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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

    40K crores for F1 - are you sure??

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    • Re : Jaypee Greens Wishtown, Noida

      it's 400 cr not 40 K . Their plan failed due to various reason inlcuding mentioned above. Change in political situation in UP didn't help any way.

      Economic condition of last 4-5 yrs also didn't help. Debt kept increaseing and they don't have money to complete the project which should have been priority as maintainance would be a better source of income than F1.

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by vicky1977 View Post
        it's 400 cr not 40 K . Their plan failed due to various reason inlcuding mentioned above. Change in political situation in UP didn't help any way.

        Economic condition of last 4-5 yrs also didn't help. Debt kept increaseing and they don't have money to complete the project which should have been priority as maintainance would be a better source of income than F1.
        I don't think a mere 400cr can hit so hard to jaypee associates whose annual turn over is over 12000 cr. Btw figure is more than 400cr, may be around 1500cr. May be 2015 F1 events may compensate few crores.

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by gareeb das View Post
          Jaypee Wishtown: Causes of failures -

          1. F1 track - Jaypee invested Rs 40K + crores; which largely came from wish-town. This amount is 10 times more than the cost required for completing the wish-town project. Now Jaypee not getting any income from F1; not even its maintenance cost. So they lost everything in F1.

          2. Poor Vision: F1 track failed to hype the property market along Yamuna expressway. Jaypee having huge land-banks across Y-eway; all their plans fell flat.

          3. Ill fate: Jaypee's customers have cursed them from heart. Jaypee group's overall downfall started from 2012; when people started to feel the pain & started agitating. They have played with the feelings of thousands of end-users. Some delays are normal, but Jaypee;s case is beyond abnormals.

          4. Poor Intentions: Jaypee's intentions for wish-town started becoming doubtful 2012 onwards. Now they don;t have money to do anything; even if they want to correct themselves.

          5. Poor Management: Jaypee's management (especially for Wishtown) never looked confident to handle such a huge project. They swallowed much more than what they can chew. In 2012, they hired a foreigner guy as project manager; who had a good experience to manage such projects. Seeing the inside mess & poor intentions; he ran away in 6 months. Handling such huge project requires great skills & commitment. Jaypee lack both. They not only messed their own life's, but of their customers as well.

          Even if Jaypee's well-wishers keep trying to create a positive image for Jaypee's projects for some reasons, its not really going to change anything on grounds. Facts are facts.
          If we go by your point of view, Jaypee management should not be spending time and money on Pavilion heights/ Court wherein in this year atleast some towers were handed over. Additionally, though slow but spending time and money on Kaypso & Imperial Court too. All these finsihing works take more money than what they buyers will pay at possession, these guys should run away rather than trying it (even slowly)?

          Surely they are screwed as they are not organised and still in different world, as they do not see what they are loosing by such delays, but is it not linked to realty market slow down. I mean they could gain more by finishing these projects once market is picking up, as it will help them to build repo (if we believe tnew custoemrs would come) "or" sell existing inventories, which probably they do not gain as of now in dull market.
          Late penalties, all our builders know as how to adjust against increase in Super area, so may be not so big concern to them also.
          Rest it point of view, and only time will tell....

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by vicky1977 View Post
            it's 400 cr not 40 K . Their plan failed due to various reason inlcuding mentioned above. Change in political situation in UP didn't help any way.

            Economic condition of last 4-5 yrs also didn't help. Debt kept increaseing and they don't have money to complete the project which should have been priority as maintainance would be a better source of income than F1.
            Exact figures are appx Rs 12000 crores.

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            • Re : Jaypee Greens Wishtown, Noida

              12k Cr to build a track and stadium - are u kidding bro

              12k cr was what they spent on building entire YEW

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              • Re : Jaypee Greens Wishtown, Noida

                They should have rather built a cricket stadium..

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                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by bond2014 View Post
                  They should have rather built a cricket stadium..
                  100%....that should have been done first. They are constructing it now at JP speed

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                  • Re : Jaypee Greens Wishtown, Noida

                    I think the whole concept and planning of sports city was flawed as afar as land use in the town planning was concerned.

                    They allocated (or at least sold initially) way too much land for petty sized housing when the focus should have been for commercial and institutional development. Residential could have been large sized farmhouses or leasure use.

                    I had said it then and will say now, they have a completely skewed strategy (I wonder there was any any all). Short term agenda meant they just pushed the broker's selling 2/3 BHK apartments and 100 yards plotting. No wonder it's turned into a mess both for them and the gullible (shall I say greedy) investors.

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                    • Re : Jaypee Greens Wishtown, Noida

                      Jaiprakash Associates: Credit Analysis & Research(CARE) has downgraded the long-term and short-term bank facilities of the company by one notch to BBB-/A3. This is the second downgrade in two months. Earlier in the month of November CARE had downgraded its bank facilities by one notch. Its rating is still 4 notches above the default grade.

                      Source: HDFC, JP Associates, Crompton Greaves in Focus Today - NDTVProfit.com

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