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 FTDFTD
    And why to mislead, non golf is available in 4800-5300 All inclusive.
    That's a truth, many sellers are there.
    It's no secret.

    Secret is where is golf view unit of yours with 5100 AI.???


    As per quotes for 1356 sqft non-golf is 64-66L; and golf facing is 72L (5300 per sqft) .. On portal price quoted are higher side only .. may be on table one could get at 70L also ..


    I have not seen the unit yet hence not sure what is this non-golf and golf facing. But yes it seems price have come down lot .. may be people have doubts about amenities to be developed as developing in Sector 7x or Sec137 ..


    In India if sector is not fully occupied then security issues always there if need to travel in night ... In 2008 even there are instance in Sector 125 sector also when it was less occupied or less traffic ..


    Many buyers already suffering due to delays and now they might not have energy left to take assumption or risks that amenities will be developed in Wish town in next 3-4 years as jaypee is going to be slow on completing other projects and hence so amenities in Wish Town .due to known funds problems.
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  • Originally Posted by noida1001
    Pavilion court


    I reported years ago that Earth Court and Estate Homes constructed by JP in GN had massive seepage issues. I know people who own and are living in their houses over there. Therefore I was aware of this issue. Jp would fix the seepage and it would return next year. I heard back then that there was a private company that was doing expensive repairs for the problem but then it would stay fixed.

    The chap in Earth court sold and bought new land in JP GN where Jaypee was doing zero construction. He doesn't have this issue now. The estate homes outer structure was done by JP so same problem is existent there.

    Sad to see Jaypee has not learned from their mistakes.
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  • Originally Posted by proploss
    As per quotes for 1356 sqft non-golf is 64-66L; and golf facing is 72L (5300 per sqft) .. On portal price quoted are higher side only .. may be on table one could get at 70L also ..


    I have not seen the unit yet hence not sure what is this non-golf and golf facing. But yes it seems price have come down lot .. may be people have doubts about amenities to be developed as developing in Sector 7x or Sec137 ..


    In India if sector is not fully occupied then security issues always there if need to travel in night ... In 2008 even there are instance in Sector 125 sector also when it was less occupied or less traffic ..


    Many buyers already suffering due to delays and now they might not have energy left to take assumption or risks that amenities will be developed in Wish town in next 3-4 years as jaypee is going to be slow on completing other projects and hence so amenities in Wish Town .due to known funds problems.



    Best of luck, you accepted the truth.
    As per my ground knowledge for completed towers in wish town, following are the beauties :

    Best quality towers and designs, minor seepage issues are in ATS and Omaxe grands as well

    Super tight security, in KLASSIC , PVC kalypso , without permissions it's impossible to enter.

    All makeshift amenities are available in all towers like gym. It's there at ground floors, till club completion

    Material quality is top, workmanship may be poor.

    Shops are coming near Klassic, and already operational in pavilion, eon super mart, Apollo ******** and daily goods.

    24x7, support staff, super efficient and responsive.

    FTTH by radius in all towers, so far only ATS offered their services, and commonwealth games village DELHI .this will help keeping dish antenna out of building, and all BB services to unit directly.

    Extreme low density in sector 128, and better than 137 in 129,134

    Greenary will be better than New Delhi, wait for trees to grow.

    It was a luxury in 2010-11, there were queues in booking, every big business see ups and downs, like VOLKSWAGEN did, will should be honest, which is there, else you can see UNITECH across the road.

    It's all political games, will be over soon.
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  • News
    Rs 12000 cr debt will be transferred to UltraTech: JP Associates
    05 Jul 2016 09:31 AM| Source: CNBC-TV18
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    Jaiprakash Associates and UltraTech on Monday approved an amendment to the draft sale agreement that was signed in March this year to sell JP Associates cement business to the latter.

    UltraTech will buy JP’s cement five operating units, amounting to a capacity of 17.2 million tonnes per annum for Rs 16,189 crore and pay an additional Rs 470 crore for a grinding unit.

    JP Associates current debt stand's at Rs 28,000 crore alongwith Rs 2,000 crore in a subsidiary. Of this, Rs 12,000 crore will be transferred to UltraTech, says Rahul Kumar, Director & CFO of JP Associates.

    The company will have close to Rs 15,000-16,000 crore debt left post the deal.

