What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

Cheers! :)
Read more
Reply
8001 Replies
Sort by :Filter by :
  • Originally Posted by NCRguru
    These insolvency proceedings are nothing to be surprised about. Everyone knew about it and were warned multiple times. But most people were either living in denial or where stooges of Jaypee who had money to make by exploiting the gullible middle class. Some of the stooges even went overboard by copy pasting articles about Mr Manoj Gaur and his so called ethics, struggles, dreams, intentions..etc etc. Now what's going to happen is that first the secured creditors will get their due which are banks. Homeowners, not matter how much media bytes they get or how much they are promised by politicians will still be last in the food chain. Even though my heart goes out to the homeowners, but still legally they can't do much. Wishtown will be completed somehow that's for sure, but when?? That's the big question . And they won't be getting any refunds that's for sure. Because there is no legal precedent for that. If government legally interferes and gives homeowners their due, then it will open a can of worms which no one wants to even dream about. Because 30,000 votes don't matter in the bigger picture. And out of these,30k distressed people, probably only 1000 or so would have voted. They are not vote bank, only tax bank.


    Intelli boy.... there is no precedent for all this, thats why the chaos.
    it had to happen sometime....unfortunately for JP buyers, they would pioneer this. After the dust is settled, things would be better for all future buyers and RE in general.

    We have to be supportive of buyers to make these laws pro consumer.
    CommentQuote
  • Ignorance is bliss.
    CommentQuote
  • Originally Posted by raabta
    Critique people and make fun of them, call them stupid - The very core of democracy.


    My learned friend, please don't take it personally. I am trying to be polite here for very obvious reasons. Nobody called the homebuyers stupid. I called them gullible. Learn the difference.
    CommentQuote
  • Originally Posted by raabta


    Intelli boy.... there is no precedent for all this, thats why the chaos.
    it had to happen sometime....unfortunately for JP buyers, they would pioneer this. After the dust is settled, things would be better for all future buyers and RE in general.

    We have to be supportive of buyers to make these laws pro consumer.


    I am very surprised that you agree that it had to happen sometime. A few weeks ago, some of you were quoting hike in stock prices of Jaypee shares and claiming that bankruptcy will never happen.
    I agree with you that when dust settles then things will be better for homebuyers. But the real question is when will the dust settle? And do you think it will stop with Jaypee wishtown. Jaypee wishtown is just the tip of iceberg. Greno West, Gurgaon, greater Noida have more stuck projects and flats than wishtown. And please don't limit yourself to wishtown. When we talk about a precedent, then it defacto applies to all the cases in the country.

    Speaking of supporting Jaypee homebuyers, keyboard warriors are as useless as comb for a bald person. If you really care, go and join the protestors in Jantar Mantar. I doubt it will help though. Some statements by politicians are highlighted by media and the gullible homebuyers get happy with that. These sympathies won't matter when the vultures come calling.
    CommentQuote
    1 Comments
    • bhuwan10 months ago
      Even today its resolution stage not liquadation stage
  • Originally Posted by NCRguru


    I am very surprised that you agree that it had to happen sometime. A few weeks ago, some of you were quoting hike in stock prices of Jaypee shares and claiming that bankruptcy will never happen.
    I agree with you that when dust settles then things will be better for homebuyers. But the real question is when will the dust settle? And do you think it will stop with Jaypee wishtown. Jaypee wishtown is just the tip of iceberg. Greno West, Gurgaon, greater Noida have more stuck projects and flats than wishtown. And please don't limit yourself to wishtown. When we talk about a precedent, then it defacto applies to all the cases in the country.

    Speaking of supporting Jaypee homebuyers, keyboard warriors are as useless as comb for a bald person. If you really care, go and join the protestors in Jantar Mantar. I doubt it will help though. Some statements by politicians are highlighted by media and the gullible homebuyers get happy with that. These sympathies won't matter when the vultures come calling.


    We do what we can....intelli boy.

