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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

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  • Re : Jaypee Greens Wishtown, Noida

    1,000 home buyers of Jaypee project to soon get possession

    Noida Authority CEO said the Authority has completed the inspections of nine towers across the three projects and will be issuing the completion certificates by July 17.Vandana Keelor | TNN | Updated: July 14, 2017, 08:45 IST

    NOIDA: The Noida AuthorityCEO Amit Mohan Prasad on Thursday said that relief is in store for 1,000 homebuyers with residences in three of Jaypee group's housing projects. Prasad said the Authority has completed the inspections of nine towers across the three projects and will be issuing the completion certificates by July 17.

    Speaking to TOI, Prasad said the three projects include Jaypee Aman, Jaypee Cosmos and Jaypee Klassic, all of which are located in Wish Town. About 27,000 buyers are agitating against the developer for the delay in giving possession of their promised flats.

    "While five towers will be cleared in Jaypee Aman, two towers each will be given the completion certificate in Cosmos and Klassic projects," the CEO said, adding, "Our teams have completed the inspections of the nine towers. We should be issuing the completions by Monday after which buyers will be able to get the registries done. Builders will also be able to hand over possession."

    Prasad further said the Authority was also trying to revive another five stuck group housing projects by facilitating meetings between realtors and bankers aiming to get bankers to lend money to realtors.

    Banks stopped lending to developers in Noida as they fear non-repayment of loans due to the financial crisis the builders are facing.

    Prasad hoped that if bankers help builders with their financial crisis, many developers will be able to resume construction and finish housing projects to deliver flats to homebuyers.

    Thousands of homebuyers have been suffering due to delayed delivery of flats as builders have failed to finish projects in time citing a fund crunch amid slowdown in the realty sector.

    "We have received a positive response from the bankers regarding these builders. If all works out, at least 2,000 home buyers from these projects will be able to get possession of their homes, soon," he said.

    Meanwhile, Noida Authority will soon finalise a private agency to monitor the progress of ongoing and delayed projects for ending the builder-buyer impasse.









    http://realty.economictimes.indiatim...ssion/59587993

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    • Re : Jaypee Greens Wishtown, Noida

      Jaypee infratech has secured debt against the land bank, given the state of real estate they wont be in position to even serve interest against their debt this is a fact.

      jaypee infratech has enough assets to cover their debt but if banks put it on fire sale they will end up getting only a fraction of their outstanding back and inturn create another mess inform of defaults by customers having home loans... in short its impractical for banks to take the company to liquadation... i guess promoters of JIL know it very well and being shrewd businessmen they know for sure banks will not put up JIL on fire sale.

      Banks have given business loans, what options do they have to maximize their outstandings ?
      Set up effective cost control & revenue leak measures, already started with directors resigning making way for bank appointed team to run the company for next 6 months
      --- Next we should see one or more of the below steps being taken by new team.
      1. Move the land bank and some part of debt to another subsidiary of jaypee which banks can acquire / sell the land. I guess jaypee would not want to pay interest on this part of debt going forward but banks would want their interest to be served at any cost...

      2. Keep only sustainable part of debt with jaypee infratech

      3. Acquire 51% stake in jaypee infratech by converting debt to equity and take over management control

      4. Sell small land parcels 10-300 acres to prospective buyers, in order to generate working capital for initiation of stalled projects in wishtown...
      wishtown projects like orchards, krescent, kube have a lot of customer receivables against customer linked plan
      There is still 10-15% inventories in structure complete projects like kasa, KBA, KPA etc..
      Last edited by bhuwan; July 15 2017, 12:56 AM.

      Comment


      • raabta
        raabta commented
        Editing a comment
        Awesome suggestions. Too bad that no one who is involved in these decision cares about your or anyone else s opinion
        Last edited by raabta; July 15 2017, 12:56 AM.

      • bhuwan
        bhuwan commented
        Editing a comment
        Its just logical way how things will move forward from here...
        If u own a real estate of 2-3 cr and want a buyer today urgently ( fire sale ) u will understand how impractical it is to sell off at distress valuation...