    Post yesterday’s amendment, Kumar does not expect the lenders to invoke structural debt restructuring (SDR) guidelines. He is expecting to close the deal by 2016-end.

    The company will continue to look at options to pare its remaining debt. It still has 10 million tonnes of cement assets alongwith assets in power.

    Below is the verbatim transcript of Rahul Kumar’s interview with Sonia Shenoy & Anuj Singhal on CNBC-TV18.

    Anuj: Can you tell us what the delay was about and whether you have the lenders approval now in place for this deal?

    A: There was no delay, we had signed the definitive agreements with UltraTech Cement on March 31st and this was the next logical step, this scheme which is to be filed with the courts and the stock exchanges that has been prepared in the interim and was approved by the respective boards yesterday.

    Sonia: Can you tell us little bit about debt position now? What is the total debt on the books of Jaiprakash Associates and how much debt will you be transferring toUltraTech out of that enterprise value of around Rs 16,200 crore?

    A: Total debt in Jaiprakash Associates is closed to about Rs 28,000 and we have another Rs 2,000 crore debt in a subsidiary company and asset of which is also part of the entire portfolio, which will be divested in favour of UltraTech. So, against this debt of Rs 30,000 crore about Rs 12,000 crore of debt will get paid off or transferred to UltraTech. The remaining consideration will be used to pay off some other liabilities and fulfilling other obligations of the company.

    Anuj: Let me go back to my original question are lenders on board and what is the status with the strategic debt restructuring (SDR)?

    A: Lenders in the last meeting of the Joint Lender Forum (JLF) in the last week of the previous month had proposed to invoke the SDR guidelines keeping in view the time which is taking for the entire divestment process to get completed. That proposal in any case is subject to approval of all the lenders. Now this one more concrete step having been taken yesterday on the divestment should bring a lot of clarity around the value and timeline. I think post this there should really be no need to invoke the SDR.

    Anuj: The reason I asked this question is yesterday we had a couple of people raising question mark over the way this deal has been structured, the valuation looked a bit low. Could that have been the reason that the lenders got involved and invoked the SDR?

    A: In the current circumstances and given the spread of the portfolio, it is a fair value that one has got for the assets and it is fair for both sides. It is about a Rs 1,000 crore in terms of capacity which is by all standards a fair valuation.

    Anuj: A lot of people believe UltraTech is getting it way to cheap?

    A: I think that is their perception but like I said Rs 1,000 crore per million tonne of capacity including capacities in South India where you know thecapacity utilisation is significantly lower than the rest of the country I think it is fair valuation.

    Sonia: Can you give us any rough timeline on when you hope to get the lenders approval because the fear is that in the whole consortium there are 40 lenders so it may take a lot of time to get the approval? Can you give us any kind of timeline?

    A: The lenders have been involved in this entire process throughout once we started last year. Personally, we don’t see any resistance from the lenders on this deal but like you said given the large number of lenders, it is of course going to take some time but it would happen concurrently along with the other approvals that we need to take. Together, I think we should be able to obtain all the approvals and complete the transaction in about nine month’s time from now, so maybe by the end of the financial year.

    Anuj: What is next in terms of your debt reduction drive? Is there anything left to monetise that you will be doing over the next say 9 to 12 months?

    A: The company still has a lot of assets including over 10 million tonne of cement capacity besides it has assets in the power and real estate portfolio. However, we have already taken a lot of initiatives on a proactive basis of disinvestment to deleverage. Now we would also be examining the brief and guidelines issued by the Reserve Bank of India (RBI) to make sure that we have the best possible solution to manage the total debt of Jaiprakash Associates also as well as the total group.

    Sonia: The total debt of Jaiprakash Associates now that Rs 12,000 crore will be transferred to UltraTech Cement will stand at just Rs 18,000 crore, is that correct?

    A: It is about close to Rs 16,000 -- I said Rs 28,000 is the total out of which about Rs 12,000 will get paid off or transferred so it will be left with about Rs 15,000-16,000 crore of debt.

    Sonia: Is there any internal target of how muchdebt you plan to reduce out of this Rs 16,000 crore over the next one year?

    A: No specific target or guideline but obviously the efforts are on to make sure that debt is at a manageable or sustainable level. So, we will see whether through the new guidelines or further disinvestment by at least over the next 9 to 12 months we bring the debt to that sustainable and manageable level.

