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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: June 18 2021
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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.
    It may be possible that JP have fraudulently procured the approval from HDFC to register the apartment or mortgaged it to a 2nd and subsequently 3rd bank after getting the approval from HDFC to register.

    In fact I can pretty much guarantee that HDFC management does not know that their officials have given the go ahead to register Kalypso court. In addition, I have also come to know from reliable sources that JP has mortgaged Kalypso court to 2 other banks by mortgaging photo copied land documents. ( I will not share the names of the banks for obvious reasons but you must all understand that you are SCREWED!!!!!!

    To be taken with a pinch of salt. These are the kind of arguments on the forum these days.

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    • Re : Jaypee Greens Wishtown, Noida

      For a second I thought it was pkgandhi; again with another of his FACT-FILLED posts

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      • Re : Jaypee Greens Wishtown, Noida

        Lol

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        • Re : Jaypee Greens Wishtown, Noida

          If Banks really had the leverage over land. All they need to do is to write to NA asking for stopping the registration process.

          Any stake holder can stop the registration process of property in question.

          My point has always been that Banks have no authority over private property. That's why they have not interfered in allotment and registration of properties.

          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.
          Any legal rights of stake holders in a property are CLEARLY mentioned in Conveyance deed.

          Mr Dinesh, do you have any clause in your conveyance deed that ICICI Bank reserve the right to exercise any control over your property? I am sure NOT.

          So Mr Gandhi,

          I acknowledge your concern about WT. Doubts over completion of projects. Maintenance and Internal Infrastructure. Banks power to seize UNSOLD and UNALLOTTED land. These are real problems.

          But you saying that Banks can seize private property of home owners. This is just too far fetched and preposterous argument.

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by Poddarvaib View Post
            It may be possible that JP have fraudulently procured the approval from HDFC to register the apartment or mortgaged it to a 2nd and subsequently 3rd bank after getting the approval from HDFC to register.

            In fact I can pretty much guarantee that HDFC management does not know that their officials have given the go ahead to register Kalypso court. In addition, I have also come to know from reliable sources that JP has mortgaged Kalypso court to 2 other banks by mortgaging photo copied land documents. ( I will not share the names of the banks for obvious reasons but you must all understand that you are SCREWED!!!!!!

            To be taken with a pinch of salt. These are the kind of arguments on the forum these days.
            Actually loan sell offs are fairly common, so it is possible HDFC bank has transferred credit risk of kalypso loan to someone else. And it is also common for the same asset to secure multiple loans ( legality has never really been tested in a court of law). So, apart from allegations of outright fraud, your scenarios are not that far fetched.

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            • Re : Jaypee Greens Wishtown, Noida

              Anything can be possible, there might be an earthquake in India only ...just now and everyone dies and the one who survives becomes PM of India...buy this ...would love to argue.. LOL

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              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by Bharatiya View Post
                If Banks really had the leverage over land. All they need to do is to write to NA asking for stopping the registration process.

                Any stake holder can stop the registration process of property in question.

                My point has always been that Banks have no authority over private property. That's why they have not interfered in allotment and registration of properties.



                Any legal rights of stake holders in a property are CLEARLY mentioned in Conveyance deed.

                Mr Dinesh, do you have any clause in your conveyance deed that ICICI Bank reserve the right to exercise any control over your property? I am sure NOT.

                So Mr Gandhi,

                I acknowledge your concern about WT. Doubts over completion of projects. Maintenance and Internal Infrastructure. Banks power to seize UNSOLD and UNALLOTTED land. These are real problems.

                But you saying that Banks can seize private property of home owners. This is just too far fetched and preposterous argument.
                Mr Bharatiya, please show me where I said banks can seize private property. I only said if a bank held a lien on a land parcel ( especially if it was a first and exclusive charge) and that land was subsequently sold to someone else without releasing the lien and the borrower then defaulted on the loan, then banks do have a case to go to court and press their lien. I have already said I am not an expert on the nuances and don't know how such a claim will be adjudicated. But in such a case, banks will definitely be at least given a hearing by the courts since they do have some sort of prima facie claim.

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                • Re : Jaypee Greens Wishtown, Noida

                  Wow the argument happening here is so amateurish it is not funny. I will not go into details. Has anyone studied how corporate lending works? Banks don’t give money against all assets they lend against certain assets. Debt is issued against long term assets and not assets that will be realized in the short term. The “launched properties” are realizable short term assets as this is the land that is intended to be sold to customers and therefore sits in the “current assets” or “Inventory” and not long term assets of the balance sheet.

                  One last thing. If you buy an apartment from Jaypee for $100 and you pay them $95 and pending possession and registry you are one of the creditors of Jaypee. Your $95 will stand in the liabilities of the company until they deliver the unit to you. At the time of delivery when you pay the remaining $5 the $95 worth of debt (raised due to your payments) is also wiped off. This is something everyone here is ignoring. All money raised from sold undelivered inventory is standing as debt and the sold inventory is standing as current assets/ inventory.

                  Banks do not lend against short term assets and if they do (extreme case) they take “charge” of the asset making sure the asset is immovable. This is called a Hanging Charge. In this particular case the bank will hold the title of the land and will not give the builder relevant authority to move the land. If Jaypee goes bust the bank would have first right to the asset ahead of all creditors. The fact that Jaypee is giving possession to people suggests this is not the case here.

                  Rather than everyone speculating I would suggest people understand the situation. Banks are not little kids and unless a major accounting scam is going on there is nothing to see here.
                  Last edited March 10 2016, 07:27 PM.

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                  • Re : Jaypee Greens Wishtown, Noida

                    Originally posted by dineshsays View Post
                    For a second I thought it was pkgandhi; again with another of his FACT-FILLED posts
                    Nahi yaar, I mean people write anything. Kuch bhi!! Its like a swinging pendulum between the stupid enough to be hilarious and the ridiculous enough to be agitative. Reminds me of a movie which i had the agony of watching, Housefull 2.

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                    • Re : Jaypee Greens Wishtown, Noida

                      Originally posted by pkgandhi View Post
                      I have already said I am not an expert on the nuances and don't know how such a claim will be adjudicated. But in such a case, banks will definitely be at least given a hearing by the courts since they do have some sort of prima facie claim.
                      Can you sight any example? Case where Bank has dragged owner of private property in court because Builder failed to make full payments of Project.

                      As far as i know, i have never heard of any cases where Banks have involved buyers of properties in court case just to recover loan payments of Project from Builder.

                      Banks do have lien over assets (pool of land etc). I don't deny it. But that lien extending towards buyers of Apartments? Or maybe even superseding those actual buyers? That i have never heard of.

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