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
8001 Replies
Sort by :Filter by :
  • The question by Mr @raabta reflects his utter ignorance and exposes his agenda of provoking me as the RBI had absolutely nothing to do with the matter discussed in the news story.
    CommentQuote
    1 Comments
    • raabta11 months ago
      The question was not even directed to you.
      You say RBI has given them the danda and they have no option but to go along

      In this case they did not go along. What happened? Did RBI's danda became toothpick?
  • Originally Posted by Truenity
    The question by Mr @raabta reflects his utter ignorance and exposes his agenda of provoking me as the RBI had absolutely nothing to do with the matter discussed in the news story.


    You are saying that liquidity is imminent.
    The article proves you wrong.
    CommentQuote
  • Liquidity, who said anything about liquidity. That's not happening. Wishtown will be made. Sabka perspective:


    1. RBI - wants to ensure npa's are not let off easy and banks actually get some money back
    2. banks/lenders - to get their money from Jaypee and flat owners
    3. Buyers - to get their flats
    4. Authorities - to get their extended dues for the plot of land as they had to pay farmers more than envisioned OR get land back
    5. Jaypee - somehow walk away from this unscathed (and not in Jail)
    6. IP - make some money in any case and increase THEIR chances of a payout
    7. Govt - possibly to make money any which way but from the looks of it - act as the saviour vis-a-vis previous (uncaring) govt with a view towards next elections

    Let me tell you all this - the ONLY way all of this will happen is to NOT liquidate and for WT to get completed.

    Try and liquidate Jaypee Infra - see what you get - thainga (only because the concessionaire agreement says no - lease wise cancel Nahin hogi kuch sau crore ke liye)


    CommentQuote
    1 Comments
    • raabta11 months ago
      I absolutely agree. This is logical and everybody wins.

  • Tindin's arguments make a lot of sense. In fact, they are the same arguments that have been made for over 5 years to continue the status quo. Unfortunately, neither the banks nor the customers have gotten anything out of it.

    What Tindin doesn't realize is that the IBC referral is a complete game changer. Even if banks don't want to go down the bankruptcy option, they have no choice anymore, as the process has essentially been taken out of their hands and will now be driven by the resolution professional appointment by the NCLT.

    By the way, about the supreme Court intervention in the insolvency case, it is very clearly stated that the SC has acted using its special powers as a one-off case and not given a legal opinion that establishes a precedent. So, it has no impact on any other insolvency case.
    CommentQuote
  • Kya Baat Kar rahe ho Truenity sahab.

    nothing is game changer, infact how do u know it is a game changer, it has never happened before

    let me tell u what I know. A friend who works with Jaypee knows the actual KPMG ppl involved in this

    When asked how they intended to turn around the business, they were clueless, you think they know how to approach geographic centric, domain specific businesses - Unhe Jaypee se zyaada pata hai ki township mein customer ko kaise patana hai ya contractor ko kaise nachana hai ya authority ko Kaise ghumana hai

    Jaypee is from these parts of the woods of western UP and have huge respect because of Senior Gaur sahib.

    KPMG is good at improving processes or micro level improvements

    The mandate with KPMG is to broker an effective deal so most stakeholders walk away happy

    Nahin mante to NA maano, samey Sab bata Sega. Ho Sakta hai aap hi correct hon
    CommentQuote
  • Originally Posted by Tindin
    Kya Baat Kar rahe ho Truenity sahab.

    nothing is game changer, infact how do u know it is a game changer, it has never happened before

    let me tell u what I know. A friend who works with Jaypee knows the actual KPMG ppl involved in this

    When asked how they intended to turn around the business, they were clueless, you think they know how to approach geographic centric, domain specific businesses - Unhe Jaypee se zyaada pata hai ki township mein customer ko kaise patana hai ya contractor ko kaise nachana hai ya authority ko Kaise ghumana hai

    Jaypee is from these parts of the woods of western UP and have huge respect because of Senior Gaur sahib.

    KPMG is good at improving processes or micro level improvements

    The mandate with KPMG is to broker an effective deal so most stakeholders walk away happy

    Nahin mante to NA maano, samey Sab bata Sega. Ho Sakta hai aap hi correct hon


    Tindin Sir and Members ,
    This is without prejudice to anyone .

    Let me provide some snippets about this JP Group and its founder with help of my forty one years of experience .

