Announcement

Collapse
No announcement yet.

Jaypee Greens Wishtown, Noida

Collapse
X
Collapse

Jaypee Greens Wishtown, Noida

Last updated: April 27 2021
8881 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by Grenoite
    Sirji, if someone is coming from dnd to expressway the first building they see is abandon building near sector 15a by 3c, then when they enter expressway on right side see many incomplete buildings by supertech, bptp ,etc..on left unitech golf project abandon and on right wishtown abandon.

    This is what one see, now think what bad bad impression it makes on region. Biggest projects are flopping and give bad look and image of Noida which would have been best in delhi ncr

    Imagine if these projects were complete and full light and glowing like one see when enter gurgaon

    Only building which attract eye is ats hamlet light, advant and ats pristine, at night spl.

    The buildings in commercial zone also look very ugly and no modern, only advant look good

    I really wish more developing and look good so image of Noida is of modern city than a plave where builder cheat people
    It feels nice to wish and imagine one's dreams, but the stark reality is that JP is going to be put through the bankruptcy process pretty soon and home buyers will lose all their investments.

    Please try to keep the discussion focussed on facts and reality rather than dreams and imagination.

    Comment


    • Vbb128
      Vbb128 commented
      Editing a comment
      Hi. I have been following several posts made on this forum. I think these are all very useful perspectives but clearly anyone who is following these posts can see a pattern that some of our forum contributors are clearly biased against Jaypee. Can you tell me one large Builder who has delivered projects consistently since 2008? Can you tell me one Builder who is not overly leveraged?

      Now lets come to the current topic -

      1. Does anyone know if the data used by RBI (in this so called leak) is as of date (June 2017) or 2016? Have the recent divestures and proceeds there from, been taken into account?
      2. While RBI may have identified this account as a possible candidate for liquidation, this would only be done in case the Creditors do not arrive at a suitable recovery plan. In all the news published over the last 2 months, I think there was widespread reporting that Jaypee has reached suitable restructuring plans with the Banks. This includes land banks and other assets being taken over by the Banks. So what new data do you have to support the "gloom and doom"scenarios?

      In the end I think its wise to be aware and take the right decisions, but bashing Jaypee or creating a negative sentiment is not going to provide a solution. I think public pressure ought to be maintained and structured forums should continue to make their voices heard with the Jaypee management; law enforcement; media and the government. United we stand a better chance to succeed !!!

    • Grenoite
      Grenoite commented
      Editing a comment
      Sirji...pls read my comment. I have talk aboit reality only and name of other builders, u r concentrate only on jaypee.
      Dnd to noida expressway, 3c, bptp, unitech, supertech, sikka, jaypee all have incomplete projects which i hv talk about

      If u want only people to bash jaypee because you want so...to sirji aisa to nahin hoga

  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by Truenity View Post
    It feels nice to wish and imagine one's dreams, but the stark reality is that JP is going to be put through the bankruptcy process pretty soon and home buyers will lose all their investments.

    Please try to keep the discussion focussed on facts and reality rather than dreams and imagination.
    So true.

    But its not surprising that JP is going bankrupt.

    What I find really surprising is that some people still think (or at least till few weeks ago) that JP can repay debt anytime by selling a fraction of its 'huge land bank'. Some people still see 'land bank' as a big asset that can monetized anytime.
    'LIVE FOR INDIA'

    Comment


    • Re : Jaypee Greens Wishtown, Noida

      When would jp go bankrupt? This year , 2018, 2019, 2020 or when

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        I say 2018

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by NamoDya
          When would jp go bankrupt? This year , 2018, 2019, 2020 or when
          Bankruptcy proceedings are supposed to start anytime within a month, according to the RBI directive and get to the liquidation state in up to 270 days. This is the legal and technical situation.

          For all practical purposes, JP has been defaulting and been in an insolvent state for a while now. The only reason it ( and many other companies) has not already been bankrupted is the lack of a clearly defined framework and the reluctance of bank to admit that they made bad credit decisions and to recognize losses.

          The formal directive does make things much worse for day to day operations, though. Any contractor or supplier that does work on credit for JP, which is a common practice in the industry, is now almost certain to not get paid from a legal perspective. The same is true for employees whose salaries are delayed. So, the impact of this development will be felt almost immediately.

