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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: August 17 2020
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  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by t_yash View Post
    Dinesh, FYI, JP management communicated in the monthly meeting with KCBA that corporate office is taken over by lenders and gave 1st April deadline to JP to vacate. Lender details and amount is not disclosed.
    Apart from that all unsold inventory at WishTown, GN is also taken over....

    Not sure on the validity of the statement as its not on official records...
    Thank you for posting this information for the benefit of forum members, yash sir. I hope you are not attacked as being a troll, spreading false rumors and talking about impossible, theoretical scenarios like I have been.

    I don't know much about your personal risk tolerance and investment portfolio, nor do I have any inside information on JP outside of what has been shared publicly or in forums, but, just as Mr Poddarvaib suggested, if I were in your position, since you have been able to exert pressure and they are offering you a refund with 12% interest, I would take it and walk away. This is a much better deal than what the average JP buyer will likely end up with.

    From your posts, it seems you are a genuine end user and not an investor, but as you have yourself highlighted, JP just doesnt have the money to complete projects with the quality promised. Perhaps, it might make sense to consider cutting your losses and move on. Prices in rest of Noida have been stagnant too, so, with a 12% return, you should be able to buy a better RTM property now than when you decided to buy in JP.

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by dineshsays View Post
      Please read note 36 of the standalone balance sheet and note 37 of the consolidated balance sheet Mr. Gandhi. Again thank you for your education. But I know this much.

      ICICI bank HAS NOT TAKEN IT OVER - please post the link where it says they have taken it over.

      And I know it will not sell for 3000 Crore it's exactly what I am saying.
      Mr dineshsays,
      I hope Mr t_yash;'s post is enough to satisfy you and you will also not start accusing him of being a troll, spreading false rumors or discussing impossible scenarios.
      Last edited March 23 2016, 04:16 PM. Reason: Mentioned user

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by pkgandhi View Post
        Thank you for posting this information for the benefit of forum members, yash sir. I hope you are not attacked as being a troll, spreading false rumors and talking about impossible, theoretical scenarios like I have been.

        I don't know much about your personal risk tolerance and investment portfolio, nor do I have any inside information on JP outside of what has been shared publicly or in forums, but, just as Mr Poddarvaib suggested, if I were in your position, since you have been able to exert pressure and they are offering you a refund with 12% interest, I would take it and walk away. This is a much better deal than what the average JP buyer will likely end up with.

        From your posts, it seems you are a genuine end user and not an investor, but as you have yourself highlighted, JP just doesnt have the money to complete projects with the quality promised. Perhaps, it might make sense to consider cutting your losses and move on. Prices in rest of Noida have been stagnant too, so, with a 12% return, you should be able to buy a better RTM property now than when you decided to buy in JP.
        Originally posted by pkgandhi View Post
        Mr dineshsays,
        I hope Mr *t_yash ;'s post is enough to satisfy you and you will also not start accusing him of being a troll, spreading false rumors or discussing impossible scenarios.

        Mr. Gandhi,
        I am not attacked so far & moreover I don't care either.... I hope that suffice your doubts..

        I am an end-user like most of other members in KCBA.
        Taking 12% route is simpler as on paper however JP don't have the funds, FYI, JP have to pay ~15 CR to Ahluwalia contractor as of EO Feb, and struggling to pay even 50L monthly basis...

        Moreover we don't want to let the fight go so easily..... just because we are getting some monetary benefits.... Instead we will force JP to deliver our homes as per our expectations....
        AND WE WILL FOR SURE....

        Don't worry me & Dinesh know each other quite well... :-)

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by Bharatiya View Post
          Banks can easily stop Registry. They can refuse to provide NOCs without which Registry will be impossible for buyers. They can file objection against Registrations to Noida authority that will cast shadow on whole WT. They can take Builder to Court and stop possession of Apartments.

          But Mr Gandhi says, Banks are just allowing everything to happen. And one day, if the time comes, Banks will go to court, kick out Buyers and take their apartments.

          To be fair, Banks may try to do that. Probability of this is 1 in Million.
          Mr Bharatiya,
          It seems either your reading comprehension skills are quite poor or you are intent upon misquoting me . Banks do not have the power to kick buyers out, but they do have the right to claim title on any mortgage they have if loans that were backed by the mortgage are defaulted on and go to courts to assert their right.

