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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: December 11 2021
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  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by pkgandhi View Post
    Arey sir, how many properties in India have multiple registries. In case of disputes, the registrar will be asked for information but it is the courts that will make the decision. Please don't mock the judicial process in our country by arrogating even judicial powers to NA.

    Just because builder was able to convey property on lien to someone else doesn't mean banks lose their right to judicial remedy. Not all banks in India are behemoths like SBI and they can't track every operational activity of the builder. I am not saying JP customers don't have rights as well, but this is a complex legal matter to be decided by the courts, not by some babu in Noida authority.
    Even going by your logic. If banks did have right over land, they should have exercised their right by stopping the registration process of properties.

    So banks acting careless and allowed this mess to be created. This fact will go very much against banks in court. No court can put interest of banks than of above home owners.

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by Bharatiya View Post
      Even going by your logic. If banks did have right over land, they should have exercised their right by stopping the registration process of properties.

      So banks acting careless and allowed this mess to be created. This fact will go very much against banks in court. No court can put interest of banks than of above home owners.
      Arey sir, if Bhagalpur krishak sahkari bank has lent money to JP against some land, how do you expect it to keep track of who is registering flats built on land that is mortgaged to them ? They don't have the state machinery at their disposal.

      If someone stole some movable property from your house and then sold it to someone else, will you say it was your responsibility to make sure that the other person didn't buy it and that you should forget about your legal rights on that property ? Banks may not be more equal than others in the eyes of law, but they are not less equal either.

      As for interests of banks vs home owners, judges have to follow the law, irrespective of where their personal feelings and sympathies lie.
      Last edited March 10 2016, 06:22 PM.

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      • Re : Jaypee Greens Wishtown, Noida

        JP is delivering apartments but banks have no idea about it?

        Silly argument.

        I give you a better idea. Banks are FULLY aware of all the developments. But they don't have any legal right to interfere in registration process and in stopping sale of properties.

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        • Re : Jaypee Greens Wishtown, Noida

          From the buyers side any individual having a loan has to get an NOC from the bank to be able to register. No NOC - no registry. So suspect that most banks are accutely aware of what is going on.

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          • Re : Jaypee Greens Wishtown, Noida

            I think a similar NOC must be taken by the developer from the bank if the bank has underwritten any project (but I am not 100% sure about this)

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            • Re : Jaypee Greens Wishtown, Noida

              Pathetic points by pkgandhi.. Kuch bhi likhna hai for bashing... My office colleague had yesterday obtained NOC from ICICI bank, (have read NOC myself) for getting registry done...

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              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by dineshsays View Post
                From the buyers side any individual having a loan has to get an NOC from the bank to be able to register. No NOC - no registry. So suspect that most banks are accutely aware of what is going on.
                I am sure the NOC is taken from the bank giving the loan on the flat, not the bank that has given working capital loan against the land. In any case, I have already said registry does create rights for the buyer as well, but that doesn't mean the lenders left high and dry have no legal recourse at all. I don't understand the nuances of the law well enough to be able to say which way the decision will be made ( probably in favor of home buyers), but banks certainly have a case to at least put in front of courts, if not against buyers then against bankruptcy estate or NA which should not have allowed registry on land that was mortgaged.
                Last edited March 10 2016, 06:48 PM. Reason: So

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                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by pkgandhi View Post
                  I am sure the NOC is taken from the bank giving the loan on the flat, not the bank that has given working capital loan against the land. In any case, I have already said registry does create rights for the buyer as well, but that doesn't mean the lenders left high and dry have no legal recourse at all. I don't understand the nuances of the law well enough to be able to say which way the decision will be made ( probably in favor of home buyers), but banks certainly have a case to at least put in front of courts, if not against buyers then against bankruptcy estate or NA which should not have allowed registry on land that was mortgaged.
                  No Sir you are wrong. HDFC bank mortgaged Kalypso Court from Jaypee and have issued NOC to buyers to register.

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                  • Re : Jaypee Greens Wishtown, Noida

                    Originally posted by dineshsays View Post
                    No Sir you are wrong. HDFC bank mortgaged Kalypso Court from Jaypee and have issued NOC to buyers to register.
                    Thank you for clarifying. I wonder if the retail loan department talks of corporate loan department. Does the NOC make any mention of the loan HDFC Bank has given to Jaypee or just the loan given to customer ? Where can one find the list of which project is mortgaged to which bank, please ?

                    If someone has taken a loan from ICICI for Kalypso, does HDFC give a NOC for that property as well ?
                    Last edited March 10 2016, 07:04 PM.

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                    • Re : Jaypee Greens Wishtown, Noida

                      And so far at least I have never heard any bank not issuing an Noc for any JP project including Greater Noida - unless there was an issue between the bank and individual (case of default or late payment etc)

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