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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  • Home buyers have no say before nclt regarding bankruptcy. They will rank below even JP's contractors vendors and employees in the queue to get their money back :

    However, NCLT refused to admit the petition, saying that the buyers were not financial/operational creditors under the definition of IBC.

    “Such a ruling might be used as a reference for dealing with future cases on the issue. However, we have to wait till the IBC evolves and how future verdicts are delivered. Therefore, looking at the current situation, the best way for seeking relief for non-delivery would be under Real Estate (Regulation and Development) Act 2016,” Mr. Dhanapal said.

    http://www.thehindu.com/news/national/tamil-nadu/home-buyers-exploring-options-against-errant-builders/article19241869.ece


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  • Originally Posted by MANOJa


    How do I ignore another member?

    If there are particular members that are bothering you and you do not wish to see their posts or receive Private Messages from them, then you can add these members to your 'Ignore List'.

    In the top right of the forum, click your Username. A dropdown menu will appear and from here you need to select 'User Settings'. On the page that appears, click 'Account' and scroll to the bottom. In the text area next to 'Ignore List', enter the Usernames of users that you want to Ignore.


    Thnx.... Done☺
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  • Jaypee mgt has reassured all investors n buyers that Co will try being debt light and whether we can be a zero debt company.

    After cement sale to UltraTech for Rs 16,200 crore and the Rs 13,000-crore land bank arrangement, JAL's debt would be around `6,000 crore, down from over Rs 30,000 crore at the end of March.

    JAL has significant real estate opportunity and emphasis will be to maximise the opportunities available in the field of E&C (engineering and construction) and real estate going forward.
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  • Jewar airport to reinvigorate Greater Noida housing sector: Industry
    With the decks being cleared for the construction of a second airport for the capital at Jewar in Uttar Pradesh, the residential segment in Greater Noida and along the Yamuna Expressway, in a slump over the last two to three years, will become vibrant once again, say industry experts and stakeholders.

    
    IANS| Last Updated: Sunday, July 9, 2017 - 12:42
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    New Delhi: With the decks being cleared for the construction of a second airport for the capital at Jewar in Uttar Pradesh, the residential segment in Greater Noida and along the Yamuna Expressway, in a slump over the last two to three years, will become vibrant once again, say industry experts and stakeholders.

    "Any infrastructure intervention of this scale would have a positive impact on economic activity, especially in the tourism, industrial, information technology enabled services (ITeS) and commercial sectors," Anshuman Magazine, Chairman, CBRE India & South East Asia, told IANS.

    "Additionally, with commercial activities getting a fillip, there will also be a corresponding positive impact on the residential segment," he added.


    The immediate positive impact is expected to be felt in areas which fall within a radius of 30-40 km of the airport -- in this instance, the Yamuna Expressway, Greater Noida and Noida.

    "However, as a result of the activity in the primary radius, the subsequent impact would also be felt in a secondary impact zone of 50-60 km," Magazine said.

    But it will be a while before the impact is felt. "As the airport has been in planning stages for some time, the impact is expected to be more gradual than immediate, based on the pace of development activity," he noted.

    "We have to keep in mind the overall period which would be required to construct and operationalise the airport. The current approval is one of the many which would be required at various stages of planning and implementation," cautioned Rohan Sharma, Associate Director - Research and Real Estate Intelligence Service, JLL India.

    "The impact would be felt once the actual development of the airport starts."

    Still, this significant infrastructure project was needed to restore interest in neighbouring housing projects that were caught in a slump.

    "These regions were witnessing dampened demand as they were more investor-driven than by end users. For these areas to become end-user-centric, sound infrastructure must be in place. The airport will ultimately result in higher housing demand and better price appreciation," Jaffer Ali, Founder and CEO, PropUrban, told IANS.

    "Despite being more affordable than areas such as Gurgaon and Delhi, Greater Noida and the stretch along Yamuna Expressway have not become end-user-driven markets due to lack of infrastructure facilities. The new airport will boost the region`s overall infrastructure and make it more livable and active," he said.

