What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

Cheers! :)
Read more
Reply
7937 Replies
Sort by :Filter by :
  • Originally Posted by ramkbokaro
    What is there to challenge? Jaypee will have to pay!!!

    All NCRDC judgements can be challenged in SC, and the past precedence is that the courts grant relief. Pls see Unitech case. The battle is long and arduous, this is just the start.
    CommentQuote
  • Originally Posted by pkgandhi
    JP group story is fairly simple. They borrowed money from banks ( at around 10%) and effectively borrowed from contractors ( at 0%) and customers ( at rs 5/sqft). They gambled this borrowed money on the bet that Indian economy will grow at double digits, they and their political partners will be able to muscle development around Noida and property prices would zoom. I think they had honest intentions, but the gamble failed badly.

    Now the situation is such that everyone who lent to them wants their money/delivery of flats, but JP simply has run out of money and is not in a situation to fulfill their commitments to any of their stakeholders, not because they are cheats but simply because they have no cash ( money that has been taken out of the company by promoters through dividends etc. will not come back). Basically, the story can be summed up by the hindi proverb , "ek anaar sau bimaar". In this background, court awarding damages to customers makes JP's precarious situation even worse ( though I do congratulate in advance those who are actually able to receive these damages). This increases the likelihood that lenders will now force a bankruptcy sooner rather than later ( once bankruptcy is declared, claims of lenders will become senior-most in the resolution hierarchy).

    Well summarised, one key difference, the other builders used the money from the buyers to buy additional land banks and JP used the money in their businesses and to take out as dividends. Would be interesting to see the dividends paid by JP companies over the years. It is also possible the money was used to pay to shell and dummy companies for work done.
    CommentQuote
  • Originally Posted by ramkbokaro
    But there has to be valid ground for stay, isn't? Honestly I didn't know unitech has took stay order ..I wonder based on what ground SC provided stay

    Although I am really happy with a 5 month judgement (especially in my own apartments) and it vindicates my stand in going to NCDRC - In my mind the Unitech case judgement at SC is really vital as it will set all kinds of precedents - basis which the entire canvas of Indian RE will be set.

    Ground for stay is - NCDRC is acting beyond its ambit and acting on principles of 'fairness' rather than passing judgements on breach of contract. Builders POV is hey - we said we will pay late fee - so we will pay late fee. That's the builders POV - very unfortunately it must have some merit as the Unitech case is in SC for a year now.

    NCDRC now has a lot of case references and judgements will be passed thick and fast - no worries there (unless SC revokes the decision)

    The SC judgement now is key.

    Anyone having some more insights to this aspect - please add in.

    --
    Ps someone had said even Lotus Boulevard group had won the case if anyone can confirm
    CommentQuote
  • Originally Posted by zohaib2012
    Advice for Jaypee protestors.....

    Dont waste your time protesting in areas where they dont even bother...choose your venues properly

    A businessman will ONLY listen once he feels his business is getting HIT...

    Target the venues where he is minting money ...and in projects where he used your money for his "DREAMS"

    Jaypee hospital
    Jaypee hotels
    Jaypee F1 tracks when an event taking place

    Use your strength wisely....no point protesting in a Nirman bhavan which he doesnt even own anymore...or some project site which looks like an abandoned city

    I think they protested outside the main campus (where S&M) sits and there are a lot of people about - they wanted to get the Gaurs to speak so not too many options for the protestors.

    I def agree with you that the venue has to be chosen carefully and media coverage has to be there.

    My viewpoint is that more stress has to be given to logging well researched cases in NCDRC
    CommentQuote
  • Originally Posted by Bharatiya
    Read the article. Its already mentioned. NCDRC ordered Unitech to pay 12% Penalty. But Unitech took stay order against NCDRC decision in SC. JP will do the same thing.

    Kalypso launched in 2007. Was supposed to be completed by 2011. Looking at present status, it won't be complete even by 2020. Most towers are still incomplete and JP's financial situation is bad.

    I think 2020 is off. Pending 6-7 towers will be ready by 2018. I am telling you from watching progress on a daily basis now. All towers are ready with internal walls done. But I've been wrong before so can't say this with 100% conviction.