    Sonia: You were telling my colleague about the kind of assets that you have. You also own some property some land in terms of hotels etc, so any plans to monetise that?

    A: No, nothing as of now.
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  • Gandhi tu kitna desperate hai yaar - kitni ids badlega. Apne aap ko genius bolta hai, in company with Nobel prize winners bolta hai, you are nothing but a pathetic troll here to satisfy your online ego.

    What part of stay out do you not understand???
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  • @dineshsays Bhai confirmed by Jaypee. OC received for all 3 towers. OOP in 10 business days.
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  • Originally Posted by dineshsays
    Gandhi tu kitna desperate hai yaar - kitni ids badlega. Apne aap ko genius bolta hai, in company with Nobel prize winners bolta hai, you are nothing but a pathetic troll here to satisfy your online ego.

    What part of stay out do you not understand???


    Dinesh Bhai. Abb possession ki tayari chalu. I remember you mentioned you got them to redo AC’s, Bathroom tiles and wooden flooring. What are the things a layman needs to lookout for and how to know they have been done correctly? A post on this would be great.
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  • That's amazing news. My heartiest congratulations.

    I know how you have waited these many years - fighting doubt etc.

    Hope I have been able to help in this and made this wait a little bearable

    There is now a lot of greenery I can see at Imperial. A bit under the weather right now - will share a few pics when better.
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  • Originally Posted by Imperialnoid
    Dinesh Bhai. Abb possession ki tayari chalu. I remember you mentioned you got them to redo AC’s, Bathroom tiles and wooden flooring. What are the things a layman needs to lookout for and how to know they have been done correctly? A post on this would be great.

    Give a day or two. I will
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  • Originally Posted by fidobagging
    People don't even buy a TV from a company they know is going to go bankrupt because there is no certainty that any of the product guarantees will be honoured.

    While JP has a great team of marketers, brochure artists, maalis, landscapers, etc, even their premium Greater Noida projects had basic structural problems even at a time when then were flush with funds and invested in the real estate business for the long term- as Imperialnoid pointed out. Now, when the lenders are in the process of taking over the company, you can imagine what the quality of construction and maintenance will be like. Remember , the township is still new and the impact of wear and tear on the infrastructure will only start to show up in 5-10 years.



    You don't worry about ourself, and our investment
    We will be happy there, and your negativity cannot change any opinion.
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  • Originally Posted by dineshsays
    That's amazing news. My heartiest congratulations.

    I know how you have waited these many years - fighting doubt etc.

    Hope I have been able to help in this and made this wait a little bearable

    There is now a lot of greenery I can see at Imperial. A bit under the weather right now - will share a few pics when better.



    Things will move though at snail pace, let bashers satisfy their ego.

    Let there be frustration to them, and gold will bless them with frustration..
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  • ALERT*** fidobagging is definitely pkGandhi. Writing style, going old posts etc.
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  • Imperialnoid congratulations sir. I always read your posts with interest, hopefully even after possession you will continue to engage with on the forum.

    By the way I recall some posts by nobel laureate companions claiming possession on IC would come in 2020.
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  • Originally Posted by Poddarvaib
    Imperialnoid congratulations sir. I always read your posts with interest, hopefully even after possession you will continue to engage with on the forum.

    By the way I recall some posts by nobel laureate companions claiming possession on IC would come in 2020.


    So do I - panic monger, troll machine. He did say Imperial possession not before 2020.

    He is now back in his tenth id - what propensity and need to bash, unbelievable!!

    What an individual he must be - I can't fathom. How do these desperate morons live with themselves.

    One time it is doing samaj sewa, other times it is mass social experiments and yet other times it is pretending to be different ppl - even a woman once - golf is so bad - golfers come and pee in front of my house. Sheeesh - get a life.
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  • I have a unit in Imperial and really pleased to know that the delivery is due soon. I have been a silent follower of updates from Dineshsays providing ground reality - it is a thankless job but what you have done is a true selfless service to people like me. A question for senior members and Dineshsays - I am overseas and given my circumstances I am not in a position to come and take possession for a few months, at least till December. As things are - I do not have family members who can assist with the formalities either. Any suggestions how I should work around will be most appreciated? JP is not able to help me - hence this question on this Forum.
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