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 vimalluthra
    Where is dineshsays? Missing him too much in this negative situation


    His account status is "No-Posting Probation"

    Looks like his account is suspended.
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  • or maybe he is out of his job with IRP taking over....hahaha:bab (45):
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    1 Comments
    • vimalluthra1 years ago
      He would have definitely brought something positive out of this bankruptcy situation . Like ismein bhi koi baat Hai . We all must rejoice
  • Originally Posted by deser7rose


    Here is a sample circulating around

    https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=2545586


    Here is another.. in word format.
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  • Latest information by IRP is uploaded on  Jaypeeinfratech website. It is now clearly defined which projects are under Jaypee Infratech ag
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  • Can we approach our banks for suspending Home loan EMI?
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  • What life's like inside Jaypee wish town Of the 32,000 flats planned, Jaypee handed over some 6,500 apartments and the others are in different stages of completionSharmila Bhowmick | TNN | August 19, 2017, 14:15 IST

    NOIDA: Of the 32,000 flats being built, 6,500 have been handed over and people have moved in. But most are complaining of inadequate infrastructure and are now not sure when things will fall into place.

    Most have not got their flats, and are at their wits' end with their money stuck. But life is anything but easy for those who got possession at Jaypee's sprawling Wish Town complex on the Noida-Greater Noida Expressway and moved in.

    Of the 32,000 flats planned, Jaypee handed over some 6,500 apartments and the others are in different stages of completion. Many of the 6,500 who got possession have either moved in or rented their flat out. And those who are now living here are a very worried lot: what happens now? Who takes care of the maintenance? Will the lifts function? Will people ever move in here?

    TOI spoke to several residents at Wish Town, and everyone appeared concerned about the practical details of daily existence. "We shifted here because we had already booked our flat here (but have still not got possession). We knew we would build our life here, so we thought it only practical to shift to a place which was going to be our future neighbourhood anyway . Rents are low as compared to other residential areas, but there are basic infrastructure problems as there are no medical stores, no public transport and no grocery stores.

    We are just trying to adjust to what the situation is," said Preeti Sharma, who now lives on rent at Klassic, an apartment block. Of the 32,000 apartments at Wish Town, the ones where people live are painted a shade of yellow. Guards have been posted at entrances and a basic security check has been added at the entrance of Klassic and Kalypso, the two main blocks which are occupied.School buses come to pick up and drop children. The parks and open green areas look maintained. The internal streets are well maintained as well. Parking is not a problem because only a handful of residents are living in these apartments. In stark contrast, the basement of these apartments look dark and deserted. The basement under Klassic Tower 8 was strewn with waste material from construction and sewer water.

    Opposite Klassic, which appears mostly occupied, a construction site is visible. "The problem of living at a site where construction is going on is that dust continuously enters our apartments. There's also a continuous buzz of metal and instruments. We are living here because my children are studying at Jaypee School. We are trying to adjust to the conditions," said Priya Srivastav, a resident.

    Rusty signboards and under-construction towers are visible all around these few apartment blocks where people stay . Residents say they have to turn in early as they don't feel safe venturing out late.

    "Within the society there are guards and there is no problem, but right outside Wish Town one does not feel safe. You need to drive or hail a cab as there is nothing else in the region. Most residents turn in early. We buy our daily supply of milk, bread, eggs and vegetable from a vendor who comes here every morning," said Prevesh Pallival.

    "As we had already bought apartments here (but not got possession), we thought of shifting here on rent. Also, with the burden of EMI and rent, we were hoping to shift to our own apartment soon. Now we are no longer sure when we will get our flat," Preeti Sharma added.










    http://realty.economictimes.indiatimes.com/news/residential/what-lifes-like-inside-jaypee-wish-town/60130238

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  • Jaypee group home buyers threaten to commit suicide at Jantar Mantar Over 32,000 home buyers of Jaypee Infratech, which was declared bankrupt, were affected due to the delayed possession.
    Scores of home buyers of Jaypee Infratech affected by delayed possessions staged a protest at Jantar Mantar on Saturday and threatened to commit suicide if the government does not help.

    Over 32,000 home buyers of Jaypee Infratech were affected due to the delayed possession.

    "During the partition of our country we were robbed and migrated. Now we are again being robbed by the builders, and the government is turning a blind eye," said SK Suri, a senior citizen and a home buyer.

    About 100 home buyers gathered at the Jantar Mantar on Saturday morning with placards and started shouting slogans against the builders, government and the Noida and Greater Noida authorities. They had planned to march till the PM's residence but permission was not granted by the police.

    "Since nobody is hearing us, we feel like committing suicide like the farmers are doing. I am a retired man and I have invested all my life's saving for a flat. Now I am living in a rented accommodation. Is there any law in this country for us," said SK Sharma, a home buyer.

    The bank, which had given loan to the Jaypee group had recently moved a petition for Jaypee Infratech's insolvency, following which a series of protests erupted.

