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 Bharatiya
    Don't compare Delhi to Noida. Delhi has property tax so Municipal corporation provides all maintenance to DDA localities (roads, parks, water, garbage disposal etc). However MCD doesn't do any maintenance of DDA flats, only locality Infrastructure.

    By the way, in new DDA flats. DDA is even responsible for super area maintenance while MCD maintains locality Infrastructure. DDA collects one time charges for this at time of allotment.


    Bharatiya Ji - you are hard into nitpicking these days and simply attacking my posts for the heck of it, and this is not even an important argument. I meant to say in a freehold scenario in a private complex - inside the premises - civic authorities have no role to play. Similarly, Greater Noida Authority having given the Ansal property on Freehold will hv no role to play inside the complex.

    I lived in Delhi all my life (till recently) and family bought and sold 3 DDA properties amongst others - paid property tax yearly and went inside civic authorities multiple times for some work or the other

    So, please don't lecture me. And let's move on to a relevant aspect.
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  • @dineshsays this is the exact same situation for WT, any internal issues will not be addressed by the authority, so it is important that either JP or some financially strong company takes over. If the projects are sold piece meal then it would impossible to maintain the common areas.
    Even though you have the maximum lowdown and insight into WT but it seems you are blinded and only trying to silence any one who has a divergent view point.
    One simple question if JP is forced to sell all income generating assets and the money only goes to lenders to repay loans, where does that leave the buyers.
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  • Originally Posted by jollygood
    You quoted a bizzare figure of Rs 1000 crore, that should have been a cakewalk for JP, at least before they were debilated by the bank action. But still they just twiddled their thumbs.

    Yaar - meri choda na - you are predicting doomsday. Against - what metric and what basis - I would like to know.

    You are writing deep melcholies - firm and resolute, sure of yourself.

    But you have zilch idea what is needed.

    Jaypee this year alone has sold 20000 crores of assets - what twiddling their thumbs.

    I ask again - you are sure WT is no more - but how much is really needed for WT - that you have no inkling, of?? That I find strange.

    How about an educated backhanded guess.
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  • Originally Posted by jollygood
    You quoted a bizzare figure of Rs 1000 crore, that should have been a cakewalk for JP, at least before they were debilated by the bank action. But still they just twiddled their thumbs.


    What's your number ??? or everything going hawabazi ???
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  • Originally Posted by Bharatiya
    Hello Dinesh Sir,

    Does WT Plots have any lease rent to be paid to NA?

    Sir - Noida is a lease-hold zone - lease rent is to be paid on every property transaction, when sub-leasing from builder - it's typically a one time lease rent.

    Typically 1% of premium - some 70-100 psf - best person would be VedKapoor; to tell you about this for plots.
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  • Jaypee have charged Rs 600 / sq yard as one time lease rent
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  • ok Dinesh sir.

    @kp1plotbuy

    You were asking me about how much money needed to complete WT. Since Mr Dinesh came up figure of 1000-2000 crore. I will give you my take on this.

    This is very complex matter as i already said. First of all to make any correct analysis on this subject. A team comprising of Engineers, financial consultants, accountants and evaluators is needed. Then these people needed to be given full information about present status of WT. WT is 35000 houses not some project with 500 houses. How many Apartments and infrastructure is pending right to every detail of single apartment. Not many contractors are interested to work with JP because of previous payment disputes. Details of previous contractors is also needed so as to pay these contractors and bring them back to WT to start work. Also many apartments are CLP and funding can be unlocked by starting these stalled projects. All this information has to be factored in. Also information needed about funding required to completion of Clubs, swimming pools and other facilities. Also JP owes money to creditor banks in various projects and installments and pending dues for these should also be taken into factor.

    I am not a magician and i cannot pull a number out of my magical hat.

    But i tell you this. It would certainly take more than couple of thousand crore to complete WT as per originally intended full township.However significant costs can be saved if JP abandons projects and towers where they have not yet even built a superstructure.
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  • Originally Posted by VedKapoor
    Jaypee have charged Rs 600 / sq yard as one time lease rent

    Thanks Ved Sir for confirming
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  • Originally Posted by Bharatiya
    ok Dinesh sir.

