What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

Cheers! :)
Read more
Reply
8003 Replies
Sort by :Filter by :
  • Originally Posted by enduser13
    Yes of course, I meant it was considered the best builder by one and all, untill the bubble burst. It's quality has always been good. Go check expressway and Jaypee greens in greater Noida. But greed by both the builder and homebuyers caused it's downfall.

    Ok, then why have you deleted your post where you said it was a very good time to invest in JP and to buy your dream home ? Are you not sure if you want to buy your dream home in a township where all the infrastructure is supposed to be managed by a company that is about to go bankrupt and Noida authority won't even change a screw in a streetlight ?
    CommentQuote
  • My friend, you are either hallucinating or taking it personally. Please don't . Forget Jaypee, I won't even buy any under-construction property even for 90%. Bro, if you are one of the investors , then don't feel offended, I didn't mean to call you greedy or stupid personally. But you can never be too sure..lol.
    CommentQuote
  • Originally Posted by enduser13
    My friend, you are either hallucinating or taking it personally. Please don't . Forget Jaypee, I won't even buy any under-construction property even for 90%. Bro, if you are one of the investors , then don't feel offended, I didn't mean to call you greedy or stupid personally. But you can never be too sure..lol.


    @MANOJa sir,

    This person had made a post that it was a great time to invest in Jaypee and she/he was planning to buy his dream home there. Now he has deleted the post and is claiming I am hallucinating. Please check your records to confirm what the truth is. I think he might be a planted mole who is making random posts to derail the discussion from the substantive issue that JP is going bankrupt and Wishtown will be left a big incomplete mess.
    CommentQuote
  • Complain all you want. I never said I will never buy in Jaypee. I only said that I will not buy under-construction property because I don't want to make the same mistakes like many of the people in wishtown. I didn't not use any foul language or insultm why ban me?
    CommentQuote
  • Originally Posted by Truenity


    @MANOJa sir,

    This person had made a post that it was a great time to invest in Jaypee and she/he was planning to buy his dream home there. Now he has deleted the post and is claiming I am hallucinating. Please check your records to confirm what the truth is. I think he might be a planted mole who is making random posts to derail the discussion from the substantive issue that JP is going bankrupt and Wishtown will be left a big incomplete mess.


    The said user has been suspended for 1 week . if he again tries to create mischief, let me know .
    CommentQuote
  • Originally Posted by Grenoite
    Sirji, if someone is coming from dnd to expressway the first building they see is abandon building near sector 15a by 3c, then when they enter expressway on right side see many incomplete buildings by supertech, bptp ,etc..on left unitech golf project abandon and on right wishtown abandon.

    This is what one see, now think what bad bad impression it makes on region. Biggest projects are flopping and give bad look and image of Noida which would have been best in delhi ncr

    Imagine if these projects were complete and full light and glowing like one see when enter gurgaon

    Only building which attract eye is ats hamlet light, advant and ats pristine, at night spl.

    The buildings in commercial zone also look very ugly and no modern, only advant look good

    I really wish more developing and look good so image of Noida is of modern city than a plave where builder cheat people

    It feels nice to wish and imagine one's dreams, but the stark reality is that JP is going to be put through the bankruptcy process pretty soon and home buyers will lose all their investments.

    Please try to keep the discussion focussed on facts and reality rather than dreams and imagination.
    CommentQuote
    2 Comments
    • Grenoite1 years ago
      Sirji...pls read my comment. I have talk aboit reality only and name of other builders, u r concentrate only on jaypee.
      Dnd to noida expressway, 3c, bptp, unitech, supertech, sikka, jaypee all have incomplete projects which i hv talk about

      If u want only people to bash jaypee because you want so...to sirji aisa to nahin hoga
  • Originally Posted by Truenity

    It feels nice to wish and imagine one's dreams, but the stark reality is that JP is going to be put through the bankruptcy process pretty soon and home buyers will lose all their investments.

    Please try to keep the discussion focussed on facts and reality rather than dreams and imagination.


    So true.

    But its not surprising that JP is going bankrupt.

    What I find really surprising is that some people still think (or at least till few weeks ago) that JP can repay debt anytime by selling a fraction of its 'huge land bank'. Some people still see 'land bank' as a big asset that can monetized anytime.
    CommentQuote
  • When would jp go bankrupt? This year , 2018, 2019, 2020 or when
    CommentQuote
  • I say 2018
    CommentQuote
  • Originally Posted by NamoDya
    When would jp go bankrupt? This year , 2018, 2019, 2020 or when

    Bankruptcy proceedings are supposed to start anytime within a month, according to the RBI directive and get to the liquidation state in up to 270 days. This is the legal and technical situation.

