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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

    The news is that after Mr Sameer Gaur, Mr Sachin Gaur has also resigned from the company for "personal reasons ". Is anyone from the promoter family still involved in the business or are bankers formally calling the shots now ?

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    • Re : Jaypee Greens Wishtown, Noida

      Folks
      Just received an email from JP stating that they have reduced interest on late payment to 9÷ based on current market conditions. It probably doesn't mean much for folks who have already paid a lot upfront but I find the email a rather strange act..
      why would they waste time with such a meaningless offer?

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by anantv
        Folks
        Just received an email from JP stating that they have reduced interest on late payment to 9ďż˝ based on current market conditions. It probably doesn't mean much for folks who have already paid a lot upfront but I find the email a rather strange act..
        why would they waste time with such a meaningless offer?
        They are facing many lawduits demanding compensation for delays. They can try to reduce the penalty rate if they can claim they are themselves charging a lower rate for delayed payments.

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        • Re : Jaypee Greens Wishtown, Noida

          Jaiprakash Associates share up more than 25% in last 2 days! Whats cooking? Or its simply effect of lower interest rates thereby lowering the debt cost?
          Last edited January 5 2017, 02:36 PM.

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          • Re : Jaypee Greens Wishtown, Noida

            Its called pump and dump and all too common with penny stocks. Look at what happened with JP last year.

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            • Re : Jaypee Greens Wishtown, Noida

              Hello all.

              I am writing to ask for your guidance because Jaypee is giving me the run around. I have searched, but failed to find the answer on the forum.

              1. I am the original allottee of a flat in Kalpyso Court (one of the towers which is not and is likely not be complete for many years (if ever) at the rate at which things are going). I need to transfer the apartment to my parents and asked Jaypee to clarify the process. Customer care says that if I transfer the apartment, the new owner (my dad and mum) will not receive any delay damages from Jaypee. Is this correct, why?

              2. To confuse matters, someone started talking about a different process - an "assignment to a blood relative" - whatever that means. Is that somehow different from transferring the apartment to my parents? To be clear I am not selling the apartment to my parents or taking any money. I just want them to have the apartment if and when it is ready and (for a number of reasons) I need to complete the transfer now. I don't want them not to benefit from the delay damages which Jaypee should pay us all at the time of completion.

              3. Lastly, if there is a transfer, does Jaypee charge a fee? Does anyone have any idea how much Jaypee charges?

              Any thoughts or suggestions? At this stage, all I have is a provisional allotment letter. The bank loan is paid off. About 30% of the price needs to be paid on completion. I am up to date with all my payments.

              Thank you all for all your help. I am outside of India and travel back infrequently, so can't walk into their office and get hold of someone.

              Best,
              Caramba80

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by caramba80 View Post
                Hello all.

                I am writing to ask for your guidance because Jaypee is giving me the run around. I have searched, but failed to find the answer on the forum.

                1. I am the original allottee of a flat in Kalpyso Court (one of the towers which is not and is likely not be complete for many years (if ever) at the rate at which things are going). I need to transfer the apartment to my parents and asked Jaypee to clarify the process. Customer care says that if I transfer the apartment, the new owner (my dad and mum) will not receive any delay damages from Jaypee. Is this correct, why?

                2. To confuse matters, someone started talking about a different process - an "assignment to a blood relative" - whatever that means. Is that somehow different from transferring the apartment to my parents? To be clear I am not selling the apartment to my parents or taking any money. I just want them to have the apartment if and when it is ready and (for a number of reasons) I need to complete the transfer now. I don't want them not to benefit from the delay damages which Jaypee should pay us all at the time of completion.

                3. Lastly, if there is a transfer, does Jaypee charge a fee? Does anyone have any idea how much Jaypee charges?

                Any thoughts or suggestions? At this stage, all I have is a provisional allotment letter. The bank loan is paid off. About 30% of the price needs to be paid on completion. I am up to date with all my payments.

                Thank you all for all your help. I am outside of India and travel back infrequently, so can't walk into their office and get hold of someone.

