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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  • Gaurav Jain resigns as director of Jaypee Infra

    Jaypee Infratech has lately been mired in controversies regarding delay in their projects in Noida
    Sanu Sandilya | ETRealty | May 04, 2017, 17:45 IST


    NEW DELHI: Real estate developer Jaypee Infratech has announced the resignation of Gaurav Jain as the director of the company effective today.

    "...this is to inform you that the Board of Directors has accepted the resignation of Shri Gaurav Jain, from the office of Director/Whole-time Director of the Company through resolution by circulation with effect from 04 May 2017, submitted by him due to some personal reasons," the company said in a BSE filing.

    Jaypee Infratech has lately been mired in controversies regarding delay in their projects in Noida.

    A group of home buyers of it's Aman project in Noida recently filed an FIR against the company, its managing director Manoj Gaur, directors Sunny Gaur, Pankaj Gaur and Sachin Gaur, invoking charges of cheating, criminal breach of trust, forgery and criminal conspiracy under various sections of the IPC.

    In a similar case, earlier in April, buyers of Jaypee Wish Town project registered a police complaint at the Yamuna Expressway police station.

    According to media reports, Jaypee Infratech is now planning to upload a progress report with buyers of Wish Town by July-end.

    The Yamuna Expressway Industrial Development Authority (YEIDA) has also recently cancelled five housing projects of the developer in Sports City East on allegedly selling the projects without getting building plans approved.



    URL: http://realty.economictimes.indiatimes.com/news/industry/gaurav-jain-resigns-as-director-of-jaypee-infra/58516690
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  • http://m.timesofindia.com/city/noida/noida-builders-promise-to-complete-pending-projects-by-2020/articleshow/58646286.cms


    This is i think first time in ncr, i wish all best to buyers and hope their builder do what they promise
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  • What is first time in NCR ? That builder is promising he will deliver flat ?
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  • Yesterday I saw multiple trucks coming in and out of the barricaded plot behind pebble court. The trucks were carrying sand. Atleast 2 digging machines were deployed there.
    Does anyone know who this plot belongs to. I had heard Jaypee had sold it to some builder.
    No hoardings or advertisement of any project there. I wonder whats going to come up here
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  • Originally Posted by gujjaraat
    What is first time in NCR ? That builder is promising he will deliver flat ?



    Sir written commitment to govt. Authority, of course no guarantee in anything but its a positive step
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  • will jaypee allow "BUILDER TRANSFER" after they raise "Offer of Possession" to the current owner ( registry not done )
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    1 Comments
    • pravashi1 years ago
      While we struggle to get our apartments and Jaypee says it has no money

      this report came on all national dailies late last year.

      http://indianexpress.com/article/sports/motor-sport/debt-ridden-jaypee-group-has-no-plans-to-sell-buddh-international-circuit-f1-track-3727511/


      Debt-ridden Jaypee Group has no plans to sell Buddh International Circuit F1 track

      Maintenance cost of Buddh International Circuit remains high and no major international race are being organised.

      Getting Formula 1 back to the Buddh International Circuit (BIC) is not on the priority list for the debt-ridden Jaypee Group but at the same time, it has no plans to sell the USD 400 million facility that put India on the world motorsport map, said track chief Sameer Gaur.

      “Yes, we are not thinking of hosting any big race including F1 in the near future because of reasons well known but it doesn’t mean we are open to selling the circuit. The thought has not even crossed our mind,” Gaur, who is Jaypee Sports International MD and CEO, told PTI.

      The BIC has been away from the limelight ever since the race was dropped from the F1 calendar following three editions from 2011 to 2013. The maintenance cost of the circuit remains high and with no major international race being organised, a handful of domestic events besides vehicle testing days contribute to its running cost.

      “Maintaining a big facility like BIC is surely tough but we have been able to do that well despite the constraints,” he said.

