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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  • TOI

    Jaypee Infra projects will go on: Noida Authority

    Vandana Keelor | TNN | Aug 13, 2017, 06:03 AM



    NOIDA: The Noida Authority on Saturday said insolvency proceedings against Jaypee Infratech would not come in the way of construction work at its delayed housing projects, including Wish Town.


    The announcement was made by Noida CEO Amit Mohan Prasad after a meeting with Jaypee Infratech managing director Manoj Gaur, senior officials from IDBI Bank, which has filed the insolvency plea at the National Company Law Tribunal (NCLT), and the interim resolution professional appointed by NCLT. Prasad also said 500 units at Wish Town, Jaypee's mega housing project in Sector 128, could be delivered in September.


    Prasad said he has directed Gaur to draw up a resolution plan, which is to be submitted to NCLT, in the interest of homebuyers. The CEO also said that he had asked the realtor to ensure work at Wish Town, where nearly 27,000 flats are still to be delivered, does not stop. "I have asked the builder to make sure construction work in the township across 26 projects does not stop and completion of units is achieved," Prasad

    The Noida Authority will continue to give completion certificates to Jaypee's projects as soon they are completed and the company applies for it. "This will ensure homebuyers will continue to get possession of their houses after the registration process is complete," Prasad said. "In the last month, the builder handed over possession of about 1,000 residential units. The company is likely to hand over possession of another 500 units next month. This process will continue and buyers need not panic," he urged.

    Prasad has also asked Gaur to keep communication channels open with the homebuyers. "I have asked Gaur to keep homebuyers abreast of the situation being faced by the group," he said.

    Jaypee had promised to complete 6,000 flats at Wish Town by March 2018, 8,000 more in 2018-19 and the remaining by 2020. It has already delivered 6,500 flats. Jaypee did not respond to calls for a comment. Interim resolution professional Anuj Jain made a public announcement, asking creditors of Jaypee Infratech to submit proof of their claims on or before August 24.

    URL: h://timesofindia.indiatimes.com/city/noida/jaypee-infra-projects-will-go-on-noida-authority/articleshow/60040937.cms
    CommentQuote


  • PROTEST AT PMO, DELHI

    ON NEXT SATURDAY 19 AUG 2017, @11am.


    ALL WISH TOWN BUYERS INVITED WITH FAMILY. INVITE OTHERS. APPOINT LEADERS.

    No matter which other political party joins or supports us. We are on our own. NCLT Laws are against us. No other court (Civil/NCRDC) can precedes NCLT.

    Also, NCLT is works on rules and acts passed by Ministry of Corporate Affairs (Central).

    So, only central govt can help, beacuse no such incident happened in past.

    JOIN HANDS TOGETHER TO PROTEST PEACEFULLY AT PMO, DELHI @11am.

    CommentQuote
  • Why we indians are so corrupt ?
    CommentQuote
    1 Comments
    • flatowner210 months ago
      because they don't care about country, for them first family, then caste, community and thats it.
      rest goto hell.
  • Details given on http://www.jaypeeinfratech.com/ about public notice given by IRP and the process for filing the claim. As i understood, home buyers can submit claim by submitting Form B (By Post, in person or electronic means) to the given address of IRP in Delhi before 24-Aug-17.
    CommentQuote
    2 Comments
    • Devdas10 months ago
      It is form C as per today's Hindustan Times
  • Originally Posted by Bharatiya
    NCLT Bankruptcy proceedings are WRONG approach to solve JP situation. Of course JP is Bankrupt but before talking about any kind of revival plan or liquidation. The BIGGEST question is how did JP Fail? JP management as well as Govt Babus should be put to investigation for their criminal malpractice and fraud. Where did all the bank loans go? Where did all the home buyers money go? Why JP didn't built homes even when they had all the money to build it? Where did the funds go? Where were they siphoned off? Who were the people involved in all the wrong and illegal decisions that sunk JP?

    Govt is covering up all these critical questions by simply putting JP through Bankruptcy. JP management, Govt officials, Bank CEOs who were responsible for huge criminality behind the collapse of JP are let off. Now home buyers are thrown under the bus to cover for incompetence and corruption of JP as well as Govt.



    Things JP buyers needs to do.


