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 dipak44
    I bought a flat in Jaypee Wishtown last March (2015).


    The structure was complete. Finishing was pending and NGT objection was headlines. I gambled on the NGT clearance. Of course, I was not in a hurry as there was no urgency of occupation for me. I forecasted a great increase in capital value 10 years down the line when Wishtown would rival Sectors 44 and 15A for supremacy.


    Fortunately, the NGT clearance came early. I was offered possession in December as OC had been issued. January I paid the final amount. In April 2016, the prop was registered and handed over to me with a letter mentioning the OC.


    There were minor issues but FMG have been very co-operative and supportive. They attend to these issues willingly and promptly. The security is as tight as it always has been.


    I am happy that I chose to buy.


    Of course, I am unlikely to get any of the penalty for delayed delivery and I did buy at a premium above the initial rates.


    There are several families living in the block. Now I am waiting for a sufficient large number to move in and form a RWA.


    Same Here. Bought in Pavilion Court last August. Although im an end user, but in no hurry to move in.
    NGT clearance came immediately. Transfer & Loan Disbursement from HDFC happened smoothly. Registry in March.
    Long term view is very bullish. However short term seems to be scary. If jaypee pulss up its socks and completes wish town, this is the next DLF Aralias/Magnolias.

    Right now, people are coming in slowly and occupying flats. By next year things should be very much OK
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  • who will maintain the areas of the township that are not a part of any particular project? Will everyone pool in to repair roads, sewers etc..?
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  • Originally Posted by firstimebuy
    Same Here. Bought in Pavilion Court last August. Although im an end user, but in no hurry to move in.
    NGT clearance came immediately. Transfer & Loan Disbursement from HDFC happened smoothly. Registry in March.
    Long term view is very bullish. However short term seems to be scary. If jaypee pulss up its socks and completes wish town, this is the next DLF Aralias/Magnolias.

    Right now, people are coming in slowly and occupying flats. By next year things should be very much OK


    My case is exactly like yours. I was initially booked in NRI Tiara Tower. Jaypee cancelled the project and offered me a flat in Pavilion Court. They transferred the money which I had initially paid to the account of my PC flat without any hitch.They offered me possession in December. Luckily I was in India at that time. I had to do registration ASAP as I had to leave India. Inder Kumar Arora was unwilling to do in such a short span of time but Vidya Basarkod Jaypee Greens President helped me a lot though I was not known to her and the registration was done 1 day before I left India. Now I have got possession of the flat. FMCG is excellent. All in all a very good experience.

    Appreciate all those who are currently living in WT to share their living experience.

    Dineshji, as a veteran member please educate us of your day to day experience of living in WT and how do you see it 5 years down the line.
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  • Fair enough - I'll share my experience so far now that it has been over two months

    I always have tried to explain both the pros and cons of any situation and I will try and go the same route

    1. Registration: in April was a challenge but more so because of the news that Noida will increase stamp duty so everyone just wanted to do registry ASAP. This was a little unprecedented for any builder and for Jaypee on the back of offering a few thousand flats up - it was very difficult to manage so many registries. Still we managed this after some good tips on IREF on how to proceed

    2. Recieving the flat: since I have a lot of experience in these matters I was fairly strict in all defects being identified and fixed before I moved in. This meant some tiles to be redone, ACs to be reinstalled, wooden flooring to be relaid and a few other aspects. At this stage please understand there are two teams at play - the project team and the FMG team. Project team is responsible for completion and initial handover and FMG is then supposed to take over any issues from thereon. I made a lot of friends in the project team and they still help me from time to time of needed. Else FMG has a 24x7 helpline and they have plumbers, electricians, etc on standby always. When you live a few small things always come that you missed earlier and it is important that the builder support you at that time. I was assured of this and will give full marks to the FMG and project teams for being there anytime I needed them.

