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 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.

    .


    Mate,

    When they failed badly, they used this wealth and made insane wealth, like putting this money into I*L fixing(extremely positive for jaypee), or pumping money into booming business abroad or local, like:

    1) Ranbaxy folks(sardars) eaten money of a Japanese firm, so there could be a case with jaypee where some xyz company has eaten theirs, now this is a negative precedent

    2) or the other case where you put your money into some booming business like OYOROOMS, a foreign bank invested their money and this business is doing great, so this a positive precedent for that foreign bank, am sure this would be a case with jaypee, i mean they must have put their money in good profitable businesses.

    3) another negative precedent, like recently peppertab call it quits, so when these companies call it quits, they usually eat money of their investors by showcasing losses in their balance sheets, jaypee might have lost money in an example like this, This is a similar case like of peter+indranni mukherjea, again this precedent is negative.

    Cheers
    Rahul

    PS: people who are projecting that jaypee doesnt have money are fooling the people, I have said it before, they have siphoned off their funds, or in some cases made great money and in some cases lost money, jaypee itself are portraying that they don't have money, they are just basking under some quotes, be realistic and focus on basic principles.
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  • Originally Posted by pkgandhi
    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.


    Good God - one lie after the other. You have no idea what this is all about.

    After NCDRC - the only court of appeal (with valid reason) left for the builder is the Supreme Court. Which is NOT regular judicial system.

    You will not have to spend more than a few thousands and post the Unitech judgement - even these appeals will get thrown out most likely.

    12-15 years and Crores of Rupees post NCDRC judgements - Good God - you have any idea how things work.
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  • Originally Posted by dineshsays
    Regarding the club, Super Area increase, delays etc - I and a few people are logging a case in NCDRC.


    Well,

    you have registered a case that is fine but at the same time should have adjusted the clubs amount, I mean at least the money you have paid upfront for the club.

    PS: this would be small money for you but for jaypee if they do this with their n customers, lets say 100 customers, 100(customers) * 100,000(club upfront money) = so jaypee pockets 1 CR.

    I mean, I can literally visualize, various levels of money minting by jaypee and frankly If you ask me you have stumbled on this point.

    Rahul
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  • You think it is upto me to adjust the money :)
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  • Originally Posted by dineshsays
    You think it is upto me to adjust the money :)


    certainly not but did you try?

    PS: I would have tried by level best if I were you and would have clearly shown my displeasure to jaypee and later at the time of taking keys would have warned them clearly that i will go berserk against them on the social media against them.

    Rahul
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  • Originally Posted by dineshsays
    Good God - one lie after the other. You have no idea what this is all about.

    After NCDRC - the only court of appeal (with valid reason) left for the builder is the Supreme Court. Which is NOT regular judicial system.

    You will not have to spend more than a few thousands and post the Unitech judgement - even these appeals will get thrown out most likely.

    12-15 years and Crores of Rupees post NCDRC judgements - Good God - you have any idea how things work.


    SC works more like a lottery system. If they (Jaypee) are able to set foot into it and get appeal admitted. 12-15 years is the likely horizon if it goes into regular course.

    Jaypee is likely to cite its weaker financial position as an excuse to not being able to comply with the judgment. Lot depends on how it is handled by lawyers of association as how they play there cards. If the court wants to hear the matter, they will have two-three options. One they may ask for deposit of 50-100% of total compensation to be deposited in the court as condition to the hearing to the matter and some other favorable conditions like that. Two they might ask for expedited hearing, viz., hearing to be completed within 6-12 months time frame. Three, they have work hard on explaining comparatively poor financial condition of the resident really well (judges will empathize with it I am sure and that will help in getting either one or two or something like that).

    As of now, great victory by Kalypso folks!! Guys you rock!! You have made our lives a lot easier. thank you.

    Cheers!!
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  • Originally Posted by dineshsays
    Good God - one lie after the other. You have no idea what this is all about.

    After NCDRC - the only court of appeal (with valid reason) left for the builder is the Supreme Court. Which is NOT regular judicial system.