    For all practical purposes, JP has been defaulting and been in an insolvent state for a while now. The only reason it ( and many other companies) has not already been bankrupted is the lack of a clearly defined framework and the reluctance of bank to admit that they made bad credit decisions and to recognize losses.

    The formal directive does make things much worse for day to day operations, though. Any contractor or supplier that does work on credit for JP, which is a common practice in the industry, is now almost certain to not get paid from a legal perspective. The same is true for employees whose salaries are delayed. So, the impact of this development will be felt almost immediately.
    CommentQuote
    1 Comments
  • So what should customers do ?
    CommentQuote
  • Originally Posted by bhuwan
    So what should customers do ?


    Many people on this forum had been advising people to get out of and stay away from JP projects. For those who have not followed this advice, it might be too late to do anything. If banks are going to be forced to take losses, customers, who are much lower in the bankruptcy credit waterfall, are unlikely to get anything. However, each person's legal situation is unique and one should consult a qualified lawyer for specific advice.

    If the majority of customers can organize themselves as a group, which is quite unlikely, they can petition to ring fence specific assets that are still unencumbered, which can then be used to finance construction of their homes. For example, they can try to get control of the golf course, get land use changed, ask for FAR increase and sell it to some builder who can sell new towers there in return for completing construction of incomplete projects.

    This is just a hypothetical suggestion. Bankruptcy under the new code is unprecedented and no one knows how exactly it will proceed, but it is certainly a good idea for everyone affected to get individual qualified legal advice to see what options, if any, they have.
    CommentQuote
  • Bankruptcy proceedings of JP will formally start soon as per RBI directive. NPA is a huge problem for Banking sector and Political Govt has tried to avoid it since long time.

    Whereas RBI has issued the directive, there is still lack of clarity how this thing will Pan out. The Banking regulations amendment to handle NPA mess is again full of loopholes.

    Anyway, there will be 3 key players involved. PSU Banks, Private Sec Banks & other Creditors. All 3 will be looking to grab hold of JP leftover assets. There is absolutely no voice of customers of JP RE sector in Bankruptcy proceedings. Whereas actual Bankruptcy may take time, the spigot of money of JP will stop very very soon.

    If there was a Buyers association of JP project, they should be carefully study the unencumbered RE assets of JP and use legal means to ring fence these assets. Sale of these assets is the only hope for incomplete projects.

    Political Govt don't wanna touch clean up of RE sector with 10 ft poll. RE bill was prepared by previous Govt long ago but they delayed the passage by several years. Finally present Govt had the bill on its table but they again delayed the passage. Even after passage they delayed implementation by 1 year at least. RE clean up will start aggressively in 2019 that will result in bankruptcy of major RE players.
    CommentQuote
  • Certainly a bad news for Jaypee. However Liquidation shall come into picture only when Resolution is not found in 270 days, and we can hope a plan like debt restructuring/sale of assets/haircut on bank interest can be worked out . Company's day to day operations (Read construction at site) need not stop for all this period, but yes that will come under further stress.
    CommentQuote
  • Originally Posted by Grenoite
    Sirji, everyone talking big banks, rbi, land deals but i have one question

    If land, then surely banks will like to take it, hospital, hotel, golf course any other party can take as no other people involve

    Bit what about flat projects which sold to 1000s of buyers, will bank be even interested to take over it ? As they will also have to deal with buyers , will they want it ? I think no

    I have hear rumours that jaypee gave commercial plot to paras builder in exchange for it to complete one of their project

    I think if thats real happen then it could be a way out

    Something like that can help buyers who stuck

    I sure no bank will like to take over project land where flats half make and 1000s of buyers involve


    That is right. Banks don't want to be involved in the mess of dealing with thousands of buyers. That is why they invoked SDR in the case of JP Power and JP Associates, but not in the case of JP Infratech.

    The most likely scenario is that all assets will be auctioned off and because it's a fire sale , there won't be enough to pay off lenders. It is a legal way for JP management to wash their hands off the mess as the company will be wound up and customers, contractors etc will be left holding the bag. Once the bankruptcy proceedings are over, the promoter family can make a fresh start.
    CommentQuote