    Mr. JP Gaur has done diploma in civil engineering and worked as juinior engineer in the Uttar Pradesh irrigation department, but he was suspended of the charges of corruption and after that he started his own business which later on became the Jaypee Group. This company was started as civil contractor business.He took some grant (initial money )from his paternal aunt ( Bua Ji) and started as a "pioneer" . Once he flourished, he bought residential plots for his family and Bua's family, of-course, due to the high esteem for Bua Ji, in Vasant Vihar Delhi (and also commercial plots , which are now used as JayPee Vasant - Siddharth Continental hotel and JA house). As he has high regards and obligation for Bua Ji , so he always buy gifts ( as an example, say gadgets like air conditioners) first for extended family(read Bua Ji's clan ) and subsequently for his own family .
    Note - This Vasant vihar hotel and another hotel called JayPee siddharth hotel in Pusa Road, Karol Bagh area are worst( 4/5 star )hotels of our country .So no focus ever on customer delight, leave alone customer satisfaction.
    So much for the preliminary source of business capital .
    JP group tried to expand with break neck speed and seem to have bitten more than it could chew . It surely had excellent rapport with BSP party/government , which catapulted them into "major" real estate player . Some other day, I would comment on their power, hydro power , cement business -current and erstwhile.
    But, surely , fraudster is an apt moniker for them .
    So called new ventures of theirs - hospital. college, hotel, Grand prix formula one have indeed proven to be their nemesis, inherently due to their bad intention of money laundering and siphoning of fund into same . Mind it , if proven legally , this money laundering is indeed a very serious crime which can result in severe punishment .

    I have never met senior Gaur - hat is. Mr JP Gaur ,so may give him benefit of doubt , but the current CMD Manoj Gaur does not deserve any sympathy , whatsoever. Surely man, this guy has mesmerizing or rather hypnotic abilities to influence his stakeholders and audience.. As an example, If you meet him and talk to him, you will start singing his tune !

    Though , I can go on and on , but my aim is just to highlight the crux, that, JP group had traveled to great heights , due to this misnomer called reputation and too big to fail syndrome . Now it is in all shatters and aggrieved party should rely on legal recourse without giving benefit of doubt to anyone .Customers should build pressure on JP owners., so that they do an honest introspection, as why the owners are still living in 100 crore rupee plus houses , flying in private airplanes, driving luxury cars , when the customers' life has been made miserable !

    Peace .
    CommentQuote
  • Originally Posted by disposition
    Full disclosure: I own a property in JP.

    I still rate the entire project to be in critical danger.

    I like enthusiasm of a few members. I've supported JP WT for years in the past. But fact is that it would be wholly incorrect for anyone to say that the situation has changed drastically. Whoever says that pressure from buyers must continue is doing US a favor. It is a HUGE project which is still YEARS from delivery. JP is still a BIG defaulter & a big risk factor. Don't let anyone fool you otherwise.

    We've put our sweat & blood into these properties & we cannot let a board run by incompetent businessmen - who got to their positions because of nepotism & not experience or qualifications - run our earnings & dreams into a sinkhole.

    Some minor battles may have been won, but prospects of the war remain bleak.

    If after 10 years of wait, JP puts labor on the field or pays some defaulted overdue installments/ payments - it does not make this mammoth defaulter of an enterprise a saint.
    We need to keep the pressure on.

    What is the point of expensive properties if towers in the neighbourhood are unfinished & ghostly?
    What's the point of a Golf Course where club-house / premier towers have been under construction for eternity & will remain God knows for how long?


    They took our money, blew it up. And are now struggling to fund construction. Compared to a multi-billion dollar enterprise, we as individuals are small fry. We need AT LEAST a good 2 years of solid & steady work to regain any sort of faith that WT will actually emerge anywhere close to what we were told.

    Don't be fooled by anything else. The proof is in the pudding. Those who've been invested in JP for 10 years have seen how badly the investments have fared. All through this, we've been sold on the idea that 'NOW things will change for the better'. No. Things will get better when we see WT close to being finished - and even with full labour and effort that is 5-10 years away.

    I regret not having invested in adjoining areas where returns in the same period have been nearly TWICE of WT.

    Fool me once, shame on you. Fool me twice, shame on me.


    What is the Risk in buying RTM registered property?
    CommentQuote
    1 Comments
  • Originally Posted by flatowner2


    What is the Risk in buying RTM registered property?