    You will not have to spend more than a few thousands and post the Unitech judgement - even these appeals will get thrown out most likely.

    12-15 years and Crores of Rupees post NCDRC judgements - Good God - you have any idea how things work.

    Mr dineshsays, once again you have exposed your utter ignorance of a technical subject you know nothing about but are happy to run your big mouth off on, throwing in personal insults at those whose intellect far exceeds yours for good measure. Please read the post by MeinSonu sir, who had some understanding of these matters to educate yourself.
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  • And btw, NCRDC is not the only consumer court in India.
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  • Originally Posted by pkgandhi
    Mr dineshsays, once again you have exposed your utter ignorance of a technical subject you know nothing about but are happy to run your big mouth off on, throwing in personal insults at those whose intellect far exceeds yours for good measure. Please read the post by MeinSonu sir, who had some understanding of these matters to educate yourself.


    pk you don't need to be this condescending and please don't use this kind of language. I don't post to show off. I have learnt a lot from Dineshsays, and I have nothing against him. At times I had difference of opinion with him and will continue to have that.

    For the record, I am not your supporter in the ridiculous war that is going on here.
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  • Originally Posted by MeinSonu
    pk you don't need to be this condescending and please don't use this kind of language. I don't post to show off. I have learnt a lot from Dineshsays, and I have nothing against him. At times I had difference of opinion with him and will continue to have that.

    For the record, I am not your supporter in the ridiculous war that is going on here.

    Meinsonu sir,

    I am not soliciting your support. I am only pointing out the facts to someone who has been nothing but rude and condescending to me and only a post ago accused me of being a liar.
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  • PK, I like your ploy of keeping the mods at bay. Showing respect. ( Meinsonu Sir, Digvijay sir, Manoja Sir etc etc).
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  • Originally Posted by Poddarvaib
    PK, I like your ploy of keeping the mods at bay. Showing respect. ( Meinsonu Sir, Digvijay sir, Manoja Sir etc etc).

    Mr Poddarvaib,

    As far as I know Digvijay sir and MeinSonu sir are not mods.If you have read all my posts, you would know I had requested Manoja sir to ban me. I do not have to employ any ploys to curry favors. In fact, if you can get me banned, I will be eternally grateful to you.


    When I started posting on the forum, I also addressed you and Mr dineshsays as sir. However, that honorific is now reserved for those who I truly respect on this forum on account of their intellect, knowledge, foresight, personality, etc.
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  • MeinSonu Bhai - I know you are way more knowledgable in this matter. But during preparing for a case our core association had asked how much time SC will take on appeal after NCDRC decision and the lawyer had cited that SC has improved drastically while dealing with cases and the pendency had improved a lot.

    If we just see this link http://www.livemint.com/Politics/960PSsufmphYSlzmkMvwPK/Supreme-Court-disposing-pending-cases-at-a-faster-rate.html

    While they are deciding 47000 cases every year the cases over 10 years are only 1200 or so - that is just 2% of pending cases (50000) and it is improving on a yearly basis.

    Also correct me - if a precedent is set on the Unitech case - (NCDRC ruled in favour of buyer, builder appealed to SC) - will the SC now not resolve these matters faster.

    Finally do you attest to PKGandhi's point that it will take crores to get justice - our lawyer was taking in mid k thousands.
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  • Since you are so keen on being banned permanently you very well have the option of restricting yourself from appearing on the forum. I am sure no one's holding a gun to your head and making you post.
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  • Definitely it is a great victory for the buyers in the NCDRC, but you cannot discount the fact that the builder will now go to the SC where the real money power comes in. They will engage the best lawyers and will delay this to the extent possible, using the huge pile up of cases to their advantage. Also the costs in SC are multiples times of those in the NCDRC. This and the delay works to the builder advantage.

    The best way out for the buyers is to bring pressure that the courts pass an overarching judgement to give relief to the buyers by making it mandatory for all builders to pay delay penalty * 18%, disallow super area increase and make it mandatory to deposit 50% to 100% of such costs before taking up the cases against NCDRC. But this is asking for the moon.
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