    1. Become a party in NCLT proceedings. Technically and legally, home buyers have no stake in these proceedings. BUT PRACTICALLY, they have the greatest stake in these proceedings. For Banks, JP represents some red ink on their balance sheets. But for JP buyers, their LIFE savings are put into their home purchase. All JP buyer associations should join and raise claim in NCLT. They must claim for guarantees for completion of their homes.

    Its likely that home buyer will be given zero or very little claim in NCLT. If NCLT proceeds without giving justified claim to home buyers, home buyers should approach Supreme Court and halt the proceedings of JP Bankruptcy in NCLT. Home buyers should petition SC to get their justified claim to safeguard their interest in Wish Town. This is one of a kind case. Whereas creditors legally have the greatest stake in JP liquidation. But can 30000 home buyers simply thrown under the bus in name of cleaning balance sheets? NCLT has to show some maturity in this case. If they don't, SC must do it.

    2. JP home buyers should prepare massive Dharnas. Protest against JP as well as UP Govt. Buyers association must become very ACTIVE now. Organize protests regularly. Get news media attention. Also must meet UP CM Yoginath. Explain him how interest of 30000 home buyers are at risk who have invested their life savings.

    3. JP End users presently staying in WT should join hands and elect an RWA. Prepare for contingency plans for future of maintenance and welfare of society. Raise funds for joint legal defense and other sorts things for welfare of buyers.

    4. Must be vigilant of people who are deceiving you - JP management, JP brokers, some JP investors etc. They have been spreading misinformation about JP since last several years. They talked about JP's turnaround plans. They assured you that JP's future is secure so buy JP stocks and WT property. Now they are nowhere to be seen. But they will be back soon spreading more disinfo.


    Jaitley ka dimag, show world they are going after corruopt but actually they are letting them off legally.
    CommentQuote
  • Please make a call to Jan ki Baat on toll free number 18001204411. Please call and share a message to the PM. The call will last for 30 seconds so have a succinct message ready to share. Clear, to the point. Let the toll-free receive thousands of such grievance calls to get noticed. Call from every mobile and landline you have access to. One call per number. Don't wait, do it now! #savejpwishtown #iwantmyhome #nohomenoemi
    CommentQuote
    1 Comments
    • rituraja10 months ago
      Where is JP broker @dineshsays
  • Originally Posted by vaibha4096
    Jaitley ka dimag, show world they are going after corruopt but actually they are letting them off legally.


    RERA Act is worthless like piece of toilet paper. RERA doesn't address the big problems of RE sector of today. Present RERA Act would've been good in 2007 when RE was taking off. But RE sector is falling and RERA has no answer to problems of today. How interest of home buyers will be protected in case Builder becomes bankrupt? What will be the role of Govt to protect interest of home buyers in case of Builder's bankruptcy? These are the types of problems India's RE sector is facing today. What does RERA say about these problems? Nothing !!

    JP is just tip of the iceberg. Go to Noida and see how many incomplete projects are rotting and builder says he doesn't have money. Its funny how Govt boosts on its great achievements of RERA reform. Ask Home buyers of JP, Amrapali or Unitech on what good RERA is to them.
    CommentQuote
  • Originally Posted by Bigfish
    Please make a call to Jan ki Baat on toll free number 18001204411. Please call and share a message to the PM. The call will last for 30 seconds so have a succinct message ready to share. Clear, to the point. Let the toll-free receive thousands of such grievance calls to get noticed. Call from every mobile and landline you have access to. One call per number. Don't wait, do it now! #savejpwishtown #iwantmyhome #nohomenoemi


    Dear All,
    Earlier also I had mentioned , that , just on the basis of pseudo reputation, this group had traversed so far , but not any more.
    Our brethren should demonstrate with lock, stock and barrel at their hotels, residence etc . I can support them by offering refreshment , if they indeed protest at Gaurs' home . If they can say "jai hind" for our beloved soldiers and country , then they can even stay at my garibkhana, since I want to be a good Samaritan. I appeal to all brethren to extend full support to needy human beings at all times.

