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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

    On a lighter vein
    I think some of the builders were clairvoyant, naming their projects aptly
    JP wishtown keep wishing
    O my God don't tell me you were not forewarned
    Mist Avenue everything is hidden behind the mist
    Amarpalli Hanging gardens all left hanging.
    Supertec Czar autocratic functioning created 1000 extra apts
    Last edited June 16 2016, 08:32 AM.

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    • Re : Jaypee Greens Wishtown, Noida

      There doesn't seems to be a simple way out. All the money being generated is going back to banks.

      When Jaypee knows it costs nothing to keep Wishtown in limbo, so where is the incentive to restart it.

      They are telling lies and everyone knows that but are helpless.

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by juyal1503 View Post
        There doesn't seems to be a simple way out. All the money being generated is going back to banks.

        When Jaypee knows it costs nothing to keep Wishtown in limbo, so where is the incentive to restart it.

        They are telling lies and everyone knows that but are helpless.
        In fact there is a very simple solution, you can get together 1000 to 2000 persons, even those who got possession and they need to file a stay order against all asset sales being made by JP and demand that this be deposited in an escrow account till JP completes its obligations towards flat buyers. Even if the courts may not agree to full payment in an escrow account, the buyers can insist for a proportionate payment to deposited in an escrow account for completion of the under construction properties. The persons who got the possession can be party to this as they did not not get all the facilities like club etc that they have paid for . The lawyer only needs to prove that the other assets are created by monies paid by the flat buyers.

        The idea is to just create a stumbling block so that JP and banks and other lenders are not able to monetize the assets and whisk the money out of JP. If that happens the buyers are staring down the barrel.

        May be some lawyers on the forum can comment

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by jollygood View Post
          In fact there is a very simple solution, you can get together 1000 to 2000 persons, even those who got possession and they need to file a stay order against all asset sales being made by JP and demand that this be deposited in an escrow account till JP completes its obligations towards flat buyers.

          NCDRC or any local Court can't pass order of such magnitude. Only SC can do it. I already explained the idea.

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by Bharatiya View Post
            NCDRC or any local Court can't pass order of such magnitude. Only SC can do it. I already explained the idea.
            @Bharatiya

            Yes but 2k buyers approaching SC to obtain a stay should not be too difficult. This would put the brakes on these firesales that are currently happening.
            If not the flat buyers are left with semi constructed flats and an enfeebled shell company that has no wherewithal to complete their apts.

            I am not trying to be an alarmist but just attempting to understand how the asset monetization helps apt buyers if money is used only to pare debt. Is my reading of the situation flawed? Hope you can clarify.

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            • Re : Jaypee Greens Wishtown, Noida

              We are already pursuing in NCDRC. But for a larger group there is a need to make the group larger involving different towers.

              Buyers need to have a say in these firesales otherwise completion will be a dream. I noted in our group that most of the buyers have already paid more than 90% so there is little to be collected by Jaypee.

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              • Re : Jaypee Greens Wishtown, Noida

                2008-2012
                ========
                Jaypee Political back Up - BEST ever in history of U.P (BSP in Full majority)
                Financial Health - Good
                Stocks Value - Approx. Rs.50-100 (I am not "Paper Money" fellow but remember these quotes from fellow colleagues)

                Speed of Construction in Wishtown - Nothing Extra ordinary, Only a Handful have "OK" Speed, many "Slow"..many "Super Slow"
                Resale rates - Not the Best % returns.

