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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  • Originally Posted by amused
    Originally Posted by Imperialnoid
    Is work ongoing in the Associates projects (golf side) or has everything stopped?
    About 100-150 people working at PH4, dont know about rest.
    Does anyone know the status of PH-4 ? There were about 12-14 Towers closer to completion sometime back .
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  • For those who are still looking to invest in property in 2018 and are frustrated by Noida builders, here is a scoop about a RTM project in Pune that will leave you aghast. Check it out in this thread -

    https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/31712-raheja-vistas-k-raheja-corp-nibm-road-pune/page4
    Photos:
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    5 Comments
    • raabta1 years ago
      Dint know that...thanks.
  • Originally Posted by rovingeye
    For those who are still looking to invest in property in 2018 and are frustrated by Noida builders, here is a scoop about a RTM project in Pune that will leave you aghast. Check it out in this thread -

    https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/31712-raheja-vistas-k-raheja-corp-nibm-road-pune/page4


    Not to curb your enthu, but property as investment tool is dead now. You would realize that soon. The only demand right now is of ready to move house for self use.
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    1 Comments
    • rovingeye1 years ago
      Totally agree with that raabta.
  • Insults/Flaming
    IREF was put together for people to come together and help each other, collaborate and discuss in a positive way – not bash on someone because you don't like their idea, or because they don't share the same views as you. We are big into the free speech idea here. So you're free to say what you think – but do it in a constructive and positive way. We encourage mature debates – discourage childish arguments. Personal attacks, insults, rudeness, racism, threats, name calling or unnecessarily inflammatory posts will NOT be tolerated. Common courtesy, politeness and respect for fellow members, along with constructive posting of opinions are essential in preventing posts from being edited and/or deleted, or having threads locked. Whilst we encourage healthy disagreement/debate, please maintain respect towards fellow members at all times.
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  • Originally Posted by raabta


    Not to curb your enthu, but property as investment tool is dead now. You would realize that soon. The only demand right now is of ready to move house for self use.


    What about the future. Its not like investors are dumping it. Even in the US it bounced back eventually.
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  • Originally Posted by Imperialnoid


    What about the future. Its not like investors are dumping it. Even in the US it bounced back eventually.


    I think the last few years the RE market was forced to self correct itself.
    The expect the prices to stay the same or rise slightly in Noida atleast this year.

    In wishtown, i think it is highly unpredictable....much depends on the resolution plan and how SC tackles the situation.

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  • Jaypee Group to deliver 5,114 flats in Noida by June - HT

    The Jaypee Group on Thursday said it will have 5,114 flats ready by March 2018. However, the flats will be delivered only in June after completion of all formalities.

    The Jaypee Infratech and the Jaiprakash Associates Limited have released a flat delivery schedule to pacify agitated homebuyers, who have filed a plea in the Supreme Court.

    Read more at:
    https://www.hindustantimes.com/noida...Xh3pBeSfL.html

    ...............................................

    What do you guys think? More smoke and mirrors?
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  • Hi, is this a good time to buy in Jaypee Wishtown delivered flats? Jaypee Greens Imperial Court or Kalypso Court? Also, getting non golf facing 4 BHK at 2.2 and golf facing at 2.7. Which one is better? Also, is it safe as at the end of the day need peace of mind. Thanks.
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    1 Comments
    • Imperialnoid1 years ago
      RTM yes the prices now are from 10 years ago. I would prefer to buy (end use only) in something where the construction is finished or likely to finish soon. Only Imperial and Pavilion has full delivery (some individual apartments are pending but people are not seeking possession due to maintenance charges). Kalypso 5/10 towers are pending in first stretch 3/5 in the second stretch. With Jaypee announcing new deliveries it should change to 4/10 and 2/5 pending but still some time till another builder takes over and completes the project.
  • RTM seems safe but uncertainty is regarding the upkeep of the township - water, roads, backup etc.
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  • Originally Posted by Truenity
    ......Unlike other projects in Noida, JP is responsible for the maintenance of the entire township and Noida authority won't even change a bulb......



    Not true....a legal hotshot like you dint google it? shame.
    After completion, the township is handed over of local authority and rwa.
    In case of JP, this would be never :)
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  • Originally Posted by akmukherjee
    Hi, is this a good time to buy in Jaypee Wishtown delivered flats? Jaypee Greens Imperial Court or Kalypso Court? Also, getting non golf facing 4 BHK at 2.2 and golf facing at 2.7. Which one is better? Also, is it safe as at the end of the day need peace of mind. Thanks.


    Sir, itnay budget mein Plot le lo aur apni Kothi bana lo. Kyon JP ke chakkar mein fas rahe ho?
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  • Originally Posted by Truenity
    The prices you are quoting seem too high compared to what was quoted on this forum even before the bankruptcy proceedings started. You must be a brave person and very well connected to buy at these prices in the face of the legal uncertainty. There is no shortage of stuck investors who are desperate to exit, so anyone willing to take these risks should at least try to negotiate a good deal instead of paying what sellers are asking for.



    There are many stuck JP investors on this forum. Beware of their advice.


    4BHK Golf unit in Imperial is roughly 4000Sqft that's RS 6750 All inclusive. People at launch paid Rs 5,750 + Charges & taxes. Pre-bankruptcy rate was Rs 8500 (last I checked) and at peak price from 3-4 years ago was Rs 9750-10500. The price he is getting is a bargain. I don't know which hat you pull your figures from. Please go ahead and make your numbers up like Trump.