      Look at the audacity. Just like Mallya, all the businessmen in India pay to election funds and then they siphon off our money abroad and we after being cheated .........

      keep consolling ourselves....they hv no money that is why they r not constructing the flats

      Will you kindly ask yourselves why they can not be forced to sell off of a 2800 crore worth racing track and forced to deposit that money to court and we get our flats

      That shd be the order had it been abroad, where they could not have escaped us.

      see the links of other dailies below.

      http://timesofindia.indiatimes.com/sports/racing/top-stories/Debt-ridden-Jaypee-Group-has-no-plans-to-sell-F1-track/articleshow/55113966.cms

      http://indiatoday.intoday.in/story/debt-ridden-jaypee-group-has-no-plans-to-sell-formula-1-track/1/797805.html

      https://sports.ndtv.com/formula-1/debt-ridden-jaypee-group-has-no-plans-to-sell-formula-1-track-1586226

      those who support the bankruptcy theory ....pls deny that Sameer Gaur has said in interviews that they are not planning to sell F1 track.

      this is possible in India only ... you can cheat 1000s of buyers of their hard earned money and no authority can force them to sell it and deposit the cash in SC...so that we poor buyers may get our flats
  • Jaypee pays 15% of dues to YEIDA TNN | May 16, 2017, 07.29 AM IST
    GREATER NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) on Monday said that Jaypee (Jaiprakash Associates Ltd) had paid it 15% of the total outstanding amount due for the 1,000hectare plot on which the company has developed a sports city. The Jaypee group has paid Rs 100 crore out of the Rs 600 crore, YEIDA said. The Authority had issued a final notice to the builder in March this year after which the realtor had paid the Authority Rs 10 crore. The next instalment due from Jaypee is Rs 384 crore, which it has to pay by August 31, 2017.

    According to Arunvir Singh, chief executive officer, YEIDA, the developer had been defaulting on its instalments for the past five years. "The land in question was allotted to the developer in three pockets under YEIDA for constructing residential units under Special Development Zone (SDZ) category," he said.

    "Owing to the default by the builder, the allottees are suffering. Currently, the builder has not even started construction on the land. Hence we issued a notice as they did not pay us Rs 90 crore in March. However, we extended the date after they paid us Rs 10 crore. The last date for paying the balance Rs 80 crore was May 15" he explained.

    The developer still has to clear outstanding dues amounting to Rs 300 crore towards the 165-km expressway, which connects Greater Noida to Agra besides Rs 1,200 crore, which has to be distributed as enhanced compensation of 64.7% to farmers in lieu for lands acquired. "However, the matter is sub-judice," Singh said.


    URL: http://timesofindia.indiatimes.com/city/noida/jaypee-pays-15-of-dues-to-yeida/articleshowprint/58691022.cms
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  • Originally Posted by Raojee
    Jaypee pays 15% of dues to YEIDA TNN | May 16, 2017, 07.29 AM IST
    GREATER NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) on Monday said that Jaypee (Jaiprakash Associates Ltd) had paid it 15% of the total outstanding amount due for the 1,000hectare plot on which the company has developed a sports city. The Jaypee group has paid Rs 100 crore out of the Rs 600 crore, YEIDA said. The Authority had issued a final notice to the builder in March this year after which the realtor had paid the Authority Rs 10 crore. The next instalment due from Jaypee is Rs 384 crore, which it has to pay by August 31, 2017.

    According to Arunvir Singh, chief executive officer, YEIDA, the developer had been defaulting on its instalments for the past five years. "The land in question was allotted to the developer in three pockets under YEIDA for constructing residential units under Special Development Zone (SDZ) category," he said.

    "Owing to the default by the builder, the allottees are suffering. Currently, the builder has not even started construction on the land. Hence we issued a notice as they did not pay us Rs 90 crore in March. However, we extended the date after they paid us Rs 10 crore. The last date for paying the balance Rs 80 crore was May 15" he explained.

    The developer still has to clear outstanding dues amounting to Rs 300 crore towards the 165-km expressway, which connects Greater Noida to Agra besides Rs 1,200 crore, which has to be distributed as enhanced compensation of 64.7% to farmers in lieu for lands acquired. "However, the matter is sub-judice," Singh said.