                Not even a Single Project had Phenomenal Speed , Nor Best in the region % appreciation


                BUT DURING THIS TIME:
                Jaypee Expanded substantially in Education, Healthcare, Entertainment (F1 track)


                WILL HE OR WONT HE
                ===================

                1. Jaypee has already lost its "Image" or Brand Value in the market and Senior Gaur is now Too Old to control things. Eventually Control will be passed on Officially also to New Generation, who uptil now have NOT shown any interest in Real Estate Business

                2. Real estate is in a BAD state now and in Noida shall remain for a long time due to Massive Oversupply. Plus activism and new rules, etc are coming up slowly by steadily and effecting the profits a Builder would make before, Making it a Fruit whose Majority Juice has been extracted in this region

                3. Jaypee is progressing slowly but steadily in the field of Healthcare and Education and these are HOT BUSINESS Ventures which rarely fall apart. If one notices...most businessmen are now foraying in this....Examples
                3C - lotus valley schools
                Gaur - gaur school
                Jaypee - jaypee school
                Waves - Genesis
                Haldiram - Gyanshree
                HCL - Shiv nadar school and University
                HCL - Avita Healthcare
                Etc Etc Etc


                4. Hardly any Prominent / in Demand Land bank left with Jaypee in Noida and Gnoida

                5. Since all of them are townships....they need to be maintained also...and thats a Less profitable business and a lot of headache



                What would a businessman think....from HIS point of view ?????

                - Invest Whatever money he will get from selling his land banks, other industries in Real estate where there is No great scope of Picking up business fast....plus a lot of headache

                OR

                - Go for Other ventures where Money can be generated as fast as possible


                SIMPLE BUSINESS SENSE
                ======================

                1. Use Maintenance Money and Extra Charges like increased super area, etc etc etc to Complete the projects where a lot of halla / shor is happening.
                This obviously means that money collected from one project maintenance will go into finishing of another project
                And this means...Maintenance will be effected in a negative way

                2. Whatever Bulk money is coming.....reduce debts...and then INVEST in Healthcare and Edcuation and other ventures which can give Far better profit....and least headache

                3. Expansion of Jaypee Hospital is planned in a Big way......Its all set to be biggest and most advanced tertirary hospital in that side of NCR....and bang on gateway of U.P....which now will further be connected to Lucknow via Agra - Lucknow expressway in 4-5 months
                Feeder hospitals can be made in Towns all over U.P....


                CONCLUSION
                ===========

                A builder who NEVER had any intention to complete his project from the word go...and told all his Channel Partners, underwriters to openly say that "DELAYS ARE EXPECTED WITH JAYPEE" To buyers from Day 1

                expecting him to pump money in a Business venture....who Pulp remains....Fruit juice already extracted

                and at same time..expecting him to maintain the township in a Good way


                Is not something a Buyer should Risk his money at


                As i said before....DONOT be surprised...if Golf courses and Clubs of Jaypee soon are leased out for Marriage Functions, Events a, etc etc etc.....

                Real estate was soemthing they were never interestd in As a Developer....it was and is just a cash cow for jaypee

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                • Re : Jaypee Greens Wishtown, Noida

                  zohaib2012; Well Jaypee hospital business is not at all running well .... A friend of mine works as a Doctor there and she is thinking of quitting next month. I asked her reason for quitting .. She said Surrounding townships are not populated ... jab log rahne nahin aa rahe to patients kahan se aayenge ????... ditto with other ventures in & around JP WT.
                  Last edited June 17 2016, 04:12 PM. Reason: user tag

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                  • Re : Jaypee Greens Wishtown, Noida

                    F1 is also now sitting idle and only used for music concerts etc .. All wastage of buyers money .. Bad management!

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                    • Re : Jaypee Greens Wishtown, Noida

                      IDFC BANK has recently agreed 4 days ago through an escrow account will fund jaypee 1000 crores to complete jaypee wish town as this is what is required to complete wish town. This amount will not be credited to jaypee at 1 shot , jaypee will send request for release of funds as and when it's required , let say they need 5 crores to finish tilling work of x building then bank will release 5 crores and will start charging them interest based on that. Jaypee has drafted and project return of this money to bank based on his completion of buildings and he will get pending dues and maintainence on a monthly basis which will help in paying this debt.

                      Can some one confirm the authenticity of this news.....?

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