    3. Livability: when we shifted in the tower there were only two families - now there are ten and one family moves every week for sure. Initially there were a few issues with labour using the lifts, very few lights around the tower, quite a lengthy process to setup Internet / TV through the fiber optic lines etc but I was in constant touch with Mr Chowdhary who heads FMG and one by one all issues are being resolved. They have put a lot of lights, labour has been threatened with fines if they use passenger lifts, the fiber process is better but still needs improvement but key is that things are heard and actioned on. In front of me a badminton court was commissioned, a tennis court is almost ready and a full sports field with many facilities has come up behind PC. Parking is MASSIVE it reminds you of GIP parking, lifts are superfast Mitsubishi lifts, the view - you just can't get enough of, there is a km long jogging track next to the golf course with peacocks, the lift lobby is now nicely done (though still needs some work to finish), water is super quality and is there 24*7, electricity goes off rarely in a day maybe 1-2 times but the backup kicks in a few seconds - which is free for the time being as a good gesture. As a golfer this is heaven as I don't have to travel much at all during the weekends and get to spend more time with family. Maids, help is no problem, two three shops have all essentials and we use big basket which in any case resolves a lot of issues. Obviously once Kalypso Arcade is fully commissioned life will become much easier.

    4. We miss a club which will take some time, we still don't have IGL lines (which is there till the tower but will take time to come to the apartments), fiber network options for TV and net are limited but I am told Airtel is shortly on its way in, Tata is there for Internet. UC towers are demarcated quite well though all wish that these get completed faster. In terms of maintenance no issues whatsoever - roads, greenery etc is very well maintained.

    5. Personally I was vary of travelling go Gurgaon as I have my interiors practice there - but I have to say after I did my own home, I am now doing a lot of interiors in WT only and if this continues I will make a small home office here only as the opportunity is fantastic and considering I don't have to travel much - I am over the moon.

    So all in all it has been great so far - big open house, great parking, superfast Mitsubishi lifts, great lawns and greens and fabulous place for morning walks, good security (now they keep only tenth pass people as gaurds), good water, electricity, no issues with help, good maintenance, people who listen to you in the facilities area, reasonable maintenance charge, well finished apartment, defects easily fixed as they happen, a good home jaccuzzi is fun on a weekly basis, a good professional break in getting a lot of work near my home etc are all positives - some work in progress buildings, no club, limited fiber options, no IGL line so far, two star ACs, the occassional labour travelling in passenger lifts are the immediate negatives. Obviously the bad memories of all delays and super area increase will never go easily.

    If I can answer any specific queries pls let me know
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  • On your second question - that of the outlook five years from now - it is going to clearly be a question of if and when liquidity is infused back into Wishtown.

    Will Jaypee get the likes of Tata, Godrej, ATS to also come up and launch a few projects here will also be important

    A few things going right from hereon will mean WT being the best place to stay in Noida save the likes of a few premium 15A or 44 likes of sectors.

    Equally if Jaypee is unable to come out of its debt issue it will not be that nice and you will see complete towers interspersed with UC towers with limited occupation.

    But if you ask me to venture on an outcome - I remain positive and believe JP will come out of this and WT will rock

    This is just my opinion.
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  • Originally Posted by dineshsays
    On your second question - that of the outlook five years from now - it is going to clearly be a question of if and when liquidity is infused back into Wishtown.

    Will Jaypee get the likes of Tata, Godrej, ATS to also come up and launch a few projects here will also be important

    A few things going right from hereon will mean WT being the best place to stay in Noida save the likes of a few premium 15A or 44 likes of sectors.

    Equally if Jaypee is unable to come out of its debt issue it will not be that nice and you will see complete towers interspersed with UC towers with limited occupation.

    But if you ask me to venture on an outcome - I remain positive and believe JP will come out of this and WT will rock

    This is just my opinion.


    Dinesh Ji.. I deal with a lot of builders in my business and happen to speak to them about Jaypee wishtown. Ive spoken to people who are responsible for procurement of land in Eldeco & ATS. They both said that jaypee came with proposal to sell land in wish town but nobody is willing to buy because:
    1. Its fully paid up. Whats the builders advantage in paying up the full money on day 1 when he can buy from authority on a payment plan. It affects their IRR majorly.
    2. There is a huge legal risk involved in the sense that banks may come forward to claim right over this land

