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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

    If i buy a car on loan and my car is destroyed in a car accident, does that mean i don't have to pay loan?

    Regarding WT, there will be a big legal mess involving creditor banks, Noida authority, JP investors & home buyers (years of court cases etc). There is no way to avoid it. That's why one should avoid buying in WT. Of course the prices in WT are discounted for these reasons. One should carefully weigh his risk/return appetite.

    Comment


    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by Bharatiya View Post
      If i buy a car on loan and my car is destroyed in a car accident, does that mean i don't have to pay loan?

      Regarding WT, there will be a big legal mess involving creditor banks, Noida authority, JP investors & home buyers (years of court cases etc). There is no way to avoid it. That's why one should avoid buying in WT. Of course the prices in WT are discounted for these reasons. One should carefully weigh his risk/return appetite.
      You are simplifying...you HAD a car, you were driving it.
      a cat not able to catch mice will scratch the pillar in frustration

      Comment


      • raabta
        raabta commented
        Editing a comment
        There is no tangible asset here. Home loans are mortgages against the property under construction. If buyers dont pay emi's the banks are the owners of there flats. But there is no flat to be taken over !!

      • Bharatiya
        Bharatiya commented
        Editing a comment
        If my car on loan gets destroyed in accident, then there won't be any tangible asset to take over for bank in case of default. Does that mean i can stop paying my EMI on car loan?

      • raabta
        raabta commented
        Editing a comment
        I think we are going in circles.

        You had a car, it is not dealers or manufacturers responsibility now.

        Here, the user never really had the car, it was never delivered. A more appropriate e example would be you applied for a car loan, it was sanctioned but the car never came. What would happen now?

    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by Bharatiya View Post
      Looks like the petition to stop Bankruptcy is actually filed by Manoj Gaur in disguise. Read the content of petition. It says that Banks, UP Politicians, Bureaucrats and Govt are responsible for failure of WT project..
      I fully agree here, Past govts are responsible for destroying the noida RE. Why they allotted Prime land to third class builders (may be by taking huge commissions)?

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        Good discussion guys...would like to sum up my findings for benefit of larger community.

        - Dont buy in wishtown till this haze of bankruptcy is cleared.
        - RTM with OC : maybe, provided you are ready to form RWAs and maintain common areas.
        - Plots : Yes but only with CC done. The rates i got are surprising to say the least. The owners need to come to their senses.

        All in all - a very risky proposition with high gain potential
        So logging out of wishtown for now.

        Thanks for good passionate discussion Truenity Bhartiya
        Last edited July 6 2017, 02:21 PM.
        a cat not able to catch mice will scratch the pillar in frustration

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          From what I heard from JP buyers, Mr Arvind Jain lives in London and has already gotten delivery of his flat in Kalypso. He is apparently also involved in the legal case against JP that is in the Supreme Court. Many buyers blame him for acting on the behest of JP and using his leadership position for personal leverage in getting his flat.

          I don't know Mr Jain personally and have no way of verifying if any of this information is true. I would normally not comment on private individuals, but Mr Jain has apparently courted publicity, given several tv and newspaper interviews and made himself a public figure.

          If my post violates the forum rules, moderators can delete it.

          Comment


          • dipak44
            dipak44 commented
            Editing a comment
            Mr Arvind Jain does not live in London. He is on a visit to family and friends there.

        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by raabta

          You are simplifying...you HAD a car, you were driving it.
          The law is quite clear. Just because some asset bought with borrowed money goes sour, it does not absolve the borrower from having to repay the loan. By the same logic, JP can refuse to honor their loans because their business plans flopped.

          Nobody forced JP investors to take loans to buy properties in Wishtown. That decision should have been taken after a careful analysis of upside and downside risks. Unfortunately, as is being done in many posts recently, people only looked at the former and not the latter.

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by raabta
            Good discussion guys...would like to sum up my findings for benefit of larger community.

            - Dont buy in wishtown till this haze of bankruptcy is cleared.
            - RTM with OC : maybe, provided you are ready to form RWAs and maintain common areas.
            - Plots : Yes but only with CC done. The rates i got are surprising to say the least. The owners need to come to their senses.

            All in all - a very risky proposition with high gain potential
            So logging out of wishtown for now.

            Thanks for good passionate discussion Truenity Bhartiya
            Technically, because of the leasehold structure in Noida, JP will always be involved in the "ownership" agreement-even after a potential bankruptcy. There is no legal precedent for a situation like this and it is not clear how it will be dealt with.

            Also, while some towers have been handed over, I don't believe there is a single project in Wishtown which has been completely handed over. Supposedly RTM properties in Wishtown may not be as risk free as people believe.

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Npa arises when someone stop paying interest, principal or EMI intentionally or unintentionally. If for solving one problem u create the other bigger problem then whole purpose is defeated.

              If lenders try to recover money from jaypee n send it to liquidation then many or most of buyers of Jaypee flat would be forced to stop paying EMI due to financial problems. It would be bigger problem for banks to recover those money from each n every individual because there is virtually no asset as collateral. Petition seems to point out that in my pov

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by aONEinvestor
                Npa arises when someone stop paying interest, principal or EMI intentionally or unintentionally. If for solving one problem u create the other bigger problem then whole purpose is defeated.

                If lenders try to recover money from jaypee n send it to liquidation then many or most of buyers of Jaypee flat would be forced to stop paying EMI due to financial problems. It would be bigger problem for banks to recover those money from each n every individual because there is virtually no asset as collateral. Petition seems to point out that in my pov
                If JP goes into liquidation, it doesn't mean that the buyers' claim on their property disappears, though it does probably become almost worthless. Similarly, for those who have taken loans, their liability does not disappear. How they deal with it is a personal matter between them and their banks.

                There are many investors who have taken no loans. It is not as if they will be given a refund.

                Comment


                • firstimebuy
                  firstimebuy commented
                  Editing a comment
                  For completed towers, there is zero risk. It is the unfortunate buyers who are stuck with the UC projects.
                  Developer know as Pearls made pearls gateway towers.. right next to bus adda near botanical garden in noida.
                  The company is bankcrupt, undergoing CBI and SEBI inquiries for ponzi schemes etc etc.
                  But that does not put the residents there at any risk. Once property is registered in your name.. its yours
                  period

              • Re : Jaypee Greens Wishtown, Noida

                Guys...stop quoting me.
                a cat not able to catch mice will scratch the pillar in frustration

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