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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: August 17 2020
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  • Re : Jaypee Greens Wishtown, Noida

    Most builders treat investors, brokers, end users, employees, partners and more often these days - brothers, sisters and parents with equal disdain.

    There is no honour among thieves.

    Jaypee has probably been the worst when it comes to investor management.

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by dineshsays View Post
      Venky - they (jaypee) cuts 10% of total project cost and gives the reduced money back after 0 interest. In case of Kasablanca that 10% is very stiff.

      Unfortunately as I understand a case is made after the delay period passes which for KB is still 2 years away and 'theoretically' they can still make it in this time. Yes I hv a email from them that dates have slipped quite a bit.

      Could anyone confirm this? And since this > 1 Cr - would this be addressed in national court?

      Any clarification would be helpful
      Have you asked this? Dont assume. Ask them.

      Second step is to threaten legal action and demand full money back with interest.

      Third step is file case citing delay. If amout mentioned on PAL is over 1 crore then yes national consumer forum in Delhi. You will get judgement in 3 years. You can file now and wait. Withdraw case if delivery suits you better at later date. Return of principal with 12% interest is almost assured.
      Venky (Please read watch a or before posting)

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      • Re : Jaypee Greens Wishtown, Noida

        Thanks Venky - I hv their full cancellation guidelines somewhere. Quite sure about the 'rules'. But Ive never actually asked.

        I dont mind putting a case with national forum save the piece aviral shared that since I hv another property in WT I would be treated as an investor and not a consumer. Do you know much about this?

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by dineshsays View Post
          Thanks Venky - I hv their full cancellation guidelines somewhere. Quite sure about the 'rules'. But Ive never actually asked.

          I dont mind putting a case with national forum save the piece aviral shared that since I hv another property in WT I would be treated as an investor and not a consumer. Do you know much about this?
          You are wrong.

          Don't assume anything without speaking to a lawyer.

          It appears you have never seen the proceedings in a court. I'm talking about a proper court and not the court you saw in that movie Jolly LLB.

          Buying one property for self use another in the same project for say rental income is not a crime. You might have bought one flat for your use and another for your parents or in-laws or your kids. Why would a judge in a court bother about that? Courts don't treat "investors" and "end-users" differently. I am speaking from experience.

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by ThePunjabi View Post
            You are wrong.

            Don't assume anything without speaking to a lawyer.

            It appears you have never seen the proceedings in a court. I'm talking about a proper court and not the court you saw in that movie Jolly LLB.

            Buying one property for self use another in the same project for say rental income is not a crime. You might have bought one flat for your use and another for your parents or in-laws or your kids. Why would a judge in a court bother about that? Courts don't treat "investors" and "end-users" differently. I am speaking from experience.
            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?

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by Venkytalks View Post
              Going legal = return of money with interest (12 or 18%).

              You can probably request it from the management and get it at 12% without any legal case
              Nothing of this sort is happening.... I am sure there will be long queue outside JP office to avail such an offer....

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              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by Quest2012 View Post
                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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                • Re : Jaypee Greens Wishtown, Noida

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

                    Originally posted by Quest2012 View Post
                    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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                    • Re : Jaypee Greens Wishtown, Noida

                      Originally posted by deeprupani View Post
                      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
                      Venky (Please read watch a or before posting)

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