          Comment


          • Vbb128
            Vbb128 commented
            Editing a comment
            Another example where no research or lack of research is going to cause panic. Please do your homework ..... most of the lenders have high degree of provision against Jaypee and hence this is already adjusted in their P and L. In fact in 2017, RBI has allowed banks to classify some of Jaypee debt as a standard asset, thus reflecting a positive action based on debt restructuring measures taken by the company. The banks have also taken over the land parcels of Jaypee which are all actions taken in 2017. If you read the RBI leak and all the reports, they state that this status is as of March 2016. The situation is different now in 2017 due to asset sales by Jaypee.

            For your ready reference. Many more available if you take the time to research

            http://www.livemint.com/Companies/oK...fy-groups.html

            http://economictimes.indiatimes.com/...w/57263980.cms
            Last edited June 18 2017, 01:53 PM.

        • Re : Jaypee Greens Wishtown, Noida

          So what should customers do ?

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by bhuwan
            So what should customers do ?
            Many people on this forum had been advising people to get out of and stay away from JP projects. For those who have not followed this advice, it might be too late to do anything. If banks are going to be forced to take losses, customers, who are much lower in the bankruptcy credit waterfall, are unlikely to get anything. However, each person's legal situation is unique and one should consult a qualified lawyer for specific advice.

            If the majority of customers can organize themselves as a group, which is quite unlikely, they can petition to ring fence specific assets that are still unencumbered, which can then be used to finance construction of their homes. For example, they can try to get control of the golf course, get land use changed, ask for FAR increase and sell it to some builder who can sell new towers there in return for completing construction of incomplete projects.

            This is just a hypothetical suggestion. Bankruptcy under the new code is unprecedented and no one knows how exactly it will proceed, but it is certainly a good idea for everyone affected to get individual qualified legal advice to see what options, if any, they have.

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Bankruptcy proceedings of JP will formally start soon as per RBI directive. NPA is a huge problem for Banking sector and Political Govt has tried to avoid it since long time.

              Whereas RBI has issued the directive, there is still lack of clarity how this thing will Pan out. The Banking regulations amendment to handle NPA mess is again full of loopholes.

              Anyway, there will be 3 key players involved. PSU Banks, Private Sec Banks & other Creditors. All 3 will be looking to grab hold of JP leftover assets. There is absolutely no voice of customers of JP RE sector in Bankruptcy proceedings. Whereas actual Bankruptcy may take time, the spigot of money of JP will stop very very soon.

              If there was a Buyers association of JP project, they should be carefully study the unencumbered RE assets of JP and use legal means to ring fence these assets. Sale of these assets is the only hope for incomplete projects.

              Political Govt don't wanna touch clean up of RE sector with 10 ft poll. RE bill was prepared by previous Govt long ago but they delayed the passage by several years. Finally present Govt had the bill on its table but they again delayed the passage. Even after passage they delayed implementation by 1 year at least. RE clean up will start aggressively in 2019 that will result in bankruptcy of major RE players.

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                Certainly a bad news for Jaypee. However Liquidation shall come into picture only when Resolution is not found in 270 days, and we can hope a plan like debt restructuring/sale of assets/haircut on bank interest can be worked out . Company's day to day operations (Read construction at site) need not stop for all this period, but yes that will come under further stress.

                Comment


                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by Grenoite
                  Sirji, everyone talking big banks, rbi, land deals but i have one question

                  If land, then surely banks will like to take it, hospital, hotel, golf course any other party can take as no other people involve

                  Bit what about flat projects which sold to 1000s of buyers, will bank be even interested to take over it ? As they will also have to deal with buyers , will they want it ? I think no

                  I have hear rumours that jaypee gave commercial plot to paras builder in exchange for it to complete one of their project

                  I think if thats real happen then it could be a way out

                  Something like that can help buyers who stuck

                  I sure no bank will like to take over project land where flats half make and 1000s of buyers involve
                  That is right. Banks don't want to be involved in the mess of dealing with thousands of buyers. That is why they invoked SDR in the case of JP Power and JP Associates, but not in the case of JP Infratech.

                  The most likely scenario is that all assets will be auctioned off and because it's a fire sale , there won't be enough to pay off lenders. It is a legal way for JP management to wash their hands off the mess as the company will be wound up and customers, contractors etc will be left holding the bag. Once the bankruptcy proceedings are over, the promoter family can make a fresh start.

                  Comment

                  Tags: None
                  Have any questions or thoughts about this?
                  Working...
                  X