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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  • Dinesh Bhai perhaps you did not go through Kaka's post in detail. An excerpt:

    In a recent judgement by Hon’ble NCDRC in response to a case filed by a group of 10 homebuyers from Jaypee’s group project – Kalypso in Noida against the builder, the bench has made very sharp observations against the conduct of the builder and imposed hefty penalties against the builder. Per the judgement the penalty will grow up to Rs 5,000 per day if the builder fails to deliver the flat up to a certain date.
  • Sorry guys in the first post i was trying to highlight the excerpt but did it incorrectly so reposted the excerpt.
  • My registry was done on 24 march.

    My signed registry papers were deposited by the lawyer in beginning of May in jaypee office. I went yesterday to the registrar office to meet my lawyer who i had asked to give me a certified copy of the lease deed rather than just a photocopy. He charged me 1500 Rs. for it.

    I saw so many people still in registrar office getting their registries done. As more and more registries happen and people start taking handover from Jaypee, the society will become livable
  • Gentlemen...kindly keep updating about plotted side development also (plot guys...greedy investors!!! who cares!!!). I understand most of the people active on this forum are Multi-story apartment owners. Some of you are doing an amazing work to inform gullible janta about ground situation with pictures and spot-on commentaries. Keep it up people no matter how much you are being pulled down. Keep you keyboard always free of dust.
  • Just for info. Kalypso now over 30 families are staying. Over 240 flats have been requested for final handover. 100+ have been handed over.

    Slowly people are moving in.
  • Really?

    People are here for information but not for skewed information.

    And yes onus is on us, the readers, to differentiate and extract correct info. but for new guys( 1st time buyers), its not possible and they are main target of these brokers and agents.

    Internet plate forums were good till they were young and were beginners, now they are like paid news and paid forums. Most of data is crap and you find any kind of information going around.

    Many do manipulate others by posture of samaj seva also. They cannot claim other way also.
  • Dinesh bhai, has the possession for IC been initiated??? How many families are staying in the golf course side now vis a vis possession offered??
  • No not for IC - OC has not come yet. However a few ppl have taken possession in bareshell form. You get about 5L back.
  • After having made a conservative prediction that this project would be delivered by Dec 2014 and then having changed it to mid 2016, I wonder if we will hear any other rosy predictions ?
  • Originally Posted by Bharatiya
    I can't speculate on laziness of Lenders. Though i think they've been giving big leeway to JP and JP still has much land bank around expressway along with many other assets than can be taken over.

    Dinesh Sir told that many Hectares of unencumbered land is there in WT. I don't know accuracy of this statement. But if its true, it should be liquidated to complete all pending projects.

    Mr Bharatiya,

    According to information given to t_yash sir by JP senior management, even greater noida golf course is mortgaged. Please ask yourself what is the probability that any unsold land in the incomplete wishtown project would be unencumbered when even unsold flats have been attached? At this point even Mr dineshsays will admit that is the truth.
  • JP Greens Greater Noida golf course is a Jaypee Hotels asset. While the hotels group itself may have some debt I doubt if the Golf Course itself is encumbered as a seperate entity

    Over 100 acres of prime GC land is available in WT and some more in the non GC area. Yes.
  • 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....

    Mr wishtownhope,

    This is because of the unfortunate issue of dual financing I had been highlighting, but the army of JP investors on this forum was brushing under the carpet.

    As a simple illustration, lets say you have bought a flat being sold for 1 crore. You put in 20 lakhs of own money and borrow the rest. Lets say you have made 90% payment, so the bank has lent you 70 lakhs. The problem is that JP has also pledged the land and work in progress in the flat and borrowed 70 lakhs against it. Given JP's ( not Gaurs') precarious financial situation there is a big question mark on whether the flat will ever be completed. With total loans of 1.4 crore already outstanding against a property notionally worth 1 crore ( if it is ever completed) , no lender would like to throw good money after bad and disburse any more.

    Unfortunately, this means that cashflows for Wishtown joule would come even more strained and make it even less likely the project is ever completed. I emphathise with you but have no answers for you. All I would suggest is if you don't have lots of risk tolerance and can find a buyer, it might be worthwhile to consider selling your property.
  • Originally Posted by dineshsays
    JP Greens Greater Noida golf course is a Jaypee Hotels asset. While the hotels group itself may have some debt I doubt if the Golf Course itself is encumbered as a seperate entity

    Over 100 acres of prime GC land is available in WT and some more in the non GC area. Yes.

    Mr dineshsays,
    This information was posted by t_yash sir based on what Mr ajit Kumar told his group. Given your respective track records, I am inclined to place more credibility on what he is saying.
  • Oh go ahead you place your faith in whoever you want. You think I write to convince/ engage with the likes of you.

    It doesn't change the FACT that over 100 acres are available.
  • Moderators,
    Pls save us and implement rules of iref for the larger good of the forum.
    This daily drama of spitting and scooting is becoming too much.
    If this can not be done, i think i will leave iref as had been suggested by other contributing members.