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
8001 Replies
Sort by :Filter by :
  • Banks stop funding Jaypee WT Noida - what are the options?

    HDFC stops any further payment to Jaypee WT projects from the home loan account! Heard other banks like ICICI and Axis doing the same. Request experts to suggest what's the way out and what could be the implications?

    Just to clarify again, this is already sanctioned home loan, Jaypee sent demand letter for a time-linked payment plan property to which HDFC refuse to make the payment!

    Look forward to your valuable input on this....
    CommentQuote
  • the straw that broke the camel's back
    CommentQuote
  • Originally Posted by bhuwan
    Post NCDRC judgement...Next step now Gaur's might want to wash their hands off their entire real estate portfolio.
    Wishtown's future looks very bleak. Promoter's don't seem to have any motivation to continue.




    The promoters NEVER had any motivation to continue...it was the best way to generate cash for their other projects where Gaurs have a lot of interest

    And ab to maal bik chuka.....what to expect from them now...?
    CommentQuote
  • Originally Posted by IPNoida

    But..india growth slowed. demand for cement, power slowed which lead to drop in cement prices by half. So Jaypee's business plan went bad.

    Does it matter to us Jaypee's problems? No. Therefore we should make groups and file cases and get our apt and plots developed.



    Sir, what does WT has to do with JP Power and cement business? Or you are trying to say that JP was siphoning of money from RE business like WT into failed ventures like Power and cement?

    But Sir, WT buyers gave money to JP to build houses, not to put that money in Power projects.

    And what do you mean cement prices dropping to half? Cement prices have not dropped by half. Cement prices are stable on long term trend (overall unchanged on last 5 years trend).

    Even otherwise, if prices of cement are falling, shouldn't it be beneficial for JP as cost of construction is reducing while home buyers have already paid FULL money for their house?
    CommentQuote
  • Yamuna Expressway masterplan gives raw deal to farmers?

    While the race track is expected to be ready by October this year, the first residential property will be completed in three years time, although many parts of it are already up for sale. The property here is being sold for Rs. 18,000 per square metre. Jaypee, however, had bought this land from the government at just about Rs. 350 more than the price the government had paid to the farmer for it. This means Jaypee is selling it for 18 times that price.
    18x profit and still not enough money?
    CommentQuote
  • Hi - not sure you are aware of the arrangement.

    Jaypee built the Yamanu eWay for an estimated cost of 12 thousand crore.

    The enterprise value of the eWay is 3 to 4 thousand crore according the toll collection estimated/ now real

    The balance was given by UP Govt as 5 parcels of 1000 acres to be developed

    So the notion that land was given free is incorrect

    However land has no underlying schemes with NA etc unlike other Noida builders.

    Lot of whom are defaulting
    CommentQuote
  • Originally Posted by Bharatiya


    And what do you mean cement prices dropping to half? Cement prices have not dropped by half. Cement prices are stable on long term trend (overall unchanged on last 5 years trend).



    This is called misinformed and negative energy. Come out of AC room and go talk to a local cement dealer. Ask him what was the price for cement bori in Jul 2012. What is the price right now? Fyi..Cement bori touched Rs 400 in Jul 2012 in Noida area and close to 340-360 was common and what is the price right now? This has wiped out huge profits cement companies made back in 2010-12 period. If prices goes down when input cost going up then you know things are not right.

    Shree Cement, UltraTech may gain as cement prices go up in February - The Economic Times on Mobile

    Of course Jaypee redirected money and every other group in India redirects revenue to other business where they expecting more growth. If other business goes down then it impacts all businesses. Jaypee business went down further as they focused only in Infra sector. Jaypee Management miscalculated the India growth story and burnt money.

    What matters now is have positive outlook and file legal case to get apt. Just harping and saying bad words nether going to help. Listening to people who did not even invest can be called foolishness.

    Imagine a so called scientist, who have multiple plots in Noida will have so much time to post daily multiple times how bad something is where he doesn't have any interest. If this doesn't ring bell then what will.

    So endusers. Avoid these people, ignore negative energy and with positive conviction go ahead and win legal cases to get your apt. Filling cases itself will make sure Jaypee focus on handover and look for some solution.
    CommentQuote
  • Originally Posted by IPNoida
    This is called misinformed and negative energy. Come out of AC room and go talk to a local cement dealer. Ask him what was the price for cement bori in Jul 2012. What is the price right now? Fyi..Cement bori touched Rs 400 in Jul 2012 in Noida area and close to 340-360 was common and what is the price right now? This has wiped out huge profits cement companies made back in 2010-12 period. If prices goes down when input cost going up then you know things are not right.



    Your rhetoric won't change the facts. Cement prices are almost unchanged in last 5 years nationally. Cement prices in India are only volatile in South, cities like Chennai.

