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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 Bharatiya View Post
    I can't speculate on laziness of Lenders. Though i think they've been giving big leeway to JP and JP still has much land bank around expressway along with many other assets than can be taken over.

    Dinesh Sir told that many Hectares of unencumbered land is there in WT. I don't know accuracy of this statement. But if its true, it should be liquidated to complete all pending projects.
    Mr Bharatiya,

    According to information given to t_yash sir by JP senior management, even greater noida golf course is mortgaged. Please ask yourself what is the probability that any unsold land in the incomplete wishtown project would be unencumbered when even unsold flats have been attached? At this point even Mr dineshsays will admit that is the truth.

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    • Re : Jaypee Greens Wishtown, Noida

      JP Greens Greater Noida golf course is a Jaypee Hotels asset. While the hotels group itself may have some debt I doubt if the Golf Course itself is encumbered as a seperate entity

      Over 100 acres of prime GC land is available in WT and some more in the non GC area. Yes.

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by wishtownhope View Post
        HDFC stops any further payment to Jaypee WT projects from the home loan account! Heard other banks like ICICI and Axis doing the same. Request experts to suggest what's the way out and what could be the implications?

        Just to clarify again, this is already sanctioned home loan, Jaypee sent demand letter for a time-linked payment plan property to which HDFC refuse to make the payment!

        Look forward to your valuable input on this....
        Mr wishtownhope,

        This is because of the unfortunate issue of dual financing I had been highlighting, but the army of JP investors on this forum was brushing under the carpet.

        As a simple illustration, lets say you have bought a flat being sold for 1 crore. You put in 20 lakhs of own money and borrow the rest. Lets say you have made 90% payment, so the bank has lent you 70 lakhs. The problem is that JP has also pledged the land and work in progress in the flat and borrowed 70 lakhs against it. Given JP's ( not Gaurs') precarious financial situation there is a big question mark on whether the flat will ever be completed. With total loans of 1.4 crore already outstanding against a property notionally worth 1 crore ( if it is ever completed) , no lender would like to throw good money after bad and disburse any more.

        Unfortunately, this means that cashflows for Wishtown joule would come even more strained and make it even less likely the project is ever completed. I emphathise with you but have no answers for you. All I would suggest is if you don't have lots of risk tolerance and can find a buyer, it might be worthwhile to consider selling your property.

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by dineshsays View Post
          JP Greens Greater Noida golf course is a Jaypee Hotels asset. While the hotels group itself may have some debt I doubt if the Golf Course itself is encumbered as a seperate entity

          Over 100 acres of prime GC land is available in WT and some more in the non GC area. Yes.
          Mr dineshsays,
          This information was posted by t_yash sir based on what Mr ajit Kumar told his group. Given your respective track records, I am inclined to place more credibility on what he is saying.

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          • Re : Jaypee Greens Wishtown, Noida

            Oh go ahead you place your faith in whoever you want. You think I write to convince/ engage with the likes of you.

            It doesn't change the FACT that over 100 acres are available.

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            • Re : Jaypee Greens Wishtown, Noida

              Moderators,
              Pls save us and implement rules of iref for the larger good of the forum.
              This daily drama of spitting and scooting is becoming too much.
              If this can not be done, i think i will leave iref as had been suggested by other contributing members.

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              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by dineshsays View Post
                Oh go ahead you place your faith in whoever you want. You think I write to convince/ engage with the likes of you.

                It doesn't change the FACT that over 100 acres are available.
                If 100 acre of unencumbered prime land is really "available", why is JP sitting on it while lenders force it to sell off its best cement plants and take over its headquarters? Why is this not being monetized to clear the massive defaults on debt and dues to contractors who have stopped work on most towers ? Are JP's lenders, who have taken lien on even greater noida golf course and unsold JP flats just twiddling their thumbs ?

                Readers can use their common sense and arrive at the conclusion.

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                • Re : Jaypee Greens Wishtown, Noida

                  Mr Gandhi - please once do some mathematics as you claim to be a genius - this hundred acre plot is amongst THE most valuable plot of land surrounded by BOTH sides by a Golf Course. If you do a FAR multiplier times 5000 (base selling rate less construction cost) times square feet available ie 5000 x 4356000 x 2 - the potential realisable amount is over 4300 Crore Rupees.

                  It is a known fact that in this market this high networth area will not give it's full worth.

                  As another example the shopping complex - Kalypso Arcade is about 70% ready - structure is 100% ready. They are still not selling it - anyone can walk into their office and ask why. Everytime the response will be - we will not get what is the true value of this project.

                  All JP is offering their lenders is any amount of land in YEW - which will take time to be fully realisable in any case. I am talking infratech only.

                  Rest most anything is up for grabs in any case.

                  Yes, readers can use their own common sense and arrive at their own conclusions

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                  • Re : Jaypee Greens Wishtown, Noida

                    Mr Gandhi - can you give an offhanded summary of how much Jaypee has been able to sell off and how much is left - in approx thousand crores.

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                    • Re : Jaypee Greens Wishtown, Noida

                      Originally posted by dineshsays View Post
                      Mr Gandhi - can you give an offhanded summary of how much Jaypee has been able to sell off and how much is left - in approx thousand crores.
                      Mr dineshsays,

                      It is not my full time job to track what is going on with JP's financials. However, there are highly paid and highly qualified people who do it for a living and their collective opinion is reflected in the all time lows in JP group companies' share price and the default rating on all of its debt. By the way, may I ask if you have any other profession ?

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