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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 TalkStraight View Post

    This news is heartening, and pretty welcome one after a long time. Reminds me of the quote - " small step for a man, a giant leap for mankind "
    Hoping for things to improve slowly but surely for wishtown noida.
    Two more points, Knights court was not part of the 70 priority towers but there was some activity there as well. I guess that the 70 towers which JP had listed are a guideline about the priority towers but the areas where construction will happen in the initial stages are not restricted to them. There was also a lot of activity in the non golfing plots. KP2 I beleive. I could spot at least 12-15 houses under various stages of construction. I spoke to one of the contractors, he is talking to 4 other plot owners about their contracts so I think we will see the plots starting to fill up sooner than we think.

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    • Re : Jaypee Greens Wishtown, Noida

      Debt-hit firms selling assets, but Jaypee shows how loans remain

      • Beena Parmar and Ramsurya Mamidenna, Hindustan Times, Mumbai
      • |
      • Updated: Oct 21, 2016 11:31 IST


      The move to cut bad loans that have been impacting profitability of India’s top banks has pushed many debt-ridden companies to sell assets over the past three years.

      But this has not led to any significant reduction in the overall borrowings as the proceeds from asset sales have been used to meet interest dues keeping the principal mostly intact.

      According to bankers and distressed sale experts, this is due to the conventional banking norm of recovering the interest portion of a loan first. This was negotiated between banks and companies when they redrew payment structures for infrastructure, textile and steel companies due to the downturn.

      Asset sales have been common this year, primarily with debt-heavy companies. Reliance Infra sold its cement unit to Birla Corp for ₹4,800 crore and Jindal Steel and Power sold its power plant to JSW Energy for ₹6,500 crore.

      Sell offs by three companies — Essar and Reliance Group apart from JPA — alone this year are likely to help banks reduce their debt by around ₹70,000 crore. But the same may not help the companies such as JPA as much.

      “It’s a big issue…of banks not taking a haircut and of companies finding most of their sale funds for interest only. It is likely that firms such as Jaiprakash (Associates) and others may not see much reduction in their overall debt,” said a veteran banking expert, who was involved in advancing loans to large corporates.

      Delhi-based infrastructure major Jaiprakash Associates Ltd (JAL), is currently grappling with a consolidated debt of about ₹58,250 crore as of March 31, 2016, which is more than what the group can service, prompting the company to sell assets to lighten the load.

      Since September 2013, Jaiprakash has sold about ₹33,380 crore worth of cement and power plants. While the company declined to talk on the issue officially, a senior executive said: “Banks have to take a pragmatic view for companies who have created assets for the country and have shown proactive approach for de-leveraging.”

      But relaxation looks difficult. “Given the condition in which some debt-heavy Indian companies find themselves, they have limited options, but to sell assets. In some cases, there could be a meaningful reduction of the principal amount if the assets are profitable, such as Essar Oil’s refinery. It would be difficult to say how many, who do not have strong cash flows, would see significant reduction in their overall debt,” said Sanjeev Prasad, senior executive director and co-head at Kotak Institutional Equities.

      Then there is the threat of lost ability to service debts as most assets have been sold. Nirmal Gangwal, founder of Brescon Corporate Advisors, which looks at turnaround of stressed companies, said, “Most of the debt in India is in steel, infrastructure and power, and not much of it is saleable unless there is a revival.”



      Link: http://www.hindustantimes.com/busine...2rSkpXfNJ.html

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      • Re : Jaypee Greens Wishtown, Noida

        This article does not factor their land banks, their hotels and so many other assets. I am not sure about their total liabilities but this article for sure is a half cooked job.

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        • Re : Jaypee Greens Wishtown, Noida

          AnyOne has any info for kasa isles ?

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          • Re : Jaypee Greens Wishtown, Noida

            I have heard that work is completely stopped for the project , Do people have any group to discuss next course of action. ?

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by TalkStraight View Post
              almost one and a half month has passed on the 3rd SEP-16 meeting... with all the assurance of restarting construction in 70 towers, whats the progress on the ground ?
              only news received so far on forums is that JP has cleared pending dues for some contractors and some slow movement in some towers... thats it ... nothing much.
              What are dates of next meeting with Jaypee management to oversee the progress of last meeting.

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              • Re : Jaypee Greens Wishtown, Noida

                Today i visited Sec 105 and Sec 135. I was traveling along service roads along expressway around WT. No sign of any activity or work.

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                • TalkStraight
                  TalkStraight commented
                  Editing a comment
                  To an extent your observation is right.
                  Only work that is going on is internal finishing type, so will not be easily evident from distance.
                  Recently have seen finishing pics of klassic and pavilion clubs indicating there is slow but steady movement happening in the identified towers & projects

              • Re : Jaypee Greens Wishtown, Noida

                I visited WT on Friday morning. There were lots of trucks and labour coming in for duties. Was happy to see at least 30+ plots under construction in KP 2 alone, where construction activity was underway with private contractors. I was told KP1 had even more. A couple of the KBA towers looked to have advanced further. GC side also had maintenance activities going on with a large team pruning trees along roads. Overall, there appeared to be more activity than I have seen in previous visits this year.

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                • Re : Jaypee Greens Wishtown, Noida

                  Many investors will build for minimum CC as construction deadline is approaching. Other may wanna delay CC by paying penalty for a short while.

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                  • Re : Jaypee Greens Wishtown, Noida

                    Until now supreme court has allowed buyers to get refunds from builders and reserved judgement on the penal interest (with refund) OR delayed possession penalty.
                    Hearing of arguments in supreme court is expected to start in coming months (Unitech Jan17 ... Parasvnath Dec16 .... Jaypee Kalypso Nov16)
                    1. Weather builders are liable to pay interest on refund of a delayed project OR are liable to pay delayed possession penalty
                    2. How much should be the maximum amount (upper limit) of this penalty compared to cost of apartment ?
                    3. What should be ideal grace period for delay, because of unforeseen situations like NGT etc..

                    I noticed one very interesting aspect of handling a secured loan by banks VS court proceedings w.r.t unsecured advances from customers.
                    Whereas interest is the primary component and should always be paid before principle to banks;
                    Same interest becomes secondary and debatable aspect when it comes to customer advances.

                    Courts have to set a precedence and order exemplary penalty inorder to uphold customer advances on similar levels like banks secured loans. Although supreme courts might want to side the general public sentiment of upholding NCDRC judgement on penalty; common sense tells me loan from a bank VS advance to accomplish a task are two different things all together.

                    For a moment assuming in terms of common man situation -
                    If a contractor takes advance from you for doing certain job like modular kitchen or internal finishing etc.. is he liable to pay interest on capital if he somehow happened to delay the task ? Obviously no one demands interest from him, maximum if he is unable to do the job we demand our money back. OR if he did a shoddy job we deduct some amount from final payment.
                    Then why situation becomes so very different in case of a developer ( BIG contractor ) unable to give houses on time? Simply because amount involved is BIG !!

                    Post RERA implementation this ambiguity will get clarified and there will be rules to protect customer interests, but i doubt if this could be implemented retrospectively especially the delay penalty & interest part.
                    In absence of a clear contract between 2 parties builder and customer much damage is already done over last decade or so.

                    Question for the court to answer would be
                    " Should the developer be liable to pay anything more than equivalent rent ( max. @2.5% in india ) for delaying the project beyond grace period ? "
                    If court decides rent as basis for compensation then it will be victory for the entire developer lobby... which direction will the courts be heading towards... well time will tell impact of high profile laywer team representing developers.
                    Last edited November 1 2016, 12:13 PM.

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