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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: 1 week ago
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  • Re : Jaypee Greens Wishtown, Noida

    Exactly on expected lines. I had posted earlier that NCRDC gives a favourable judgement and then the builder goes to SC, hires a high profile lawyer and manages a stay and gets time and additional concessions. The buyers are only sufferers.
    Last edited July 15 2016, 08:02 PM.

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by dineshsays View Post
      As recieved[ATTACH]78315[/ATTACH]
      what is this ?

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by jollygood View Post
        Exactly on expected lines. I had posted earlier that NCRDC gives a favourable judgement and then the builder goes to SC, hires a high profile lawyer and manages a stay and gets time and additional concessions. The buyers are only sufferers.
        Did you read the whole news?

        The stay, however, is subject to the company depositing Rs 4 crore with the court within two weeks.

        SC, however, did not stay two other parts of the NCDRC judgment which said Jaypee cannot charge for car parking and also for increase in super area of an apartment post construction unless they have prior consent of the buyer.

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        • Re : Jaypee Greens Wishtown, Noida

          After this judgement/stay,all gates are closed now for buyers. I can not understand the point of View of SC in staying this NCRDC order which is quite justified.

          This order has a very bad cascading effect in real estate.

          Now all builders will resort the same tactics.
          Last edited July 15 2016, 10:05 PM. Reason: Text formatting.

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by deser7rose View Post
            Did you read the whole news?

            The stay, however, is subject to the company depositing Rs 4 crore with the court within two weeks.

            SC, however, did not stay two other parts of the NCDRC judgment which said Jaypee cannot charge for car parking and also for increase in super area of an apartment post construction unless they have prior consent of the buyer.
            Just don't by the headlines. Depositing 4 cr to get another 6 months is a small price to pay for JP. Works out to Rs 1600 per apt if you consider 25K apts pending. Also does this 4 cr go to the buyers, no it goes to the govt treasury. Where does it leave the buyers who were celebrating after NCRDC judgement. This only emboldens the builders further. No wonder they care two hoots for the buyers.

            Just check how much the 10 buyers might have already spent in their legal battle esp in SC. And nothing to show at the end of it.
            Last edited July 15 2016, 10:37 PM. Reason: Text formatting.

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by jollygood View Post
              Just don't by the headlines. Depositing 4 cr to get another 6 months is a small price to pay for JP. Works out to Rs 1600 per apt if you consider 25K apts pending. Also does this 4 cr go to the buyers, no it goes to the govt treasury. Where does it leave the buyers who were celebrating after NCRDC judgement. This only emboldens the builders further. No wonder they care two hoots for the buyers.

              Just check how much the 10 buyers might have already spent in their legal battle esp in SC. And nothing to show at the end of it.
              There are 10 complainants. So it's 40 lacs/flat. Add kapil sibal charge. He is like Boman Irani of Jolly LLB and will suck as that is the only a way sibal can earn money now a days.

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              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by jollygood View Post
                Just don't by the headlines. Depositing 4 cr to get another 6 months..
                The Supreme Court has stayed the execution of a 12 per cent per annum penalty..... till August 3.

                Originally posted by jollygood View Post
                Also does this 4 cr go to the buyers, no it goes to the govt treasury.
                Ignorance is not bliss all the time. It's not a fine, it's a deposit. Where did you get the idea of this amount going to the Govt. Treasury? Deposit here is kind of security which SC is asking to deposit.

                No offense jollygood, all i am saying is we should make ourselves aware of the facts.

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                • Re : Jaypee Greens Wishtown, Noida

                  I would be most happy if buyers who go legal do get adequately compensated, but cannot recall a single case where they actually got the money. All favourable judgements in NCRDC or lower courts get overturned or stalled in the higher courts. Also it is expensive to sustain the case due to extremely high costs and time delays. The builders are using this to their advantage.

                  Even in this case I do not believe that the buyers can expect any immediate relief, expect a long protracted battle. The builders are loath to pay any compensation as this opens a Pandora box.

                  Let us see how things unfold on 3rd Aug.
                  Last edited July 16 2016, 01:55 PM. Reason: Text formatting.

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                  • Re : Jaypee Greens Wishtown, Noida

                    Case can easily go upto 3-5 years. Maybe even 10 years.

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                    • Re : Jaypee Greens Wishtown, Noida

                      Economic times today.
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