    It is still not insolvent.... i hope you understand the difference.
    CommentQuote
    1 Comments
    • NCRguru10 months ago
      That's very thoughtful.
  • WT looks like full of investors.
    I visited Kalypso RTM property which is premium property of jp ,and from the condition of flat looks like possession was offered long time back but still no one is living there.
    CommentQuote
  • I wonder where is Mr Dineshsays ? Oh he might be ogling on to expansive golf views....
    CommentQuote
  • Periods like this bring more opportunities for risk takers to pick, choose and select the best units at throwaway prices....
    Ready possession JAL units in kalypso / imperial / pavilion if offered at decent discount is still a good buy...
    CommentQuote
  • Originally Posted by NCRguru
    These insolvency proceedings are nothing to be surprised about. Everyone knew about it and were warned multiple times. But most people were either living in denial or where stooges of Jaypee who had money to make by exploiting the gullible middle class. Some of the stooges even went overboard by copy pasting articles about Mr Manoj Gaur and his so called ethics, struggles, dreams, intentions..etc etc. Now what's going to happen is that first the secured creditors will get their due which are banks. Homeowners, not matter how much media bytes they get or how much they are promised by politicians will still be last in the food chain. Even though my heart goes out to the homeowners, but still legally they can't do much. Wishtown will be completed somehow that's for sure, but when?? That's the big question . And they won't be getting any refunds that's for sure. Because there is no legal precedent for that. If government legally interferes and gives homeowners their due, then it will open a can of worms which no one wants to even dream about. Because 30,000 votes don't matter in the bigger picture. And out of these,30k distressed people, probably only 1000 or so would have voted. They are not vote bank, only tax bank.
    Jaypee has much more assets than debt and if that was not the case, Jaypee stock would have crashed long ago. There are smart people sitting in stock market and looking at stock price, they don't see any chance of company insolvency. People can correct me here but if a company is dissolved, the value of stocks is zero. Even by current valuation of stocks, the combined Jaypee group Mcap is more than 13K Crores .. So relax guys, Jaypee is not going anywhere and neither are the flats booked by you. Don't sell your units for dirt cheap price as Jaypee location is still awsum and so is the construction quality etc. All builders are guilty of over estimating the consumption and paying the price for that.. With no new launches since long time now, most oversupply is consumed and there is enough demand at current possession rate... Best time to invest in Jaypee flats/plots if you are getting a distress deal..
    CommentQuote
  • Originally Posted by asingla
    Jaypee has much more assets than debt and if that was not the case, Jaypee stock would have crashed long ago. There are smart people sitting in stock market and looking at stock price, they don't see any chance of company insolvency. People can correct me here but if a company is dissolved, the value of stocks is zero. Even by current valuation of stocks, the combined Jaypee group Mcap is more than 13K Crores .. So relax guys, Jaypee is not going anywhere and neither are the flats booked by you. Don't sell your units for dirt cheap price as Jaypee location is still awsum and so is the construction quality etc. All builders are guilty of over estimating the consumption and paying the price for that.. With no new launches since long time now, most oversupply is consumed and there is enough demand at current possession rate... Best time to invest in Jaypee flats/plots if you are getting a distress deal..
    You are incorrect about the Jaypee group market cap. JP Power is now owned by the lenders and you are double counting​ the value of subsidiaries that will also reflect in the valuation of the parent company. Many JP customers on the forum have posted the truth about the construction quality , though some badly stuck investors and shills of the JP group are still trying to mislead people in the hope that someone will buy their inventory at inflated prices.
    CommentQuote
  • JP prices have tanked already. No matter what the result is, it would take atleast 6-9 months full of tension for a result.
    A lot of people dont want anything to do with something like this.
    People who dint want to have a conversation @50k psmt are now begging brokers to get me to talking table.

    Hell - I love it.
    CommentQuote
  • Originally Posted by Grenoite


    Sirji apsey direct sawal

    If lets say an offer of 35-40k psy for jaypee plot comes, should buyer consider it, if yes what they should look for (registered, non registered, etc) and what problem they can face

    I have already started hearing that distress sales are coming big in market for jaypee, many desperate sellers approach buyers.
    ​​​
    ​​​​

    Please give your expert advice


    Mr Grenoite,

    I cannot give anyone advice on what investments they should make because that should be a function of their financial goals, risk appetite, current investment profile and many other factors.

    In my opinion, buying any JP property, including those under JAL, is like buying a very expensive lottery ticket. You know the house will win and do it for entertainment rather than because you expect to come out ahead.

    I am not sure one will even be able to buy an unregistered plot and get the ownership transferred after the NCLT order. Even for registered plots, naksha approval is still blocked, as far as I know. Please note that while there is 180+ 90 day limit on the resolution process, there is no time limit on the liquidation process if things get to that stage. Even in countries with well developed bankruptcy laws, the liquidation process can take many many years.

    Finally, even if one is able to obtain clear little on the property after many years, there is a high likelihood it would be in the middle of a ghost town with pathetic maintenance, since the builder would be bankrupt and Noida authority won't even change a bulb on a street light.

    Most of JP buyers are investors who bought to flip and are now stuck. You can easily figure that out from the number of people who are still promoting JP properties on this forum. In my opinion, the number of distress deals will only increase as they get squeezed and panic. So, it is not like you will miss the bus.

    As I said, I cannot give people personal financial advice without knowing their personal circumstances, but I will not personally touch JP properties unless I was prepared for the possibility of losing almost all of my investment.
    CommentQuote
  • Yes it has become like lottery ticket no doubt in it. In my thinking all companies having debt size of more than 50 k not going to burst. Either they find investor with haircut or reschedule loan on easy norms. Similarly i believe Jaypee may find solution and revive within prescribed limit of NCLT. In my opinion, loan will be restructured on the basis of sustainability with longer moratoriums and involve g various other instruments like FITL, WCTL, and Redeemable preference share with nominal coupon rate. They will also be able to get fund from investors/institutions or selling/mortgaging some business or asset to resume construction work. There are still good chances to strengthen cash flows in form of balance instalment from buyers, escalation charges, high maintenance charges and various other charges mentioned at the time of possession etc. Jaypee and Bhushan have good chances to come out of present situation, my 2 cent pl.
    CommentQuote
  • There is some news that some apartments will be handed over by jaypee in coming days. Does anyone know which towers wils be handed over in wishtown klassic in the coming days?
    CommentQuote
  • Originally Posted by mebond008
    There is some news that some apartments will be handed over by jaypee in coming days.



    Does anyone know which towers wils be handed over in wishtown klassic in the coming days?






    Dont be so assured about klassic, i am one of the buyers who is fighting to get possession since last 3 months.

    https://sites.google.com/view/jpklassic

    Hear the latest status from the horses mouth - a recorded communication with JP CRC Venkatesh.
    https://drive.google.com/open?id=0B8quEjJw4FFCZzJYRGxqYUQ5VHc
    CommentQuote
    1 Comments
    • vivmits9 months ago
      Moreover I suspect, Klassic B and C series towers are not registered by Jaypee under RERA. They have registered only A series towers. They informed me that all B series (B1 to B6) and C1, C2 OC is in place.