    Another place they should protest is prime minister house . It had worked practically in year 1999 -December end, in the case of Indian airlines IC 814 hostages' release. Just before that protest, relatives and friends of hostages were losing all hope, but When that protest indeed happened , then (due to immense pressure)even prime minister had to take conscious cognizance and accept the demands of extortionists and Jaswant Singh had to fly to Kandhar (along with ....... dash dash dash....yes !!) . Even though opposition party is till date contesting that decision, but it is history now. So please pay heed and overcome & manage all logistics (read permissions) and go-ahead . Here's wishing good luck to you , God bless......
    CommentQuote
  • Advice to those organizing protest against JP. Crowd number will be the BIG factor to get Govt attention and media coverage. JP protester groups should also work actively to align home buyer victims of other Builder projects to do joint Dharna. A protest of 5000 crowd will shake the Govt.
    CommentQuote
  • Originally Posted by rajchauhan


    Dear All,
    Earlier also I had mentioned , that , just on the basis of pseudo reputation, this group had traversed so far , but not any more.
    Our brethren should demonstrate with lock, stock and barrel at their hotels, residence etc . I can support them by offering refreshment , if they indeed protest at Gaurs' home . If they can say "jai hind" for our beloved soldiers and country , then they can even stay at my garibkhana, since I want to be a good Samaritan. I appeal to all brethren to extend full support to needy human beings at all times.

    Another place they should protest is prime minister house . It had worked practically in year 1999 -December end, in the case of Indian airlines IC 814 hostages' release. Just before that protest, relatives and friends of hostages were losing all hope, but When that protest indeed happened , then (due to immense pressure)even prime minister had to take conscious cognizance and accept the demands of extortionists and Jaswant Singh had to fly to Kandhar (along with ....... dash dash dash....yes !!) . Even though opposition party is till date contesting that decision, but it is history now. So please pay heed and overcome & manage all logistics (read permissions) and go-ahead . Here's wishing good luck to you , God bless......


    Well said. The need of the hour is to get together and show your strength. Protests of mass scale might save the day for JP investors/Buyers.
    CommentQuote
  • Where is BOP or Investors Clinic. Should they be guiding and joining protests for failure to deliver homes to bUYERS.
    CommentQuote
  • NOT ALL WISHTOWN PROJECTS TO BE HIT

    New Delhi: Home buy ers in Wish Town, who have bought apart ments or plots in projects like Ka- lypso Court, Pav il lion Courts and Heights and oth ers which are be ing de vel oped by Jaiprakash As so ci- ates Ltd (JAL) will not be af fected by the ini ti a tion of cor po rate in sol vency res o lu tion process (CIRP) against its sub sidiary Jaypee In frat ech.
    Jaiprakash As so ci ates Ltd had bought 357 acre of land from Jaypee In frat ech for Rs 885 crore in 2008. Jaypee In frat ech was given around 1200 acre land on Noida-Greater Noida Ex press way as acon- ces sion aire to build Ya muna Ex press way to ex tend Noida-Greater Noida Ex press way to Agra.
    JAL had launched num ber of projects on the land in Sec tor 128 of Noida. How ever, all the projects are run ning be hind the sched ule, the com pany has started gi- ving the pos ses sion in some of the projects. It has al ready given pos ses sion of around 2,500 apart ments in these projects.
    The ma jor projects launched by JAL are Ka lypso Court, Pav il lion Courts and Heights, Im pe rial Ar- cade, Boomerang res i dences, Krys tal, Kasablanca and oth ers. JAL is also de vel op ing a 22-holes gold course around which all the projects are be ing de liv ered.
    The com pany has also regis tered these projects on Real Es tate Reg u la tory Au thor ity (RERA) web site of UP along with the time line to com plete the projects. Around 12,000 apart ments are to be con structed by JAL. The rest around 23,000 apart ments and plots are to be con structed and de liv ered by its sub- sidiary Jaypee In fra.
    The de ci sion of Na tional Com pany Law Tri bunal (NCLT) to start the in sol vency res o lu tion process against its sub sidiary Ja- ypee In fra struc ture will not af fect the work ing of JAL. In a state ment, in terim res o lu tion pro fes- sional (IRP) Anuj Jain who will work as CEO, said, ``I am con scious of the in ter est of key stake hold ers in clud ing flat own ers.’’ The in sol vency pro ceed ings has been started against the com- pany on the plea of IDBI Bank as the com pany was not able to ser vice bank loans. The com pany has bank loans of Rs 8000 crore.
    Jain fur ther said, ``As IRP, it is my duty to en deav our to pro tect and pre serve the value of the prop- erty of the com pany and man age its op er a tions as a go ing con cern in clud ing con tin u a tion of on go ing con struc tion.’’
    As the ex ist ing man age ment of Jaiprakash Gaur and Manoj Gaur could not ser vice the bank loans along with com plet ing the projects and gave con sent to go for clas si fy ing the com pany as in sol vent, Jain has an up hill task to find an in vestor or a pro moter who will meet all the obli ga tions of the com pany.