    "If the government doesn't listen to us, we will continue our protest and will show them our power in next elections," said Aditya Mann, a home buyer.
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  • Hi,
    i have a registered plot in KP-2.
    do I also have to file some kind of claim form.
    please advice.
    thanks
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  • This is the latest list from Insolvency board on who has to file the claim


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  • Originally Posted by victor43
    Hi,
    i have a registered plot in KP-2.
    do I also have to file some kind of claim form.
    please advice.
    thanks


    I also have a registered plot in KP-I. The suggestion I got is to file claim for common area (like club house charges, internal development charges, maintenance charges etc.)
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  • Terrible state of affairs. Feel so sorry for everyone. This is no way for an aspiring "global economy" to treat its citizens. Govt has to pick up the gauntlet and sort out this mess alongwith buyers, creditors and other players. RE is a major industry employing lakhs.... how can the government instill confidence in investors by abandoning such a huge project and just wring our hands in helplessness.
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  • Originally Posted by Raojee
    Terrible state of affairs. Feel so sorry for everyone. This is no way for an aspiring "global economy" to treat its citizens. Govt has to pick up the gauntlet and sort out this mess alongwith buyers, creditors and other players. RE is a major industry employing lakhs.... how can the government instill confidence in investors by abandoning such a huge project and just wring our hands in helplessness.
    This is not a govt project, so the question of abandoning it doesn't arise. Many mom and pop investors also bought JP Associates shares at 300 and have lost their shirts. Should the government bail them out as well ? The government can't conjure up money out of thin air. It will ultimately have to come from the taxpayers' pockets. The economy will stop functioning if no enterprise is allowed to fail.
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  • Originally Posted by Raojee
    Terrible state of affairs. Feel so sorry for everyone. This is no way for an aspiring "global economy" to treat its citizens. Govt has to pick up the gauntlet and sort out this mess alongwith buyers, creditors and other players. RE is a major industry employing lakhs.... how can the government instill confidence in investors by abandoning such a huge project and just wring our hands in helplessness.


    I am not surprised that Govt is doing nothing on this issue. I think you very well know that this Govt has no rational thinking.

    I wonder how many more Builders are about to go on road of JP. Imagine if home buyers are simply shunned away. This will destroy the confidence in RE is such a big way that it will be irreparable. 12% GST on u/c property and Demonetization slowdown has massively dented u/c RE market. Last thing u/c market needs is eroding consumer confidence (of whatever that is left) in u/c market.

    Keeping aside technicalities, Govt has already screwed up Telecom, Power and Agriculture sector with foolish policies. Now they are trying hard to destroy Infrastructure and RE sector. I wonder where economy will be after 5 years?
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    1 Comments
    • shalumani12 months ago
      Did u ever think why lots of other builders are likely to go JP's way? Because a few of them, like JP, bit more than they could chew, and a lots of them never had the intentions of delivering a good product.

      Now, why is the govt to be blamed for it? Why does the responsibility not lie with the builders? Or the inbhestors who inbhested in a 60 floor project by Supertech, or projects by Amrapali despite knowing their reputation?
  • Originally Posted by Truenity
    This is not a govt project, so the question of abandoning it doesn't arise. Many mom and pop investors also bought JP Associates shares at 300 and have lost their shirts. Should the government bail them out as well ? The government can't conjure up money out of thin air. It will ultimately have to come from the taxpayers' pockets. The economy will stop functioning if no enterprise is allowed to fail.


    Shares have risks associated with them, and everyone is aware of these risks.

    None of the agreements which buyers signed with JP had a clause that we would take money and give you nothing.

    Equating shares and residential investment is ........
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  • Originally Posted by Truenity
    This is not a govt project, so the question of abandoning it doesn't arise. Many mom and pop investors also bought JP Associates shares at 300 and have lost their shirts. Should the government bail them out as well ? The government can't conjure up money out of thin air. It will ultimately have to come from the taxpayers' pockets. The economy will stop functioning if no enterprise is allowed to fail.


    Comparing stock investors to home buyers is egregious mistake. Both are completely different things.

    Your logic of Govt inaction is also egregiously mistaken. Govt strategically protects economy to safeguard common interest of citizens and to keep the economy running smooth. Govt can save any enterprise, even nationalize it if the big stakes are involved. Many PSU's are insolvent, yet Govt keeps running them because they are strategically important for country. For eg BSNL, MTNL, GSPC, many Public sector banks etc. Govt spends a lot of money on various subsidies on energy, food, fertilizers, medicines, social security etc etc. Some people say its a wastage of taxpayer money. Its not. Its meant to safeguard interests of people as well as keeping the economy smooth. In 2008 recession, US automobile sector was hit bad. Yet, Govt strategically protected and bailed it out with taxpayer money. Today its functioning smoothly.

    I am not saying that JP Project should be given full creamy bailout by Govt. But some action is needed to safeguard interest of home buyers and strategically protect RE and Infrastructure sector of this country.

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