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 dineshsays
    That is inconsequential - point is an upper circuit of a falling stock or thereabouts indicates some news doing the rounds which we are trying to ascertain.


    Lets not bring stock markets in real estate discussions
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  • Originally Posted by saurabhtando
    Lets not bring stock markets in real estate discussions

    Hi there - the point of discussing the recent stock movement is only ro assess the reason behind the move as brokers and operators buy/sell on some development which is not always known to the public.

    The reason might be some capital infusion or asset sale or something like this as a potential reason

    Now if something like this is indeed the reason then it might bode well for construction in Wishtown which is virtually on hold for the reason of cash flows.

    So the purpose of discussing the Jaypee stock is ultimately tied to RE.
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  • Originally Posted by dineshsays
    Hi there - the point of discussing the recent stock movement is only ro assess the reason behind the move as brokers and operators buy/sell on some development which is not always known to the public.

    The reason might be some capital infusion or asset sale or something like this as a potential reason

    Now if something like this is indeed the reason then it might bode well for construction in Wishtown which is virtually on hold for the reason of cash flows.

    So the purpose of discussing the Jaypee stock is ultimately tied to RE.


    @dineshsays very true this gives a perspective and direction

    Pls see this report

    Stressed firms shine on RBI
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  • http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=3772421&classic=true

    Some news on selling Nigrie also. This should fetch anything between 6-10K Cr and bring down JP Power debt to 5-8K Cr

    Now if this happens they will be left with:

    300 Mw Vishnuprayag, 1980 Mw Bara, 5-600 Mw Bina and the transmission business.

    If the power demand and purchase looks ok, then I feel that JP Power is one of their best companies
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  • Dear All,

    My query is to the lucky customers who have got the possession in Kosmos in past few months. How do they find the quality delivered to them in Kosmos , like-
    i). Quality of Flooring, plaster etc.
    ii). Quality of Bath fittings, fixtures, Electricals, wooden doors etc.
    iii). Any defects in the flats - like leakage/seepage in walls/ceiling; floor slope towards drain,
    iV). Quality/make of lifts and maintenance.
    v). Quality of Common area construction and maintenance.
    vi). Landscaping and beautification of surroundings.
    vii). Basement parking issues
    viii). Power backup and water supply etc.
    ix). Has Jaypee addressed the defects/issues pointed out at the time of possession.

    Shall be grateful for the feedback. Thanks in anticipation.
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  • Originally Posted by dineshsays
    Hi there - the point of discussing the recent stock movement is only ro assess the reason behind the move as brokers and operators buy/sell on some development which is not always known to the public.

    The reason might be some capital infusion or asset sale or something like this as a potential reason

    Now if something like this is indeed the reason then it might bode well for construction in Wishtown which is virtually on hold for the reason of cash flows.

    So the purpose of discussing the Jaypee stock is ultimately tied to RE.



    ????

    Jaype Wishtown Was Launched in End 2008, at that time the Group enjoyed Extraordinary poltical back up and support...and was financially healthy

    Jaypee Unlike Builders like 3C, NEVER had a Good speed of construction..nor customer relations

    It was ALWAYS slow....and everyone talked about DELAYS from Day One.
    and never bothered about customers


    If i am not mistaken...Initially the STOCKS of Jaypee were almost Rs.80-90 IN 2009 Or so

    THEN ALSO.....Progress of Wishtown WAS SLOW compared to other builder

    Now also Its Slow....


    So how people are Concluding that Jaypee Stocks are related to RE ????


    Fact remains...that Jaypee used RE to fund his other dreams and projects


    Even as we speak....he is investing in healthcare and education....


    the problem is NOT with his financial condition...BUT INTENTION

    Enjoy
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  • Absolutely.

    Jaypee fanboys/promoters use every asset sale as an excuse to promote wishtown.

    Questions remains....would they use this money to complete wishtown or to pare debt?

    Even jaypee officially says that it is selling assets to reduce debt....but fanboys choose to ingnore that and imply that the money would be used to complete wishtown....how.?? where are they saying that?

    Truth :

    Hospital is functional
    JIIT is running
    School is functional

    Who funded these?

    Actions are stronger than words...jaypee's actions show what his intentions are.
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  • Originally Posted by ranjaon
    Absolutely.