    @kp1plotbuy

    You were asking me about how much money needed to complete WT. Since Mr Dinesh came up figure of 1000-2000 crore. I will give you my take on this.

    This is very complex matter as i already said. First of all to make any correct analysis on this subject. A team comprising of Engineers, financial consultants, accountants and evaluators is needed. Then these people needed to be given full information about present status of WT. WT is 35000 houses not some project with 500 houses. How many Apartments and infrastructure is pending right to every detail of single apartment. Not many contractors are interested to work with JP because of previous payment disputes. Details of previous contractors is also needed so as to pay these contractors and bring them back to WT to start work. Also many apartments are CLP and funding can be unlocked by starting these stalled projects. All this information has to be factored in. Also information needed about funding required to completion of Clubs, swimming pools and other facilities. Also JP owes money to creditor banks in various projects and installments and pending dues for these should also be taken into factor.

    I am not a magician and i cannot pull a number out of my magical hat.

    But i tell you this. It would certainly take more than couple of thousand crore to complete WT as per originally intended full township.However significant costs can be saved if JP abandons projects and towers where they have not yet even built a superstructure.

    Soooo... predicting doomsday requires the grand total of one keyboard pusher, while predicting revival needs teams of people.

    Sahi dost - jab paint utarni hai to button kholdo, paint chadhani hai to crane chahiye :)

    Chalo thodi mehnat karo, backhanded to karo - let's get it right to the closest 0000 (ie ten figures or twelve) wahin se assess kar lenge - I'll help you on your way.
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  • yaar maine toh koi doomsday predict nahin kiya.

    Doomsday analysis is done by rating agencies, Govt and private sector banks who are putting JP in default category, NPA and seizing its assets. Banks and rating agencies must have done all kind of financial and technical analysis regarding JP's condition. JP is defaulting on payments to various parties ....as well as to home buyers/consumers. JP cannot meet its obligations. Its a simple fact.

    I can't give you any number because i don't even know the details of WT. How much payment is pending to contractors? How much payment is pending to creditor banks? What is status of 28000 apartments right to every detail? etc etc etc If this is all known, then a qualified team of experts can present a figure on how much money is needed to finish WT.
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  • Yes but it could mean a zillion things. There could be further asset sales in the pipeline, WT itself could be hived off, the eWay could be monetized, the hospital could be attached.

    That really could easily get WT going again. Why discount it. Have asset sales slowed this year? Infact this year has been the biggest of the divestment cycle. Nothing else to sell?? Wrong - there is plenty to sell
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  • So as per your first class business school assessment - WT has no hope, will never be built - will crumble to dust - and a million dreams will shatter - something like this?
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  • Originally Posted by kp1plotbuy
    What's your number ??? or everything going hawabazi ???

    Hawabazi is by JP, if you care you see.

    There are no clear details of amount already received, money required to finish towers, land bank available is all opaque and people guessing figures and quoting figures. It seems a joke, unless you see the situation of stuck buyers.
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  • Originally Posted by jollygood
    Hawabazi is by JP, if you care you see.

    There are no clear details of amount already received, money required to finish towers, land bank available is all opaque and people guessing figures and quoting figures. It seems a joke, unless you see the situation of stuck buyers.


    Hawabazi is on these forum's.... imperial court possession is a ground reality.... few shrewd brokers who are continuously trying to pull the rates down for bottom fishing even predicted Imperial court would never be delivered.... now what ???

    If people are guessing, then you can give your number.... atleast we can have some discussion on that rather than old rhyme..
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  • Someone said we have 28000 apartments to be delivered. If i assume an average 1000 sft size (really conservative) for these it comes to be 2.8 Cr sft of area. If i assume we need another 1000 to complete then it is about 2800 cr.

    And then clubs and other amenities etc. and pending payments for previous contractors. So it could be at a conservative estimate 3500 cr.
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