    2012 - Average price of cement in India = 280-300/Bag, Price of Cement in UP inline with national trend

    2016 - Average price of cement in India = 285-290/Bag, Price of Cement in UP inline with national trend

    Union Budget 2012-13: Cement manufacturers announces price hikes between Rs 7-10 per bag - timesofindia-economictimes

    'Cement prices to rule firm in FY13' - Indian Express

    Cement prices decline 7.3% due to lack of demand in Dec | Business Standard News


    Regardless, i am not here to discuss cement prices. I have already talked about Solutions.

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/3268-jaypee-greens-wishtown-noida?p=2088452#post2088452

    I will give some more insight shortly.
    CommentQuote
  • Sir....if you want positive/ happy news....subscibe to builders newsletters...you will feel positive.

    Keeping an eye n builders financials is not an end users/investors job.

    The forum represents what is happening....which is a RE meltdown. People losing money/ home is not a positive thing for anyone...and you will feel it any forum which is public owned.

    An end user is not concerned about economy...he just needs a home...that he has/is paying for... what BS are you talking about?

    Arguing about cement prices....how is that an investor/end users concern?

    Originally Posted by IPNoida


    Condition is bad for almost all businesses currently. New central Govt could not do more than UPA except few areas. you are seeing long term investments going bad everywhere or looking bad currently.

    Now, what should we do as end user or small time investor? Wait for economy to get back on track. Investors anyway knows this and should look for 5-7years period. End-users immediately take legal action.

    I would not listen to negative people who just gives negative energy to everyone they meet. You must have avoided your neighbours who are always talking negativity for others so follow same in life including real estate. Look for positives and work towards solution. Investor-wait, end-users go to court, media etc to get apartment asap. But remain positive and stay with positive people. Apartment or small financial stress should not make us follow negativity which will pass to our life also including family.

    So stay positive, look for solution and avoid people who just spread negativity everywhere.

    Bura Sunoge to Bura Karoge.

    CommentQuote
  • Originally Posted by ranjaon
    Sir....if you want positive/ happy news....subscibe to builders newsletters...you will feel positive.

    Keeping an eye n builders financials is not an end users/investors job.

    The forum represents what is happening....which is a RE meltdown. People losing money/ home is not a positive thing for anyone...and you will feel it any forum which is public owned.

    An end user is not concerned about economy...he just needs a home...that he has/is paying for... what BS are you talking about?

    Arguing about cement prices....how is that an investor/end users concern?

    I assume you have already bought your house and now waiting for delivery. How does matter what is posted on this forum, do you think your builder reads this forum and then acts.

    Since the people are stuck, they are exchanging ideas and collating the info, so that they can use the knowledge to their advantage, if they should lodge a protest against the builder or go legal.

    So let the ideas and information flow unhindered, each can use his acumen to separate the wheat from the chaff. No one is being compelled to read each and every post.
    CommentQuote
  • Originally Posted by IPNoida


    Of course Jaypee redirected money and every other group in India redirects revenue to other business where they expecting more growth. If other business goes down then it impacts all businesses.


    IPNoida ji

    You got this completely wrong. Every conglomerate company invests profit from one venture into the other venture. No company has right to invest revenue from one venture into another venture. Profits and Revenue are different things.

    JP has right to invest profit earned from RE business to its venture in power sector. BUT, JP doesn't have right to put money of home buyers from RE business into failed power projects.

    If i give money to JP for an apartment, JP has no right to use my money to build a Hospital or F1 Track. JP should provide me my Apartment, whatever profits JP makes in sales, it has liberty to do use it however it wants.

    Revenue from JP RE to fund JP power/JP Sports is a FRAUD.

    Now coming to solutions. Keeping aside all the small details. There are 4 scenarios for home buyers.


    1. Trust JP that it will deliver on projects. JP is giving new deadlines every year. Tareek pe Tareek. Keep hope in deadlines and hopefully JP will deliver.....one day.

    2. Go to NCDRC for penalties on delayed projects. NCDRC may (or may not) award the penalties and compensation to home buyers for delayed projects. But JP will never pay it. Instead JP will challenge NCDRC decision in SC (or any other high court) and easily get the stay order. Same thing happened with Unitech.

    3. Wait for RE Regulator to come in force in next 2 years. Challenge JP in RERA Regulatory forum. RERA regulator may (or may not) award compensation to home buyers along with necessary penalties. Once again, JP can (and definitely will) challenge the RERA decision in SC (or any other high court) and get a stay order.

    From my understanding in scenario 2 and 3, you will ultimately have to fight in SC. So i recommend the 4th scenario.

    4. Don't wait for RERA. Don't go to NCDRC. First make an association of WT covering all projects. Gather as much home buyers you can get, specially those whose possession is long delayed where JP has only built super structure till date and rest of the work is stopped. Gather senior citizens. At least gather 500-600 such buyers. More the better.

    Then collectively file a Petition on SC about fraud and harassment by JP regarding all the delayed projects. Get a good lawyer and be prepared to fight for 4-5 years.

    You know about compensation and penalty clauses. But in your petition, you MUST ask SC to appoint an Arbirar to audit and liquidate all JP's unencumbered assets specially in RE sector. All the cash raised from liquidating these assets should be used to complete all pending apartments as well as paying for delay penalties.


