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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: 4 days ago
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  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by raabta View Post
    I must say, that Mr Arvind Jain is a very intelligent individual. The petition and requests are very logical and should be implemented.

    Members have posted experts and are twisting facts and their relevance.

    Please read the petition in entirety to understand it.
    While some JP investors on this forum claim that there are good prospects of completion of WT, the President of WT owners welfare association says that hopes of completion of WT are now shattered since JP Infra is going into Bankruptcy proceedings.

    So some investors are promoting JP on forum while WT's own President see grave danger of failure of WT project with upcoming Bankruptcy of JP.

    4. Recently Jaypee arranged fresh funds of about Rs. 1800 Crores including their own contribution and loans. Construction of the stalled housing units were restarted and 25000 buyers had a renewed hope that they will get their homes sooner or later. But our hopes are now shattered to see name of Jaypee Infratech Limited in the list of 12 NPA accounts released by Banks.

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by Bharatiya View Post

      While some JP investors on this forum claim that there are good prospects of completion of WT, the President of WT owners welfare association says that hopes of completion of WT are now shattered since JP Infra is going into Bankruptcy proceedings.

      So some investors are promoting JP on forum while WT's own President see grave danger of failure of WT project with upcoming Bankruptcy of JP.
      The investors would not like to take a risk,afterall its their money at stake.

      Everybody has their reasons - Some have personal vendetta against Jaypee, some have too much time, some are just brokers trying to find a suitable buyer, and some are just prospective buyers on lookout.
      a cat not able to catch mice will scratch the pillar in frustration

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      • Re : Jaypee Greens Wishtown, Noida

        I should also get Debt moratorium on my car loan for 5 years because i am having tough time. I should also get Debt moratorium on my home loan and property tax. And SBI should restructure all my loans and give me new personal loans at low interest rates.

        Why should Noida authority give Debt moratorium to JP on payment of pending dues? Why should Banks give debt moratorium to JP home buyers on their loans & EMIs? Why should Banks offer new loans to JP for completion of WT? Why?

        Bank kya JP ke baap ke hain? Noida authority & UP Govt kya JP ke baap ki hai?

        JP had all the money to complete WT. Its the greed & corruption of JP that sunk the project. Now don't ask bailout from Govt and Banks. I share sympathy for buyers and end users stuck in JP project. But why asking Govt and banks to cover for mistakes of JP management?

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        • Re : Jaypee Greens Wishtown, Noida

          Yes, they over-leveraged their position and risked everything. It did not go their way. They would pay for it and they are already paying for it.

          Punishing JP should not mean punishing people who bought in JP.
          a cat not able to catch mice will scratch the pillar in frustration

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          • Re : Jaypee Greens Wishtown, Noida

            Banks aren't going to give anymore loans for completion of WT. UP Govt isn't going to give Debt moratorium on JP dues. JP creditor Banks and YEIDA don't care about home buyers. Their interests is in recovering their dues which JP has been stalling since long time. Restructuring has never helped JP in past so bankruptcy is the inevitable option.

            Do you think SBI or ICICI bank care if some WT project home buyers are stuck in project. Goal of banks is to clean up their balance sheets and nothing else.

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by Bharatiya View Post
              Banks aren't going to give anymore loans for completion of WT. UP Govt isn't going to give Debt moratorium on JP dues. JP creditor Banks and YEIDA don't care about home buyers. Their interests is in recovering their dues which JP has been stalling since long time. Restructuring has never helped JP in past so bankruptcy is the inevitable option.

              Do you think SBI or ICICI bank care if some WT project home buyers are stuck in project. Goal of banks is to clean up their balance sheets and nothing else.
              Look at the bigger picture. - Read the appeal carefully. As Mr Arvind rightly says, if JP is declared bankrupt, then homebuyers would not pay EMIs, this would again give rise to NPAs. How are the balance sheets getting cleaned up?

              a cat not able to catch mice will scratch the pillar in frustration

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              • Re : Jaypee Greens Wishtown, Noida

                There is no clause in Loan agreement that says that loan taker can stop paying EMIs to bank if the builder project gets stalled for any reason. On what basis can JP home buyers can stop paying EMIs in case project work is stopped? There is no legal bases.

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                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by Bharatiya View Post
                  There is no clause in Loan agreement that says that loan taker can stop paying EMIs to bank if the builder project gets stalled for any reason. On what basis can JP home buyers can stop paying EMIs in case project work is stopped? There is no legal bases.
                  There is no asset to be paid for. Banks are supposed to do due diligence before proving a loan.
                  Sure - Banks can drag these people to court, but in court - considering they are 2k + members, would club them in a case that would go on for years and no emi's would be paid until then.
                  Ofcourse - this is all a speculation, but seems logical.
                  a cat not able to catch mice will scratch the pillar in frustration

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                  • Bharatiya
                    Bharatiya commented
                    Editing a comment
                    I see JP buyers interviews in news reports who are paying EMIs even when their possession is delayed by several years. They cannot stop paying EMIs as they have to comply with loan agreement...no matter what the status of builder project is. That's been a big problem, not just for JP, but for stuck home buyers for all other u/c projects as well.

                • 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.

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                  • 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?
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