                Best,
                Caramba80
                1. Jaypee in the past, I think has passed on the delay damages to new owners, unless they have changed it now. You need to speak to someone higher than 'customer care' I advise a visit to their office. Please bear in mind your parents are a different legal entity than you and thus Jaypee will make you/them sign new conditions of allotment.

                2. If an option like this exists should be easier and better to explore.

                3. For Transfer Jaypee charges 25000/-

                What is the objective of transfer, if it is only follow ups with Jaypee and paperwork, a power of attorney should be an easy recourse.
                If you consult a lawyer you may have the right answers.
                best.
                Last edited January 11 2017, 06:59 PM.

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                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by caramba80
                  Hello all.

                  I am writing to ask for your guidance because Jaypee is giving me the run around. I have searched, but failed to find the answer on the forum.

                  1. I am the original allottee of a flat in Kalpyso Court (one of the towers which is not and is likely not be complete for many years (if ever) at the rate at which things are going). I need to transfer the apartment to my parents and asked Jaypee to clarify the process. Customer care says that if I transfer the apartment, the new owner (my dad and mum) will not receive any delay damages from Jaypee. Is this correct, why?

                  2. To confuse matters, someone started talking about a different process - an "assignment to a blood relative" - whatever that means. Is that somehow different from transferring the apartment to my parents? To be clear I am not selling the apartment to my parents or taking any money. I just want them to have the apartment if and when it is ready and (for a number of reasons) I need to complete the transfer now. I don't want them not to benefit from the delay damages which Jaypee should pay us all at the time of completion.

                  3. Lastly, if there is a transfer, does Jaypee charge a fee? Does anyone have any idea how much Jaypee charges?

                  Any thoughts or suggestions? At this stage, all I have is a provisional allotment letter. The bank loan is paid off. About 30% of the price needs to be paid on completion. I am up to date with all my payments.

                  Thank you all for all your help. I am outside of India and travel back infrequently, so can't walk into their office and get hold of someone.

                  Best,
                  Caramba80
                  One option is to add your parents as allotees now and then remove your name from the list at the time of registration of the property.

                  Btw , isn't kalypso court a complete and RTM project ? I didn't realize it was years from completion.

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                  • Re : Jaypee Greens Wishtown, Noida

                    Thanks both.

                    1. @SanjeevG: Jaypee has responded by saying "Please note that as per company policy in case of ownership transfer the delay compensation shall not be passed on to the new owner." I am not in India, so I suppose my dad or mum will have to start making rounds of Jaypee to speak with people above customer care.

                    2. @SanjeevG: The objective of the transfer is to gift the property to my parents and to have no further interest in it going forward. I will try and speak with a lawyer.

                    3. @Truenity: Alas, no. See KT-8, 9 and 10 - all under construction with little meaningful progress in the last few months.

                    Thank you all. Does anyone have names to suggest of good lawyers who are familiar with Jaypee's procedures? I am not looking for a cheap lawyer who reproduces paperwork from the last deal - I want a really good lawyer who is client focused and understands Jaypee and real estate in Noida.

                    Comment


                    • Re : Jaypee Greens Wishtown, Noida

                      Originally posted by caramba80
                      Thanks both.

                      1. @SanjeevG: Jaypee has responded by saying "Please note that as per company policy in case of ownership transfer the delay compensation shall not be passed on to the new owner." I am not in India, so I suppose my dad or mum will have to start making rounds of Jaypee to speak with people above customer care.

                      2. @SanjeevG: The objective of the transfer is to gift the property to my parents and to have no further interest in it going forward. I will try and speak with a lawyer.

                      3. @Truenity: Alas, no. See KT-8, 9 and 10 - all under construction with little meaningful progress in the last few months.

                      Thank you all. Does anyone have names to suggest of good lawyers who are familiar with Jaypee's procedures? I am not looking for a cheap lawyer who reproduces paperwork from the last deal - I want a really good lawyer who is client focused and understands Jaypee and real estate in Noida.
                      Sahil Sethi won a case against Jaypee in NCRDC and is now fighting it in Supreme Court, where Jaypee is represented by Kapil Sibal ( effectively his son).

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