    Such case in SC is a tiresome and time consuming. But its the only way to get your house from JP.
    CommentQuote
  • Originally Posted by ranjaon
    Sir....if you want positive/ happy news....subscibe to builders newsletters...you will feel positive.

    Keeping an eye n builders financials is not an end users/investors job.

    The forum represents what is happening....which is a RE meltdown. People losing money/ home is not a positive thing for anyone...and you will feel it any forum which is public owned.

    An end user is not concerned about economy...he just needs a home...that he has/is paying for... what BS are you talking about?

    Arguing about cement prices....how is that an investor/end users concern?




    BANG ON TARGET


    The tragedy of this forum has been....when projects were launched...members would speak from the brochures....and inspite of repeated warninngs failed to see the basics

    Now when things are rotting....many members are still not ready to accept the reality "AT LEAST PUBLICALLY"....as it may further deteoriate the already crumbling builder image.......jab nikal nahin saktey...to samjhauta kar lo...

    The problem happens...when the one stuck is calling others to dive into the well..and one starts believing in it


    The extent of discussing is mind boggling....members who failed to understand the simple RE market are now busy discussing strategies a builder should have had or should have in future

    Arrey Gaurs are no on street

    Who is paying for their Lifestyle....JP Gaur moves around in helicopters....who is paying

    Do you think they as individuals are in debt ????


    Jaypee sold Thousands of flats....and a huge % of them had HUGE cash component....every jaypee broker knows this.....3500 psf paid to builder....out of which 2500 psf on paper and 1000 psf in cash...

    this is normal in Noida RE.....nowadays upto 30% can be paid in cash

    Jaypee as a COMPANY is under debt.....and i am sure everyone knows that ALL THESE CALCULATIONS of the financial health of the company is ONLY FOR WHITE MONEY

    The cash component of Benaaami businesses are NOT ACCOUNTED for and can never be


    Gaurs are still as filthy rich as ever...even more...

    Their companies are in a mess....even if they close down...nothing will happen personally to gaurs

    They are as it is now focussing on healthcare and hospitatlity

    Enjoy
    CommentQuote
  • Originally Posted by wishtownhope
    HDFC stops any further payment to Jaypee WT projects from the home loan account! Heard other banks like ICICI and Axis doing the same. Request experts to suggest what's the way out and what could be the implications?

    Just to clarify again, this is already sanctioned home loan, Jaypee sent demand letter for a time-linked payment plan property to which HDFC refuse to make the payment!

    Look forward to your valuable input on this....




    Such a VITAL and IMPORTANT Query has no replies....But if one says that Jaypee Wishtown has problems....expect 10 Replies

    Proves exactly whats WRONG with this forum...spl in Jaypee sections


    I am sorry Mr.Wsihtown...I dont have any input for ur query above...but hope someone will advice you properly.

    Just wanted to highlight the major problems such forums have....
    CommentQuote
  • Originally Posted by zohaib2012
    Such a VITAL and IMPORTANT Query has no replies....But if one says that Jaypee Wishtown has problems....expect 10 Replies

    Proves exactly whats WRONG with this forum...spl in Jaypee sections


    I am sorry Mr.Wsihtown...I dont have any input for ur query above...but hope someone will advice you properly.

    Just wanted to highlight the major problems such forums have....




    Acha Zohaib bhai suna hai 4500 customers ko fresh possession letter issue
    Kiya hai Jaypee ne? Kya khabar sachhi hai? Apko kuch pata hai kya?
    CommentQuote
  • KNOWN FACT TO ALL RE Dealing chaps on yamuna expressway

    Way back in BSP era...when Jaypee was on a high...he found himself in a issue

    The land bank which he got for FREE in tappal are (near aligarh) was found to be Rather Useless for his business...

    But since that was the part of the deal.....getting parcels of land along the expressway for FREE to build the expressway
    Nothing much could be done about it.

    So this is what Jaypee and BSP Did

    They bribed a section of farmers in Tappal to STAGE a protest against Them !!!! for the land deal....compensation, blah blah blah

    It was a massive protest in which firing took place and some poor farmer also lost his life.


    Jaypees legal team then took U.P Govt (then BSP) to court and said...that they are unable to hand over the land as promised...they need compensation

    U.P govt. In EXCHANGE of that USELESS Land in Tappal formally announced to give parcel of land Near Gnoida (this was ofcourse well decideed before and all the drama was staged to achieve this only)

    The agreement was made....jaypee got MORE "SALEABLE" land near F1....(approx the area where Gaur city is launched and jaypee aman 3 is planned)....and got rid of parts of tappal land

    Jaypee then recently sold a part of that land bank to other developers and made crores....


    This is how "BIJNESSS" is done in india....and in RE.....while the 30% tax paying junta is counting pennies

    BARTER SYSTEM still exists ....in a huge way.....

    Enjoy
    CommentQuote