    With increased connectivity and several infrastructure upgrades on the anvil, the Greater Noida and Yamuna Expressway areas are likely to also emerge as alternate affordable options for first-time home buyers.

    "People will begin to recognise the viability of real estate investment in these two areas. It will usher in a large amount of residential and commercial activity," Dharmesh Jain, President, Confederation of Real Estate Developers` Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI), told IANS.

    The enhanced economic activity in the region will also have a strong influence on sectors across categories.

    "The upcoming airport will trigger much-awaited economic activity, positively impacting employment, businesses and development... Multinational companies are expected to initiate operations in and around Jewar, which in turn will provide substantial impetus for job creation," Jain said.

    According to Supertech Chairman R.K. Arora, the government will, in the first phase, develop 1,000 hectares land for the proposed airport that will help reduce congestion at the Delhi airport.

    Simultaneously, the new airport would also boost the tourism industry in nearby cities and have good connectivity thanks to the Yamuna Expressway.

    "It will boost tourism in cities like Mathura and Agra. These cities are already well-connected with the national capital via the Yamuna Expressway, but the new airport will increase tourist footfalls. All this will eventually impact the real estate markets in these cities as well," PropUrban`s Ali noted.

    "The fact that Jewar Airport is closer to Noida makes it accessible and easy for a large population. This will help boost economic activity, tourism and connectivity in the whole of western Uttar Pradesh," said Nibhrant Shah, Founder and CEO, Isprava, a luxury realty firm promoted by Nadir Godrej.
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  • A tier 1 developer is in talks to acquire land in wishtown and sportscity. Prices may spurt afterwards
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  • Originally Posted by raabta
    A tier 1 developer is in talks to acquire land in wishtown and sportscity. Prices may spurt afterwards


    JP has already given land to tier 1 developers like Bayaweaver OMG and JC World in Wishtown. How will that affect prices of JP projects that will never be completed ?
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    1 Comments
    • raabta1 years ago
      Tier 1....real tier 1
  • Value of land more than 10 cr per एकड़.... Huge!!!!

    As per inside news SpV land will have joint developments with tier 1 developer.... Deal announcement in few days.
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  • One large PE investor having recently made investments in Ncr also shown interest in land SPV.

    Any economic benefits of this SPV after paying debt will accrue to Jaypee only plus value of its land in vicinity of the area will go up substantially. Watch out for Jaypee this week!!!!!
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  • Originally Posted by aONEinvestor
    Value of land more than 10 cr per एकड़.... Huge!!!!

    As per inside news SpV land will have joint developments with tier 1 developer.... Deal announcement in few days.


    Mr Manoj Gaur has himself clarified that JP Associates has transferred the land to a SPV and banks are going to be beneficial owners of this land going forward. The only reason an outright sale has not been made is to avoid paying stamp duty.

    Even if some deal gets done, it will only help reduce the huge hole of the debt burden.

    Not a single paisa will accrue to either JP Associates or JP infratech and certainly nothing will go towards wish town.

    What I had predicted long ago has come true. JP has been stripped of all of its valuable assets and only a runt of a company is stuck with the liabilities of Wishtown.
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  • Originally Posted by Truenity


    Mr Manoj Gaur has himself clarified that JP Associates has transferred the land to a SPV and banks are going to be beneficial owners of this land going forward. The only reason an outright sale has not been made is to avoid paying stamp duty.

    Even if some deal gets done, it will only help reduce the huge hole of the debt burden.

    Not a single paisa will accrue to either JP Associates or JP infratech and certainly nothing will go towards wish town.

    What I had predicted long ago has come true. JP has been stripped of all of its valuable assets and only a runt of a company is stuck with the liabilities of Wishtown.


    Did lenders file case against jaypee for liquadation in NCLT ?
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  • Originally Posted by bhuwan


    Did lenders file case against jaypee for liquadation in NCLT ?