    Could comment better if you shared which property / project. I visited WT this week & could share inputs - you could PM me for this.
    There are risks of course. Generally speaking:

    First, it's probably not the best value for your money. RE prices are down everywhere & you'll get safer properties at terrific prices.

    Second, IMHO handing over possession does not make a property RTM. WT is a massive township where every project connects with another. What good is a RTM property if surrounded by acres of undeveloped land/ is mired in controversy/ ghostly towers/ labor/ villagers/ dusty roads/ etc.

    Third, I feel WT is a good 10 yrs away from being premium. That is, if JP is able to utilise the narrow window of opportunity it has to even complete WT.

    Fourth, the legal & financial uncertainties surrounding the project make it volatile - we are counting on JP to complete the whole project & then to maintain and keep it developed for many decades to come. The last 8 yrs have given me a lot of anxiety about whether JP will be able to fulfill these promises one day.

    ... I'm sure there are other reasons to consider as well.. But would be easier to comment with more details about the property.

    Hope it helps.
    CommentQuote
    2 Comments
    • FTDFTD11 months ago
      Not true.
      Sector 128 and 134 of Jaypee are fully liveable. More than 2000 families are living with all festival celebrations and social gatherings in club houses.
      Kalypso imperial and pavilion in sec 128 are having good gentry and class.
  • Hello to all. So what is the decision/outcome finally. Is the project getting liquidated and we lose our hard earned money.
    Or is there a ray of hope.
    If it get liquidated then only winners are Jaypee Group.
    Serves us right for trying to buy a flat. All these builders only rip us off our hard earned money
    CommentQuote
  • No I at least don't think so. Despite all that has gone down, I still believe that Jaypee Wishtown is just too big to default on. Most will get their homes - but perhaps not with the same quality of fittings and fixtures, building material etc., as what they had signed up for. And of course, they will get them very very late. As for some of their super deluxe projects, there is reason to believe it will change hands and buyers may have to cough up more money.
    CommentQuote
  • ET Realty
    Jaypee pays another Rs 300 crore to YEIDA for sports city The developer had already paid YEIDA Rs 110 crore in May this year. The total outstanding amount towards this project is Rs 600 crore
    Vandana Keelor | TNN | August 03, 2017, 07:41 IST

    GREATER NOIDA: The Yamuna Expressway Industrial Development Authority on Wednesday said Jaiprakash Associates (Jaypee) had paid them Rs 300 crore as second instalment for the Rs 1,000 hectare land on which the company had developed a sports city in YEIDA area.

    The developer had already paid YEIDA Rs 110 crore in May this year. The total outstanding amount towards this project is Rs 600 crore.

    According to Arunvir Singh, YEIDA chief executive officer (CEO), the developer has been defaulting on its instalments for land allotted in the past five years. “The land in question was allotted to the developer in the YEIDA area for constructing residential units under the special development zone (SDZ) category,” the CEO said.

    “Owing to the default by the builder, the allottees are suffering. Since the builder had not even started construction on the land, we had issued a show cause notice. We warned the developor of stringent action if he did not pay us Rs 90 crore in March this year. However, we extended the date after they paid us Rs 10 crore. Thereafter, they paid us another Rs 100 crore on May 15,” said Singh.

    “Till now, we have received a total of Rs 410 crore and we will now put in place a rescheduled payment plan for the developer after which he will start paying the instalments of balance dues,” he added.

    The developer still has to clear other outstanding dues amounting to Rs 450 crore.

    Jaypee Infratech has confirmed the deposit. “We will meet all our future commitments, too,” said an official.

    URL: http://realty.economictimes.indiatimes.com/news/industry/jaypee-pays-another-rs-300-crore-to-yeida-for-sports-city/59891489
    CommentQuote
  • https://www.outlookindia.com/newsscr...-765cr/1117151

    good news after a long time
    Jaiprakash Associates back in black with Q1 profit at Rs 765cr
    CommentQuote
    1 Comments
    • jpkrak11 months ago
      what does this mean for people who have been waiting on their flats?
  • never
    CommentQuote
    1 Comments
    • jpkrak11 months ago
      anything constructive to add buddy?
  • Jaypee wish town projects will come in rera or not
    Like garden isles
    CommentQuote
  • Originally Posted by hkhurana
    Jaypee wish town projects will come in rera or not
    Like garden isles


    Yes, it will come under RERA...all ongoing projects where completion certificate is not given will have to be registered under RERA.
    CommentQuote