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 t_yash
    MoM of KnightsCourt Buyers Association meeting with JP Sr. Management for the month of April 2016.

    Kudos to t_yash sir and team for exposing the reality of JP's claims.
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  • Originally Posted by kaka12
    Jaypee crossed all his limits.

    you tell me what is the option home buyer's now???

    Mr kaka12,

    I can understand the frustration of JP buyers who have been cheated ( certainly based on any ethical standard, if not a legal one). However, I will sincerely advice them not to take the law into their own hands. Right now, they have the moral high ground and public sympathy, but that will quickly disappear if they engage in any unsavoury behavior.
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  • Originally Posted by pkgandhi
    Mr bhuwan,

    I agree with you that the problem at JP is more of ability than intentions ( at least at this point- can't say about the past). However, you are forgetting about the most important actors in the story- JP's lenders, who are effectively in control of the company - so much so that JP doesn't even dare to appoint a consultant without their permission. It is utopian to believe that the banks will allow escrow account to be set up for specific projects and allow any obligation to have precedence over interest and principal repayments, where they already hold lien over assets and JP is in default.


    I agree banks will be hesitant, the question is can they REJECT such a proposal made by buyers association and say NO on paper.
    I doubt they can, they would need a firm technical ground to be able to do so.
    Jaypee accounts have still not been declared NPA, ys its stressed alright but banks are getting their share from asset sale and revenue generated from JP.
    Worth a try at least, more positives i believe.
    Scenario#1 -- If JP is able to survive next 3 yrs, buyer association saves time, we get early delivery.
    Scenario#2 -- If JP is not able to survive next 3 yrs, buyer association has utilized JP services (engineers, contractors, etc..) and all other established hard negotiated channels from sourcing material to labor and has taken the construction to pretty advanced stage.
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  • Originally Posted by MeinSonu
    Don't understand why post like this don't get deleted...moderators...looks to me clear case of personal attack


    Why? What did i write thats not true?
    The guy has made more than 450 posts - All in Jaypee threads in 2 months. Clearly he has nothing else to do. He calls it samaj Seva . I call it vella panti.

    I dont think i have written anything that is not evident. Elephant in the room
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  • After watching all those videos about Jaypee, I feel really sad for the buyers. They are stuck for no fault of theirs. But I have absolutely no sympathy for the investors. If it is your second or third property, it should be confiscated and given to the needy. So many people in India don't have a home but speculators are buying multiple properties and increasing the prices for everyone. These investors/speculators are the scum of the society and bring no value to the economy. haraam ki khaate hain.
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  • Originally Posted by youngmoney
    After watching all those videos about Jaypee, I feel really sad for the buyers. They are stuck for no fault of theirs. But I have absolutely no sympathy for the investors. If it is your second or third property, it should be confiscated and given to the needy. So many people in India don't have a home but speculators are buying multiple properties and increasing the prices for everyone. These investors/speculators are the scum of the society and bring no value to the economy. haraam ki khaate hain.


    Mr youngmoney,

    Firstly, what is wrong with being a speculator ? Speculation is an essential function in the economy which facilitates risk-taking and, by extension, innovation and progress ? It is the elixir without which all animal spirits would have died and mankind would still be in the Stone Age.

    Secondly, not everyone who owns more than one property is a short-term speculator. I have bought multiple properties for my retirement nest egg and not sold a single one. Except for the first one, I have funded them out of my hard-earned personal income, after having paid substantial tax on it. Before i made the investments, i assessed all the risk factors and don't have a problem if some investment becomes worthless because the investment thesis didn't play out as i expected, but how is it fair to people like me to simply confiscate our savings ? Will you also recommend doing the same for investments made in the stock market or FDs ?
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  • Originally Posted by youngmoney
    After watching all those videos about Jaypee, I feel really sad for the buyers. They are stuck for no fault of theirs. But I have absolutely no sympathy for the investors. If it is your second or third property, it should be confiscated and given to the needy. So many people in India don't have a home but speculators are buying multiple properties and increasing the prices for everyone. These investors/speculators are the scum of the society and bring no value to the economy. haraam ki khaate hain.


    What rubbish!!! What do you mean by haraam ki kamaai?? The investors are rewarded for the risk they undertake and the money they invest. With this corollary all investors whether PPF, or stocks or bonds are all being bred on so called haraam ki kamai.

    There is no difference in the rights of an end user or investor.
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  • Originally Posted by youngmoney
    After watching all those videos about Jaypee, I feel really sad for the buyers. They are stuck for no fault of theirs. But I have absolutely no sympathy for the investors. If it is your second or third property, it should be confiscated and given to the needy. So many people in India don't have a home but speculators are buying multiple properties and increasing the prices for everyone. These investors/speculators are the scum of the society and bring no value to the economy. haraam ki khaate hain.


    Its a open market bro, If you have MONEY at the right time you buy it (RE), when u buy it you take a RISK, if you get the delivery its a REWARD, if not you get DOOMED.