    URL: http://timesofindia.indiatimes.com/city/noida/jaypee-pays-15-of-dues-to-yeida/articleshowprint/58691022.cms


    Read between lines.....

    jaypee builder defaulted payment for 5 long years. YEIDA did nothing. Not even a public statement or notice on website to warn buyers about land default.

    YEIDA issued notice only in March this year, on eve of elections, to save own skin.

    against massive default, only peanuts received that too in small instalments. No guarantee for future payment. YEIDA taking action now only due to new Govt Yogi pressure.

    YIEDA now remembers poor buyers. After many dreams are shuttered and thousands are robbed by the builder.

    Do we need any bigger evidence of unholy collusion between builder and buyer? This is criminal. A public authority acting against own and citizen interests.

    Wish some Court jails these criminal officers of YIEDA.

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  • Originally Posted by SMJ2011


    Read between lines.....

    jaypee builder defaulted payment for 5 long years. YEIDA did nothing. Not even a public statement or notice on website to warn buyers about land default.

    YEIDA issued notice only in March this year, on eve of elections, to save own skin.

    against massive default, only peanuts received that too in small instalments. No guarantee for future payment. YEIDA taking action now only due to new Govt Yogi pressure.

    YIEDA now remembers poor buyers. After many dreams are shuttered and thousands are robbed by the builder.

    Do we need any bigger evidence of unholy collusion between builder and buyer? This is criminal. A public authority acting against own and citizen interests.

    Wish some Court jails these criminal officers of YIEDA.



    Good observation.

    Buyers blame greedy builders, and rightly so. But they don't understand or ignore the role of corrupt babus who do little work and take bribe irrespective of whichever party is in power. And these babus get their salary from taxpayer's money, are not affected by any recession or any job loss, get time bound promotion and huge perks.

    While buyers lose their hard earned money, greedy builders either run away or get jailed once in a while. But these corrupt babus are not touched and they continue their bribery under next govt.
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  • So does anyone know which bank has given 1800 crores to JP as has been claimed ?

    How much of that is going to be used to pay Noida authority ?

    How much will be used to clear existing dues to contractors ?

    How much will be used to pay taxes and fines relating to the formula 1 case ?

    How much will be used to clear defaults on FDs for which criminal case has been registered ?

    How much will be used to refund cancelled projects in Yamuna Expressway that YEIDA has cancelled ?

    How much will be used to pay farmers enhanced compensation for their land ?

    How much will be used to pay lawyers who are fighting Jaypee's own customers in court ?

    If JP loses case in Supreme Court, how much will be used to pay Kalypso Court customers ?

    Finally after all this how muchly​, if anything, will be left for completing Wishtown ?
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  • does it mean we can stop paying emi and banks witll recover money from land sale proceedings? or will jaypee have money to finish construction? if yes then how?
    in this deal i only see benefits of institutional investor like banks and not end users or buyers. only bet we can now have is on jewar airport. if it is announced in next few months then only jaypee landprice will shoot up and jp will have money to sell it good price and in turn use it for finishing the construction.
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  • sir construction has started and picked up pace. i went to see a apartment today.
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  • Originally Posted by anjanpanda00
    Finally some good news for jaypee buyers...

    http://wap.business-standard.com/article/companies/bankers-to-take-over-jaypee-s-land-bank-to-recover-loans-117051900085_1.html


    This is terrible news for buyers. Banks have succeeded in ring fencing all the valuable JP assets for themselves. Nothing will be left for buyers now, even if courts give judgements in their favor.
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  • Originally Posted by Truenity

    This is terrible news for buyers. Banks have succeeded in ring fencing all the valuable JP assets for themselves. Nothing will be left for buyers now, even if courts give judgements in their favor.


    In opposite, it's a good news. Jaypee should have sold part of this plot at peak time for the loan payment.
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