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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: 1 week ago
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  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by nitinitin View Post
    Kosmos and Klassic towers seems to have accerelated quite a lot in last 5-6 months..I am coming from the perspective of following my own unit in PH2 tower, which started first coat of paint and other things a year back and still doesnt look ready in totality.

    Now I just hope that NGT thing is out of way and we should see a final notification in couple of weeks. Post that assuming JP is dead serious for delivery all these towers across projects should get an OC by Feb or March...

    AS FAR AS NGT IN CONCERNED PLEASE CONSIDER IT RESOLVED AND EVEN BASE YOUR DECISIONS ON THAT before others realize this opportunity. An upside is guaranteed as soon this news hits the larger audience.

    You can hold me on this wait for early next year.
    Last edited December 12 2014, 09:00 PM.

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by Venkytalks View Post
      For anyone who miscalculated his outgo of rent plus EMI or really planned to move in quickly and cannot sustain this much delay they can go for this.

      They can be made to give compound interest of 12% with a bit of threats from lawyer since your home loan is compound interest.

      If you go to court it will be 18% compound. So it is a good compromise by JP to give 12% compound. Also good for buyer because no 3 year delay and no lawyer fees for Lucknow.

      But please note

      1. They will cut 10% TDS and you will have to pay remaining 20% also.

      2. If on loan this will barely clear out your loan repayments. You will get nothing in hand and will probably lose a small 1 or 2%. The interest paid by JP will go as interest to bank only. You get nothing.

      3. If on own money this is a poor option with post tax return of 8%. Only projects for which this exit option exists are sitting on about 10 to 12% compound interest return on CLP payment even after recent price fall of Kosmos to 3600 bsp. Waiting for 1 to 2 years makes better sense. Around 15% compound interest is expected long term after delivery. Less than 15% is impossible. More to about 18% is possible though not probable.

      4. Application to adjust next payment against compensation is another strategy. They are likely to grant on individual basis. Again meant only for those in real trouble and who are ready to threaten legal action with stopping all future payments with lawyer support. Will gain you some 1 lakh (immediately instead of later since its your money anyway with lawyer taking 20000).

      I had seriously evaluated both options. But selling in the market made better sense.

      In any case i had written on IREF for Kosmos and Klassic as value buys recently.

      Buying time is never selling time. So waiting it out is best option.
      Thanks for the calculations -

      Just reiterating the same thing I said earlier about cancellations, I have already actioned what you have been saying but its of no use, with lawyer, without lawyer doesn't make a difference to the management.

      The new angle that Dinesh has brought in may only apply to sector 128 but let me check my application form for sector 129. I do have the copy I signed.

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by Aviral79 View Post
        Thanks for the calculations -

        Just reiterating the same thing I said earlier about cancellations, I have already actioned what you have been saying but its of no use, with lawyer, without lawyer doesn't make a difference to the management.

        The new angle that Dinesh has brought in may only apply to sector 128 but let me check my application form for sector 129. I do have the copy I signed.
        Its same in case of both jal n jp infra

        Both have dis clause

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by dhinkachika View Post
          Its same in case of both jal n jp infra

          Both have dis clause

          The last line - requests the Company to cancel the Allotment in his favour, the Company may permit such cancellation on the terms and conditions as the Company may deem fit.

          So this is as per management discretion... as far I know there are several approved pending for funds dispersion but it isn't happening..... forget about new cases.... TRY it if someone can. So really... legal is only way to get your money out if you want to..

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by Aviral79 View Post
            The last line - requests the Company to cancel the Allotment in his favour, the Company may permit such cancellation on the terms and conditions as the Company may deem fit.

            So this is as per management discretion... as far I know there are several approved pending for funds dispersion but it isn't happening..... forget about new cases.... TRY it if someone can. So really... legal is only way to get your money out if you want to..
            Aviral - dont think you are reading this right. That is an independent point i.e. if you want to cancel the allotment for any OTHER reason (besides delay) - then ONLY the company MAY permit etc etc. The first clause is independent and they dont write it MAY choose to cancel etc etc, I dont think the rider you've highlighted is applicable in case of delays

            I am re-posting the 2 sub-clauses. Thoughts?

            Also, I am unsure - you earlier said this is impossible (refunds with interests) and also state in above post this is pending in some cases. I dont doubt what you say (whatsoever) but could you give further clarity if you know the exact situation
            Attached Files
            Last edited December 13 2014, 11:47 AM.

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by dineshsays View Post
              Aviral - dont think you are reading this right. That is an independent point i.e. if you want to cancel the allotment for any OTHER reason (besides delay) - then ONLY the company MAY permit etc etc. The first clause is independent and they dont write it MAY choose to cancel etc etc, I dont think the rider you've highlighted is applicable in case of delays

              I am re-posting the 2 sub-clauses. Thoughts?

              Also, I am unsure - you earlier said this is impossible (refunds with interests) and also state in above post this is pending in some cases. I dont doubt what you say (whatsoever) but could you give further clarity if you know the exact situation

              Yup, had just read the point the second point that you posted earlier and missed the first. Nevertheless these guys are not doing it..... That much I know .... Hv been banging my head against walls for past few months. May be The approved cases are of pre cdr era... When jaypee was able to fund and service its interest on loans... Not any more .... After corporate debt restructuring it is evident that funds are tight. This is practical situatIon I am telling

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              • Re : Jaypee Greens Wishtown, Noida

                JP has defaulted on its fixed deposits.

                News flash on business channel just now
                Venky (Please read watch a or before posting)

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                • Re : Jaypee Greens Wishtown, Noida

                  seems JP is screwed big time.
                  Originally posted by Venkytalks View Post
                  JP has defaulted on its fixed deposits.

                  News flash on business channel just now

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                  • Re : Jaypee Greens Wishtown, Noida

                    Jaypee is now a sinking ship.

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                    • Re : Jaypee Greens Wishtown, Noida

                      Statement from JP on this. I think cash flow is a big concern until atleast some money comes from the JSW deal. They just need to keep selling without ego on high pricing:

                      Jaiprakash Associates Limited has vide its letter inter-alia stated,"Keeping in view the provisions of the new Companies Act, we have stopped accepting fresh deposits wef 1.4.2014. The Company has been honouring its obligations to repay the FDs as and when they became due. Minor delays, if any, should not be construed otherwise by any of the investors. The Company has maintained its creditworthiness with all its lenders and investors and is committed to do so in future as well. We are issuing the above clarification in public interest and in response to a ticker that we understand was on air on one of the TV channels on 15.12.2014."

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