    Jaypee fanboys/promoters use every asset sale as an excuse to promote wishtown.

    Questions remains....would they use this money to complete wishtown or to pare debt?

    Even jaypee officially says that it is selling assets to reduce debt....but fanboys choose to ingnore that and imply that the money would be used to complete wishtown....how.?? where are they saying that?

    Truth :

    Hospital is functional
    JIIT is running
    School is functional

    Who funded these?

    Actions are stronger than words...jaypee's actions show what his intentions are.


    How is possible that the banks will allow the money to be used for anything but to pare debt. JP infra is selling all its receivables from the YEW for 3K odd crores, ie there will be no revenue going forward, it still has debt of about 8K crores that needs to be serviced. Will any lender in today's situation agree to forego the main revenue stream while maintaining the debt at 8K crore and only have a collateral of land bank, with no immediate revenue. If this happens it smells of a quid pro quo, not banking.
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  • Originally Posted by jollygood
    How is possible that the banks will allow the money to be used for anything but to pare debt. JP infra is selling all its receivables from the YEW for 3K odd crores, ie there will be no revenue going forward, it still has debt of about 8K crores that needs to be serviced. Will any lender in today's situation agree to forego the main revenue stream while maintaining the debt at 8K crore and only have a collateral of land bank, with no immediate revenue. If this happens it smells of a quid pro quo, not banking.


    Exactly.

    Wishtown completion seems more like wishful thinking.

    I personally like wishtown...i think it is one of the landmark projects in Noida....it is a pity that it is being handled so shabbily.
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  • On a lighter vein
    I think some of the builders were clairvoyant, naming their projects aptly
    JP wishtown keep wishing
    O my God don't tell me you were not forewarned
    Mist Avenue everything is hidden behind the mist
    Amarpalli Hanging gardens all left hanging.
    Supertec Czar autocratic functioning created 1000 extra apts
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  • There doesn't seems to be a simple way out. All the money being generated is going back to banks.

    When Jaypee knows it costs nothing to keep Wishtown in limbo, so where is the incentive to restart it.

    They are telling lies and everyone knows that but are helpless.
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  • Originally Posted by juyal1503
    There doesn't seems to be a simple way out. All the money being generated is going back to banks.

    When Jaypee knows it costs nothing to keep Wishtown in limbo, so where is the incentive to restart it.

    They are telling lies and everyone knows that but are helpless.


    In fact there is a very simple solution, you can get together 1000 to 2000 persons, even those who got possession and they need to file a stay order against all asset sales being made by JP and demand that this be deposited in an escrow account till JP completes its obligations towards flat buyers. Even if the courts may not agree to full payment in an escrow account, the buyers can insist for a proportionate payment to deposited in an escrow account for completion of the under construction properties. The persons who got the possession can be party to this as they did not not get all the facilities like club etc that they have paid for . The lawyer only needs to prove that the other assets are created by monies paid by the flat buyers.

    The idea is to just create a stumbling block so that JP and banks and other lenders are not able to monetize the assets and whisk the money out of JP. If that happens the buyers are staring down the barrel.

    May be some lawyers on the forum can comment
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  • Originally Posted by jollygood
    In fact there is a very simple solution, you can get together 1000 to 2000 persons, even those who got possession and they need to file a stay order against all asset sales being made by JP and demand that this be deposited in an escrow account till JP completes its obligations towards flat buyers.



    NCDRC or any local Court can't pass order of such magnitude. Only SC can do it. I already explained the idea.
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  • Originally Posted by Bharatiya
    NCDRC or any local Court can't pass order of such magnitude. Only SC can do it. I already explained the idea.

    @Bharatiya

    Yes but 2k buyers approaching SC to obtain a stay should not be too difficult. This would put the brakes on these firesales that are currently happening.
    If not the flat buyers are left with semi constructed flats and an enfeebled shell company that has no wherewithal to complete their apts.

    I am not trying to be an alarmist but just attempting to understand how the asset monetization helps apt buyers if money is used only to pare debt. Is my reading of the situation flawed? Hope you can clarify.
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  • We are already pursuing in NCDRC. But for a larger group there is a need to make the group larger involving different towers.

    Buyers need to have a say in these firesales otherwise completion will be a dream. I noted in our group that most of the buyers have already paid more than 90% so there is little to be collected by Jaypee.
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