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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  • No clothes drying on the railing. Probably some finishing going on inside that flat. Augusta is completely delivered
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  • Any idea what is the current rate of Golf course plots ?
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  • Dineshji what is the status of KBA. When likely work is going to start in KBA
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  • Anyone have idea what is the price of pavilion court RTM 2 bhk non golf course
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  • 65-68 l.
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  • Originally Posted by kp1plotbuy
    Any idea what is the current rate of Golf course plots ?


    Anyone experienced recent deal? Bought or family/friends bought recently?
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  • Heard that stAndard chartered sold their stressed jp loans to some vulture fund who is now going to come after jp assets to recover dues. Is it confirmed news ?
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  • Yes it is confirmed.


    However, people familiar with the sale say that only SSG — the Hong Kong-based distressed debt investor whose founders came from Lehman Brothers — has been brave enough to acquire part of the portfolio, at less than 40 cents to the dollar.

    Mr Gupta suggests some of the loans SSG acquired were to companies “essentially in liquidation without being called that”. For example, the portfolio includes Jaypee, a conglomerate that counts among its assets a cement business that is now sold, a Formula One racetrack from which the motorsport has withdrawn, and a huge residential ghost city outside Delhi.


    Source: https://www.ft.com/content/61d29ef8-...6-39e2633162d5
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  • by the way, SSG is one of the meanest vulture funds around...globally they have always gone for recovery instead of restructuring...they are definitely here to strip the assets and sell them ASAP.
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  • Originally Posted by youngmoney
    by the way, SSG is one of the meanest vulture funds around...globally they have always gone for recovery instead of restructuring...they are definitely here to strip the assets and sell them ASAP.


    That is bad news.
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  • How is it BAD news ? Ask urself the question why did they invest ? if they are so mean they will definitely not throw their money down the drain!!!
    Ans-- As per their analysis this investment in JP can provide very good returns in short term.
    ok but How ?
    Ans-- Clearly they also believe issue with JP is more of cash flow and if they put adequate amount of liquidity with the company then they can walk off with upto 100% returns on their investment in next 2 years.

    I had heard this news sometime back (2- 3 months) that a foreign fund ( from EAST ) is looking to invest in JP.. may be this is the one. If this is true, in my opinion cash flow problems of JP will be resolved. This will lead to increase in prices accross all JP properties.
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  • Originally Posted by bhuwan
    How is it BAD news ? Ask urself the question why did they invest ? if they are so mean they will definitely not throw their money down the drain!!!
    Ans-- As per their analysis this investment in JP can provide very good returns in short term.
    ok but How ?
    Ans-- Clearly they also believe issue with JP is more of cash flow and if they put adequate amount of liquidity with the company then they can walk off with upto 100% returns on their investment in next 2 years.

    I had heard this news sometime back (2- 3 months) that a foreign fund ( from EAST ) is looking to invest in JP.. may be this is the one. If this is true, in my opinion cash flow problems of JP will be resolved. This will lead to increase in prices accross all JP properties.


    That is not how vulture funds operate. They didn't really invest in JP . They just bought stanchart loans on the cheap. Normal banks can't be too aggressive against interests of homebuyers because of fear of reputation damage, but vulture funds don't have such constraints.
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  • Originally Posted by Truenity


    That is not how vulture funds operate. They didn't really invest in JP . They just bought stanchart loans on the cheap. Normal banks can't be too aggressive against interests of homebuyers because of fear of reputation damage, but vulture funds don't have such constraints.


    Why did they buy cheap ? They are not fools ... one stay order from court and whtever u plan w.r.t. aggressive liquadation gets doomed.
    If i buy today something in JP cheap ! Am i not investing in JP ?

    these funds have only one rule ... to make profit ... if it means they need to add some more liquidity into JP so be it... in todays scenario this is the only way for jaypee to come out of this mess and pay back to all lenders.
    Wait out couple of months and you will see the difference on ground.
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  • Well they did not buy anything in cheap. They took on the rights of Standard chartered bank at a throwaway price.
    Its like this : you are defaulting on a loan and your bank can't recover it from you using usual methods, so they will sell at a discount the right to collect the debt to some recovery agent who has the backing of dabangs and will force you to pay by hook or by crook . do you think these people will lend jp even more money to waste on their "ghost city on the outskirts of Delhi" ?
    See the example of how Elliott management collected on defaulted Argentinian debt to see how these funds operate. They have solid understanding of and networks in the legal and political system and are essentially white collar debt collection mafia.
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  • Originally Posted by bhuwan


    Why did they buy cheap ? They are not fools ... one stay order from court and whtever u plan w.r.t. aggressive liquadation gets doomed.
    If i buy today something in JP cheap ! Am i not investing in JP ?

    these funds have only one rule ... to make profit ... if it means they need to add some more liquidity into JP so be it... in todays scenario this is the only way for jaypee to come out of this mess and pay back to all lenders.
    Wait out couple of months and you will see the difference on ground.


    And jp does not have to come out of the mess for the lenders to be paid. The lenders can just sell off whatever assets they can, get their money back and leave the mess behind, which is exactly what they are trying to do by selling off the best operating assets.
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