change the viewpoint. And I fail to see how it makes things vulgar.

    I still don't understand what you are upset about.

    Vent your frustration - go ahead again by all means - within the purview of forum rules - who am I to stop you.

    I don't know why we can't talk about content and issues and attack people without basis.
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  • Originally Posted by dineshsays
    I really don't understand this - I have no issues in what you do or how you do it. It is an Internet forum where views on a topic is discussed. I have been presenting certain viewpoints - you said they are not accurate - I said fine, let me know what is correct, you said you yourself don't know and need space to sulk to which I said go right ahead. I have never stopped anyone.

    Filing a complaint is the RIGHT thing to do. My having possession does not change the viewpoint. And I fail to see how it makes things vulgar.

    I still don't understand what you are upset about.

    Vent your frustration - go ahead again by all means - within the purview of forum rules - who am I to stop you.

    I don't know why we can't talk about content and issues and attack people without basis.


    Don't get me wrong as i am not intending to attack you or anyone else. I didn't say filing complaint makes thing vulgar. On the contrary, I have said I myself am filing a complaint. I have said you suggesting to file complaint in every third post is vulgar because (a) we know we don't have a choice and (b) the whole process of litigating is painful.

    There is a difference between what I have said and what you have deciphered.

    But I will leave it at that. I have nothing more to say. I can't spend my life on this forum
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