          Given the amount of money likely to be involved and the relatively low cost of hiring a seasoned lawyer, it would be criminally irresponsible of banks towards their own shareholders if they do not pursue their legal rights and RBI will probably censure them for doing so. You must be an expert in real estate bankruptcy law to be able to predict the outcome of a legal case as 1 in a million. I am not an expert and have no idea what legal strategy lenders and buyers will adopt, so cannot predict what the outcome will be. I think the odds are lower than 1 in 2, but definitely higher than 1 in a million.

          In any case, even if courts ultimately throw out all claims, it still means that the title of the properties will be under legal dispute for many years while the court cases are pending.

          For your information, NOCs are provided by banks who have lent to homeowners NOT by banks who have lent to JP and in any case NOC doesn't dilute any mortgage rights.

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by pkgandhi View Post
            Mr Bharatiya,
            It seems either your reading comprehension skills are quite poor or you are intent upon misquoting me . Banks do not have the power to kick buyers out, but they do have the right to claim title on any mortgage they have if loans that were backed by the mortgage are defaulted on and go to courts to assert their right.

            Given the amount of money likely to be involved and the relatively low cost of hiring a seasoned lawyer, it would be criminally irresponsible of banks towards their own shareholders if they do not pursue their legal rights and RBI will probably censure them for doing so. You must be an expert in real estate bankruptcy law to be able to predict the outcome of a legal case as 1 in a million. I am not an expert and have no idea what legal strategy lenders and buyers will adopt, so cannot predict what the outcome will be. I think the odds are lower than 1 in 2, but definitely higher than 1 in a million.

            In any case, even if courts ultimately throw out all claims, it still means that the title of the properties will be under legal dispute for many years while the court cases are pending.

            For your information, NOCs are provided by banks who have lent to homeowners NOT by banks who have lent to JP and in any case NOC doesn't dilute any mortgage rights.
            Registered deed in name of sub lease do not confer right to lendor of lessor.

            Banks of lessor only have right to asset owned by it and sublease is not on lessor s books

            All those having registered sub lease can stay easy, the contention here is a misplaced bogey.

            Lawyers claim to be smart people but it is to be noted that law in India is based on precedence and not on some legal knowledge bearing smartie

            Moderator Ji , it is requested to stop this as the issue being raised in multiple threads and is creating spam like fatigue
            Last edited March 24 2016, 12:59 AM. Reason: quote formatting

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            • Re : Jaypee Greens Wishtown, Noida

              Dear t_yash;, is the clause pertaining to refund with 12% interest is standard one across all the WISHTOWN projects, if yes cn u please specify clause /para . dineshsays; n other senior members u too must hv information in this respect . When d buyers cn enforce/exercise the option.
              Last edited March 24 2016, 06:02 PM. Reason: User tagging.

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              • Re : Jaypee Greens Wishtown, Noida

                I am sure pkgandhi; can help

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                • Re : Jaypee Greens Wishtown, Noida

                  Fine with the buyers if anyone cn help, but by the way I wonder how and where from @Pk gandhi got d figure of current liabilities running into what he posted n he conveniently overlooked current assets out of which these r to be paid. I will try to garner correct figures. That apart dineshsays; all senior members please help with my query.
                  Last edited March 24 2016, 06:13 PM. Reason: User tagging.

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                  • Re : Jaypee Greens Wishtown, Noida

                    Jaypeee huuu.. Wait for some days.. we will have KFA for discussion..

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                    • Re : Jaypee Greens Wishtown, Noida

                      Originally posted by tushar11 View Post
                      Dear t_yash;, is the clause pertaining to refund with 12% interest is standard one across all the WISHTOWN projects, if yes cn u please specify clause /para . dineshsays; n other senior members u too must hv information in this respect . When d buyers cn enforce/exercise the option.
                      Mr tushar11,

                      When JP doesn't have the money to pay 5.5% interest on legally contracted debt and has to send a notice to stock exchanges that they are defaulting, do you think they will find the money to refund principal even with 0% interest to homebuyers. If you read yash sir's post, they are struggling to pay even 50 lakhs to their contractor. Please use your common sense about how quickly they will give you back your money if you ask for it.

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