      • raabta
        raabta commented
        Editing a comment
        U seem to have the ability to see the future....

        How did a learned man like u ended up buying in jp?

        Dint u see it coming when your own money was on line?

    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by bhuwan View Post
      Jaypee infratech has secured debt against the land bank, given the state of real estate they wont be in position to even serve interest against their debt this is a fact.

      jaypee infratech has enough assets to cover their debt but if banks put it on fire sale they will end up getting only a fraction of their outstanding back and inturn create another mess inform of defaults by customers having home loans... in short its impractical for banks to take the company to liquadation... i guess promoters of JIL know it very well and being shrewd businessmen they know for sure banks will not put up JIL on fire sale.

      Banks have given business loans, what options do they have to maximize their outstandings ?
      Set up effective cost control & revenue leak measures, already started with directors resigning making way for bank appointed team to run the company for next 6 months
      --- Next we should see one or more of the below steps being taken by new team.
      1. Move the land bank and some part of debt to another subsidiary of jaypee which banks can acquire / sell the land. I guess jaypee would not want to pay interest on this part of debt going forward but banks would want their interest to be served at any cost...

      2. Keep only sustainable part of debt with jaypee infratech

      3. Acquire 51% stake in jaypee infratech by converting debt to equity and take over management control

      4. Sell small land parcels 10-300 acres to prospective buyers, in order to generate working capital for initiation of stalled projects in wishtown...
      wishtown projects like orchards, krescent, kube have a lot of customer receivables against customer linked plan
      There is still 10-15% inventories in structure complete projects like kasa, KBA, KPA etc..
      A week back u were advising someone to buy klassic...

      People who listen to you must be very rich.

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by ashishew View Post

        A week back u were advising someone to buy klassic...

        People who listen to you must be very rich.
        Just today 2 towers of klassic got OC...including the RTM tower we were discussing 2 months back ( not last week ) on klassic thread ....
        and for people buying at INR 3000 - 4000 per sq ft all inclusive ... its still value for money if its RTM
        Last edited by bhuwan; July 15 2017, 03:33 AM.

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          Any idea if any new tower in Kalypso has got OC

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Tower 5 is expected anytime. 1, 2, 3, 4, 14, 15, 16 already received

            There is 400 plus labour in Kalypso 1-10 cluster currently - Tower 6, 9, 10 is expected by September and probably 7, 8, 11,12 - about mid next year if they keep this pace.

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by bhuwan View Post

              Just today 2 towers of klassic got OC...including the RTM tower we were discussing 2 months back ( not last week ) on klassic thread ....
              and for people buying at INR 3000 - 4000 per sq ft all inclusive ... its still value for money if its RTM
              Oc was pending since 2015.
              even jp employees and management were unsure of the date.

              What are u trying to pull here? That u know jp properties or u have insider info or u have superior intellect to guide ppl?

              And note that oc would be granted on monday. It has not been received yet.

              Comment


              • ashishew
                ashishew commented
                Editing a comment
                Good advise..try following it youself

              • bhuwan
                bhuwan commented
                Editing a comment
                You r getting it back because u asked for it by quoting an old discussion

              • ashishew
                ashishew commented
                Editing a comment
                U dont know anything about klassic. I live in wishtown. Why are u making me expose you?
                I am not here to interact with brokers

            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by bhuwan View Post

              Just today 2 towers of klassic got OC...including the RTM tower we were discussing 2 months back ( not last week ) on klassic thread ....
              and for people buying at INR 3000 - 4000 per sq ft all inclusive ... its still value for money if its RTM
              Which Tower? Also any input on construction quality of these 2 Towers.

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                No answer from mr know it all future predictor?
                a cat not able to catch mice will scratch the pillar in frustration

                Comment


                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by raabta View Post
                  No answer from mr know it all future predictor?
                  Might be de motivating for JP buyers but he is the real motivational force behind my posting on IREF.
                  Don't let ugly in others kill the beauty in you.

                  Comment

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