    There is no difference between a end user and a investor, both are spending their hard earned money.

    Even if you take out all investors from the market, real estate wont get cheaper. Builders create the blueprint of the project keeping in mind demand. Prices are lesser at launch because builder gets cash flow at 0% interest from buyers and investors.

    Every buyer / investor would have missed something very good at some point in time.

    You just wait for your opportunity when u have MONEY at the right time you will also buy RE. I hope u have it sooner than NEVER.

    Good Luck!!!!
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  • Originally Posted by bhuwan
    I agree banks will be hesitant, the question is can they REJECT such a proposal made by buyers association and say NO on paper.
    I doubt they can, they would need a firm technical ground to be able to do so.
    Jaypee accounts have still not been declared NPA, ys its stressed alright but banks are getting their share from asset sale and revenue generated from JP.
    Worth a try at least, more positives i believe.
    Scenario#1 -- If JP is able to survive next 3 yrs, buyer association saves time, we get early delivery.
    Scenario#2 -- If JP is not able to survive next 3 yrs, buyer association has utilized JP services (engineers, contractors, etc..) and all other established hard negotiated channels from sourcing material to labor and has taken the construction to pretty advanced stage.


    Mr bhuwan,

    I am sure banks will not give a NO in writing. However, I am sure you know that not saying no is very different from saying YES.

    The fact is that major decisions at JP are now not being made by Gaurs but by the lenders whose sole concern is getting back as much as of their loans back as possible, before a formal bankruptcy becomes inevitable. The so-called asset sales are in fact transfer of wealth from customers to banks. The best hope customers have of getting a sarkari subsidy ( indirect one) is to make sure banks continue to have heavy exposure to JP and the government is then forced to bail them out with public money ( please be sure that the government will never bail out any builder directly).

    Also, while there is still a debate whether JP group as a whole will be able to come out of this mess, even Mr Manoj Gaur has made it clear that they don't see much of a future for the group in real estate. It is extremely unlikely that JP will ever launch another RE project. As a result, they have no incentive to deliver a quality product and maintain their reputation ( probably already destroyed beyond redemption) as their existing customers are already stuck and they don't expect to have any future ones. So, if JP acts purely rationally, buyers stuck in under-construction properties should not expect anything more than the minimum JP can get away with it, even in the unlikely event that these projects do get delivered without some sort of a bailout.
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  • I agree with pkgandhi;" :

    Jaypee will not return to RE, reason:

    1) by working with honesty for decades they made money = x
    2) Now with what you have seen in the last half decade, they have made money = 1000 of x

    PS: by manipulation all the builders that are in news have made insane money, I would like to see their assets to be freezed and distributed like Sahara.

    Cheers, they have made money = 1000 of x

    PS: by manipulation all the builders that are in news have made insane money, I would like to see their assets to be freezed and distributed like Sahara.

    Cheers
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  • Originally Posted by pkgandhi
    Mr jollygood,

    JP management is absolutely incompetent that it can't pay off all its debt in a day and finish Wishtown in weeks despite sitting on top of such a goldmine of assets. In the next AGM, JP shareholders should fire the Gaurs and Mr Ajit Kumar and replace them with the resident experts from IREF who will solve all of JP's problems in a day.


    Jaypee buyers group will propose your name instead up Mr ajit kumar on 30th apr meeting as you are the best critics of Jaypee.
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  • Originally Posted by rahulkumar12
    Jaypee buyers group will propose your name instead up Mr ajit kumar on 30th apr meeting as you are the best critics of Jaypee.

    Mr rahulkumar12,

    I do not live in India, so, unfortunately, the extent of my social service will have to be limited to online participation via this forum.
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  • Jaypee intention is not good. If he really want to complete remaining construction than as per me he can easily complete.


    Some of suggestion from me.

    1. He should remove 90% staff. All incompetent managers immediately without any delay. Manoj Gaur should daily visit site or sit in Noida office instaed of ajit kumar.
    2. He should put all his asset(even his own house etc...) on loan to government. Government should also provide him money at 0% interest to complete remaining construction. government should also provide him cheap labour. Main reason of not completing the construction is interest amount.... Only government can help here. Without government help remaining construction will not complete.
    3.



    Not sure why modi is still sleeping??? We know that UP government will not do anything for public interest.... no 1 nalayak minister of UP. Government always have money available for public......

    Government always get money from public and govt should spend this money only on public. problem is that here politicians use public money for personal use. Same Jaypee like builder take money from public and use that money for personal use and later declare thru his brokers and incompetent mangers that they have not any money.....

    If some one die in accident than government give 10 to 15 lakh to each family. Here 35,000 family is going to die due to big fraud by Jaypee and here government can safe the life of 35000 families ....


    Manoj Gaur should spread his hands in front of government for help.... He should put all his property on loan to government.....
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