    Regarding stuck investors please call around and check availability. There are a few for sale but its not even 5% of total units. Many brokers have listings on magic bricks but most don't have actual units to sell. Ask them for exact unit and they will give you a range. 8-16th floor and so on. Its not that no one wants to sell. Its that unless someone is desperate they are not selling. Especially those that got possession as their risk is low. If I owned in tower 11 in Kalypso I would be worried as there is uncertainty about who will complete and when. Tower 4 not so much.
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  • Originally Posted by flatowner2
    Why JP buyers are not registering their property despite offered the possession?
    Is it because majority r investors and not able to find any buyers or something else is going on which is not in public domain?

    Despite having handed over 6,800 units by March 2017 and the figure touching almost 13,500 by end of March 2018, only about 16 percent buyers have paid all their dues to register.
    http://www.moneycontrol.com/news/bus...r-2507663.html



    Majority of buyers in JP (or any north India market) are investors.

    Apart from that... registry requires you to pay pending amount (final demand) as well as the registry amount.

    This is significant (should be around 10L+ for most). Banks are not financing anymore.
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  • 5 provisions in amendments to the bankruptcy code that homebuyers must know In the last few months, certain amendments are introduced to the Insolvency and Bankruptcy Code 2016 to address the above issue. Vikas Wadhawan

    The year gone by was nerve-wracking for few developers especially with all the bankruptcy uproar around. It was also an eye-opener situation for many prospective homebuyers who suddenly took a step back to consider – yes, things could go wrong. For most homebuyers, a reputed developer is an assurance and many who are stuck in different projects had not anticipated such a situation. Thankfully, there is some clarity today. There are some provisions that a homebuyer must know about the amendments related to the bankruptcy code.

    But before that, let’s look at why amendments became so crucial to the Insolvency and Bankruptcy Code, 2016 (Code). When the code was first introduced, homebuyers welcomed the move. However, when the Jaypee Infratech case came to light homebuyers realised they were not recognised as creditors! Post this, everyone soon realised that some more provisions should be added and property buyers must be given their due and recognised as a creditor.



    In the last few months, certain amendments are introduced to the Insolvency and Bankruptcy Code 2016 to address the above issue. So here is what these amendments mean to the homebuyers:

    The homebuyer is recognised now

    Insolvency and Bankruptcy Board of India amended the rules to mandate that any resolution plan proposed for the company must categorically show how it will protect the interest of all the stakeholders.

    Before the amendment, the resolution plan was binding on the bankrupt/insolvent company, but there was no statutory obligation in the rules to protect the interest of the stakeholders other than financial creditors. The homebuyers, who were earlier not recognised as creditors, were left in a lurch.

    Now with the amendment, the homebuyers are categorised as ‘Other Creditor’, and it is mandated that the resolution plan should show how it will protect the interest of all stakeholders including 'Other Creditors'.

    The homebuyer still cannot initiate a resolution process

    If the amendment is to be understood, the interests of all stakeholders other than the financial and operational creditors are to be secured too. With the good news, there is a grey shade too, apparently.

    While the National Company Law Appellate Tribunal (NCLAT) declared home buyers in such projects be categorised as ‘Other Creditors’ of the developers’ company, the homebuyers or “Other Creditors” still do not have the right to initiate the resolution process. The power to initiate a resolution process is still with the financial or operational creditors, which is major discrimination.

    The homebuyer is well represented now

    Ever since the amendment, a “Form F” has been introduced which is exclusively for creditors other than financial and operational ones to file claims with the Insolvency Resolution Professional.

    The creditors' committee is now mandated to figure out how home buyers can be incorporated and recognised in the resolution plan. Also, as an additional measure, the NCLAT will decide on the final resolution plan, and the tribunal would not clear the plan without giving notice to all stakeholders including home buyers, and home buyers can raise objections at that time.

    There is penalty for contraventions too

    Finance Minister, Arun Jaitley has said that the entire process has been a ‘learning experience’. And therefore, one of the provisions introduced is that if a person contravenes or breaches any provisions of the Code, for which no penalty has been specified, he/she will be punishable by a fine ranging between Rs 1 lakh to Rs 2 crore. For home buyers, this means an added layer of protection against unscrupulous ways of settling the issue.

    There is scope for further amends

    If these amendments did not mention anything concrete for a home buyer, one need not lose heart. The Finance minister addressed debates with the fact that given insolvency, bankruptcy and related proceedings are relatively new, the ground would be open to amendments as and when the case requires. It also vests power in the hands of the Insolvency Board to consider consequential amendments, if needed.

    These amendments introduced are proof that there has been a re-look at the provisions for a buyer. The homebuyers’ status has been elevated, processes have been weighed and corrected where necessary but whether the homebuyer will be able to make use of these amendments to his/her advantage is yet to be understood.
    The writer is Group Chief Financial Officer of Housing.com, PropTiger.com and Makaan.com



    http://www.moneycontrol.com/news/bus...w-2508279.html
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  • Seriously, this Govt can't do anything right. Tons of flaws in insolvency code so they have to make amendments every few weeks. Just like their GST bill and Demonetization policy.


    And what's this praise about RBI doing its national duty. Bunch of rubbish. Any person with common sense knows that RBI is a puppet of Govt as was evident since the idiotic policy of Demonetization. The Insolvency process is also just a wastage of time. Insolvency code is a big HYPE. It can't resolve crisis in India's banking sector. Insolvency code is good but its 10 years too late. IBC would've given safeguards to Indian banking system had it been 10 years earlier when NPA were less than 5%. Now the NPAs have gone through the roofs and a process reform like IBC cannot address the crisis which has spread to large part of Banking sector. Now you need some kind of super dictatorial Tribunal/committee that will decide the fate of NPAs and defaulters within days and nights. Otherwise you should spend years and years in court battles with defaulter companies, creditors, stake holders etc etc. And even still there won't be any meaningful progress.
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