    I don't know, but unless they want to violate the directives from the RBI, I am guessing at some point they will.
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    1 Comments
    • Vbb1281 years ago
      Rbi has not directed anyone to liquidate the 12 compaines. That is a possible outcome if no resolution plan can be worked up. I would request all members to state facts and not resort to fear mongering as it does not help any of the impacted people. It's easy for anyone sitting on the fence to provide words of wisdom and harsh criticism but in the end it needs to be backed up by facts. Also it is not lost on other members that some of the contributors take sadistic pleasure in bashing Jaypee while the situation is not too different for other real estate developers. It does not take a science degree, far less a PHD to know that in difficult times good citizens provide others hope, show empathy and suggest solutions. Redeculing those who are stuck in this situation is neither dignified nor rational. I hope good sense shall prevail and we can get back to sharing facts and constructive discussion.
  • Originally Posted by bhuwan


    Did lenders file case against jaypee for liquadation in NCLT ?


    Jaiprakash associates has become the regular account with the banks having NPA Tag gone after debt repayment n creation of land SPV.

    Jaypee infra case will also be restructured n having huge land bank will easily find solution to its debt problems. If lenders can create SPV for JAL then there is no logic for no doing this for JIL.JIL has even more land bank than JAL n yamuna expressway. Ppl should apply common sense which is not common though.
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  • Originally Posted by aONEinvestor


    Jaiprakash associates has become the regular account with the banks having NPA Tag gone after debt repayment n creation of land SPV.

    Jaypee infra case will also be restructured n having huge land bank will easily find solution to its debt problems. If lenders can create SPV for JAL then there is no logic for no doing this for JIL.JIL has even more land bank than JAL n yamuna expressway. Ppl should apply common sense which is not common though.

    If the solution is so easy, why wasn't it found until RBI directed banks to file bankruptcy petition against JP infratech and why is JP management completely silent about JIL ? Most of JP's assets have already been taken over by banks.What specific unencumbered land banks does JIL and where is the buyer for it ? Or has any bank stated they are willing to take it over in lieu of debt ?

    Hope is not a strategy , especially not hoping to fool people with blatant untruths.
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  • Rbi has not directed anyone to liquidate the 12 compaines. That is a possible outcome if no resolution plan can be worked up. I would request all members to state facts and not resort to fear mongering as it does not help any of the impacted people. It's easy for anyone sitting on the fence to provide words of wisdom and harsh criticism but in the end it needs to be backed up by facts. Also it is not lost on other members that some of the contributors take sadistic pleasure in bashing Jaypee while the situation is not too different for other real estate developers. It does not take a science degree, far less a PHD to know that in difficult times good citizens provide others hope, show empathy and suggest solutions. Redeculing those who are stuck in this situation is neither dignified nor rational. I hope good sense shall prevail and we can get back to sharing facts and constructive discussion.
    CommentQuote
  • Originally Posted by Vbb128
    Rbi has not directed anyone to liquidate the 12 compaines. That is a possible outcome if no resolution plan can be worked up. I would request all members to state facts and not resort to fear mongering as it does not help any of the impacted people. It's easy for anyone sitting on the fence to provide words of wisdom and harsh criticism but in the end it needs to be backed up by facts. Also it is not lost on other members that some of the contributors take sadistic pleasure in bashing Jaypee while the situation is not too different for other real estate developers. It does not take a science degree, far less a PHD to know that in difficult times good citizens provide others hope, show empathy and suggest solutions. Redeculing those who are stuck in this situation is neither dignified nor rational. I hope good sense shall prevail and we can get back to sharing facts and constructive discussion.

    No one has said RBI has directed banks to liquidate companies , only that it has directed them to initiate bankruptcy proceedings.

    http://www.huffingtonpost.in/2017/06/14/rbi-pushes-12-biggest-defaulters-into-bankruptcy-proceedings-he_a_22188849/

    Get your own facts right before requesting others to do so.

    Noida does have many third rate developers, but not all of them are facing possible bankruptcy.
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    1 Comments
    • Vbb1281 years ago
      Truenity
      Truenity
      New Member
      Join Date: Sep 2016 Posts: 535
      Re : Jaypee Greens Wishtown, Noida
      Originally posted by bhuwan

      Did lenders file case against jaypee for liquadation in NCLT ?
      I don't know, but unless they want to violate the directives from the RBI, I am guessing at some point they will.