    Lot of money is made by builder during handover also (with their 10% area increase especially)
    CommentQuote
  • Originally Posted by dineshsays
    I think they protested outside the main campus (where S&M) sits and there are a lot of people about - they wanted to get the Gaurs to speak so not too many options for the protestors.

    I def agree with you that the venue has to be chosen carefully and media coverage has to be there.

    My viewpoint is that more stress has to be given to logging well researched cases in NCDRC




    The route of law is not connected to protests

    Many lawyers would suggest against them also..as jaypee can file defamation case also

    I know the pulse of businessmen.....they will ONLY listen once they know the business is getting effected

    Jaypee RE business is flop anyways....but his other ventures should not be spared

    Look how amarapali saphhire guys out of box thinking got media involved


    Jaypee IS STILL A BRAND in hotel industry, recreation (golf, etc) and now also Healthcare

    Infact Healthcare is what they are seriously looking at.....

    Protestors instead of hitting a dead donkey should Hit the Winning Horses of jaypee

    Enjoy
    CommentQuote
  • Originally Posted by ramkbokaro
    What is there to challenge? Jaypee will have to pay!!!


    the same article quoted a similar ruling against Unitech which got stayed by Supreme Court later, So, any thing can happen.

    If JP had money, they would have focused on completing the projects. From where they will get the money to pay...they will possibly adjust this in the final settlement which such a day comes.
    CommentQuote
  • I still don't think people on this forum get it - Jaypee has plenty of other assets - they need to sell faster and sell depressed. It is cash flow which is a problem.

    Anyone refuting this - please give a count of their assets and put a valuation against it.
    CommentQuote
  • CommentQuote
  • Link to judgement
    CommentQuote
  • Can anyone share cost involved in fighting a case in consumer court .

    I had fought a case approx 10 years back against a leading multinational bank (& won), the cost involved that time was max. 10k.

    This amount was for entire duration of the case approx 12-15 months.
    CommentQuote
  • Originally Posted by zohaib2012
    The route of law is not connected to protests

    Many lawyers would suggest against them also..as jaypee can file defamation case also

    I know the pulse of businessmen.....they will ONLY listen once they know the business is getting effected

    Jaypee RE business is flop anyways....but his other ventures should not be spared

    Look how amarapali saphhire guys out of box thinking got media involved


    Jaypee IS STILL A BRAND in hotel industry, recreation (golf, etc) and now also Healthcare

    Infact Healthcare is what they are seriously looking at.....

    Protestors instead of hitting a dead donkey should Hit the Winning Horses of jaypee

    Enjoy


    zohaib sir,

    Gaurs still have plenty of businesses that are not yet a flop, but they have also been smart enough to move them to separate companies that might possibly survive when the RE house of cards comes down. Unless one can prove that money was taken out of RE business illegally, JP investors will not have recourse to private assets of the Gaurs.

    As I have been saying, lawyers are going to a make a killing in the whole situation.
    CommentQuote
  • Originally Posted by bhuwan
    Can anyone share cost involved in fighting a case in consumer court .
    I had fought a case approx 10 years back against a leading multinational bank (& won), the cost involved that time was max. 10k.
    This amount was for entire duration of the case approx 12-15 months.

    Mr bhuwan, the real issues arise when the consumer court judgement is appealed against and you have to go into the regular judicial system, where one might have to spend crores and it might take 12-15 years.
    CommentQuote
  • Originally Posted by dineshsays
    I think 2020 is off. Pending 6-7 towers will be ready by 2018. I am telling you from watching progress on a daily basis now. All towers are ready with internal walls done. But I've been wrong before so can't say this with 100% conviction.

    Lot of money is made by builder during handover also (with their 10% area increase especially)


    Dinesh mate,

    You paid money for club upfront and taken possession, now the club is not ready.

    so haven't you adjusted that club money payment(with interest) against your last set of payments like 5% pending amount and this 10% super area, I mean reading your post you seems to have stumbled on this point.

    Rahul
    CommentQuote
  • Regarding the club, Super Area increase, delays etc - I and a few people are logging a case in NCDRC.
    CommentQuote