    This is straight from the horse's mouth. No hearsay. So I wont really expect top developers to come and buy land here anytime soon
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  • Bro I understand what you are saying. From Jaypee's standpoint you are buying land which faces a golf course with excellent roads and Infra already done up and a FAR which Jaypee will sell over the table. No issues with authority/ officials and all EDC/ STP/ WATER / GAS etc done

    On second point authority has no land now to sell on this good an area - doubt many builders can sell on YEW where land is easily available on EMIs - they can't just buy something like this from authority

    Though I am certain all these discussions would have happened and still builders may have rejected
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  • JP financial condition and its desperate need for cash does not allow them to negotiate any deal on their terms.
    Anyone giving them CASH now will seek huge discounts, this probably is the number one reason why such deals are failing.
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  • Originally Posted by dineshsays
    On your second question - that of the outlook five years from now - it is going to clearly be a question of if and when liquidity is infused back into Wishtown.

    Will Jaypee get the likes of Tata, Godrej, ATS to also come up and launch a few projects here will also be important

    A few things going right from hereon will mean WT being the best place to stay in Noida save the likes of a few premium 15A or 44 likes of sectors.

    Equally if Jaypee is unable to come out of its debt issue it will not be that nice and you will see complete towers interspersed with UC towers with limited occupation.

    But if you ask me to venture on an outcome - I remain positive and believe JP will come out of this and WT will rock

    This is just my opinion.


    Dineshji, Many thanks for your detailed information on WT and its future. Please share with us your views from time to time.
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  • Originally Posted by dineshsays
    On your second question - that of the outlook five years from now - it is going to clearly be a question of if and when liquidity is infused back into Wishtown.

    Will Jaypee get the likes of Tata, Godrej, ATS to also come up and launch a few projects here will also be important

    A few things going right from hereon will mean WT being the best place to stay in Noida save the likes of a few premium 15A or 44 likes of sectors.

    Equally if Jaypee is unable to come out of its debt issue it will not be that nice and you will see complete towers interspersed with UC towers with limited occupation.

    But if you ask me to venture on an outcome - I remain positive and believe JP will come out of this and WT will rock

    This is just my opinion.


    that's an emotional and optimistic opinion.

    wish all involved very best.
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  • Discussions on Banned members is not allowed . If anybody has any issues with banning of a particular member, PM me .
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  • Originally Posted by amitexpert
    that's an emotional and optimistic opinion.

    wish all involved very best.


    Do the existing investors/end users have an option other than remaining optimistic?

    I sincerely believe whoever thinking of buying anything in WT, needs to be on the sidelines for watch out how Jaypee is going to deal with the financial conditions they are in.

    It is big risk to jump in now!
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  • Originally Posted by rareal
    Do the existing investors/end users have an option other than remaining optimistic?

    I sincerely believe whoever thinking of buying anything in WT, needs to be on the sidelines for watch out how Jaypee is going to deal with the financial conditions they are in.

    It is big risk to jump in now!


    Warren Buffett -
    "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"

    Not denying the risk that is involved, but there is no significant gain without calculated risk.
    This could be life time oppertunity as well, lot of options in wishtown are available at lucrative prices.
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  • may i know what is the lucrative price we are getting in wishtown? And based on what calculation you can take this risk?

    The prices are not at a point where the risk to reward ratio is good. At this point it is a blind jump.
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  • Originally Posted by dineshsays
    On your second question - that of the outlook five years from now - it is going to clearly be a question of if and when liquidity is infused back into Wishtown.

    Will Jaypee get the likes of Tata, Godrej, ATS to also come up and launch a few projects here will also be important

    A few things going right from hereon will mean WT being the best place to stay in Noida save the likes of a few premium 15A or 44 likes of sectors.

    Equally if Jaypee is unable to come out of its debt issue it will not be that nice and you will see complete towers interspersed with UC towers with limited occupation.

    But if you ask me to venture on an outcome - I remain positive and believe JP will come out of this and WT will rock

    This is just my opinion.


    This will definitely happen 5 or 7 years down the line when Noida expressway land pacel is used up. But, common investors can't hold till then. Jaypee has 1200 acres of prime land, it cant be ignored forever by other builders.

    No one should invest in Jaypee unless he has a 7 year+ time line in mind. In the short to medium term, investment in Jaypee would be nothing but disastrous IMO.
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