    https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=2544677
    CommentQuote
  • Noida: Jaypee Aman buyers unable to do registry of flats The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech. noida Updated: Aug 15, 2017 23:14 IST

    Vinod Rajput
    Hindustan Times



    Hundreds of homebuyers assemble at Sector 15A park to protest against Jaypee Infratech on Tuesday. (Sunil Ghosh /HT Photo)










      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.



      After insolvency proceedings against the Jaypee Infratech began, homebuyers are unable to get registry executed in the Aman housing project and move into their ready flats.
      The Noida authority had in July issued occupancy certificates allowing possession and registry of 1,000 out of total 5,000 flats proposed in Aman housing project located in Sector 151 along the Noida Expressway. But due to the proceedings of insolvency, buyers are unable to move into the flats and transfer the ownership rights after executing the registry. To buyers’ dismay, neither the builder nor the Noida authority is coming forward to help them.
      “The Jaypee Group offered me possession of my flat on July 31 and demanded that the balance amount of Rs 2.75 lakh be paid in order to get the flat registry executed. Now after August 9, I contacted the Jaypee Group to get my property registered but nobody guided me on how to go forward,” said Vipin Kumar Sood, a buyer, who booked a 2BHK flat in 2009.
      “I called up on the contact number given, but nobody helped me. I’m at loss on what to do now,” he said.
      The Jaypee Group had in July obtained occupancy certificates from the Noida authority for six of the 26 towers in Jaypee Aman project.
      The remaining 20 towers are yet to be finished by the builder. The 1,000 homebuyers who got flats are unable to move into the completed towers as the Jaypee Infratech management has failed to get registry executed.
      “I want to clear my remaining dues and shift to the new flat. But neither the Noida authority nor Jaypee Infratech has any answer to my questions. The Noida authority and the builder has earlier claimed that our registry will not be affected. But now why they are not executing the registry,” said Rahul Kumar, another buyer.
      Noida authority chairman Alok Sinha, who is also the principal secretary UP industrial department, said there is no why registry should not be executed. “The registry should happen if the Jaypee Group does not have any financial dues payable to the Noida authority. The buyers should contact the Noida authority for help,” he said.
      The investment of around 30,000 homebuyers is stuck because of insolvency proceedings against Jaypee Infratech.
      No new purchases can happen nor buyers can sell, transfer or get possession of their ready-to-move-in or under-construction flats. Also, there will be a status quo on the execution of registry of a property because the interim resolution professional has taken control of the Jaypee Infratech , the realty arm of the Jaypee Group.
      According to an interim resolution professional of a nationalized bank, future of flats of homebuyers and their investment is uncertain because a committee consisting of financers will later decide what should happen with the housing projects.

    CommentQuote
  • Total chaos at CRM and Jaypee office today. People rushing to get accounts statements to submit to Amit Jain- IPR professional.
    They have just 5 people to handle 30000 buyers .
    :bab (39):
    CommentQuote
  • Originally Posted by ashishew
    Total chaos at CRM and Jaypee office today. People rushing to get accounts statements to submit to Amit Jain- IPR professional.
    They have just 5 people to handle 30000 buyers .
    :bab (39):


    Even in good times like 2009-2010 period, Jaypee's office resembled a subzi mandi. Not only was front office understaffed, even the staff that was there used to work like sarkari office. Manoj Gaur and his minions paint a rosy picture of their business on CNBC even today after insolvency, but their company was mismanaged like this from the very beginning.
    CommentQuote