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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

    Originally posted by Truenity
    This is not a govt project, so the question of abandoning it doesn't arise. Many mom and pop investors also bought JP Associates shares at 300 and have lost their shirts. Should the government bail them out as well ? The government can't conjure up money out of thin air. It will ultimately have to come from the taxpayers' pockets. The economy will stop functioning if no enterprise is allowed to fail.
    Shares have risks associated with them, and everyone is aware of these risks.

    None of the agreements which buyers signed with JP had a clause that we would take money and give you nothing.

    Equating shares and residential investment is ........
    a cat not able to catch mice will scratch the pillar in frustration

    Comment


    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by Truenity
      This is not a govt project, so the question of abandoning it doesn't arise. Many mom and pop investors also bought JP Associates shares at 300 and have lost their shirts. Should the government bail them out as well ? The government can't conjure up money out of thin air. It will ultimately have to come from the taxpayers' pockets. The economy will stop functioning if no enterprise is allowed to fail.
      Comparing stock investors to home buyers is egregious mistake. Both are completely different things.

      Your logic of Govt inaction is also egregiously mistaken. Govt strategically protects economy to safeguard common interest of citizens and to keep the economy running smooth. Govt can save any enterprise, even nationalize it if the big stakes are involved. Many PSU's are insolvent, yet Govt keeps running them because they are strategically important for country. For eg BSNL, MTNL, GSPC, many Public sector banks etc. Govt spends a lot of money on various subsidies on energy, food, fertilizers, medicines, social security etc etc. Some people say its a wastage of taxpayer money. Its not. Its meant to safeguard interests of people as well as keeping the economy smooth. In 2008 recession, US automobile sector was hit bad. Yet, Govt strategically protected and bailed it out with taxpayer money. Today its functioning smoothly.

      I am not saying that JP Project should be given full creamy bailout by Govt. But some action is needed to safeguard interest of home buyers and strategically protect RE and Infrastructure sector of this country.

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        Hi

        I would like to know if we get any acknowledgement mail once we mail form F to IRP?

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by Truenity
          No one who buys a stock signs an agreement saying that she is prepared for the share price to go to zero.

          Property investment, like all other investment, has risks associated with it and anyone who is not stupid is aware of these risks.
          Investments in Stock Market comes with market risks. Its clearly mentioned in certificates/agreements of Stocks/Bond purchases.

          Where does it mention in Allotment letter of House that delivery is subject to market risk?

          And come on, you know buying a house is not equatable to buying a stock.

          Comment


          • shalumani
            shalumani commented
            Editing a comment
            So, if someone invest in a project by an almost bankrupt builder, or with a builder that is struggling to pay the 10 year land installment, what would you call that? "I knew but I was too greedy" risk?

        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by Bharatiya View Post

          Investments in Stock Market comes with market risks. Its clearly mentioned in certificates/agreements of Stocks/Bond purchases.

          Where does it mention in Allotment letter of House that delivery is subject to market risk?

          And come on, you know buying a house is not equatable to buying a stock.
          Bhartiya Bhai...a person can understand only if he is ready to listen.
          a cat not able to catch mice will scratch the pillar in frustration

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            A lesson for middle class. Don't ever buy u/c property. Don't trust the Govt or any regulator to safeguard your rights. There is no rule of law in this country. RERA has no teeth. Insolvency act is flawed. It has no safeguards for home buyers of RE companies. RERA doesn't cover many projects as states have diluted regulations. Many states haven't even appointed RERA regulator. When builder doesn't deliver your home, you can't do anything. When builder goes to Bankruptcy, Govt will have sympathy with you, but won't do anything.

            People should buy RE only RTM so that no risks are involved.

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by Bharatiya View Post
              A lesson for middle class. Don't ever buy u/c property. Don't trust the Govt or any regulator to safeguard your rights. There is no rule of law in this country. RERA has no teeth. Insolvency act is flawed. It has no safeguards for home buyers of RE companies. RERA doesn't cover many projects as states have diluted regulations. Many states haven't even appointed RERA regulator. When builder doesn't deliver your home, you can't do anything. When builder goes to Bankruptcy, Govt will have sympathy with you, but won't do anything.

              People should buy RE only RTM so that no risks are involved.
              True. Those who know are also saying that all that is happening today in terms of Jaypee insolvency is pre-planned. Govt is fully on board and sab kuch 2019 ko mind mein rakh kar ho raha hai. Some sort of deal...

              Comment


              • shalumani
                shalumani commented
                Editing a comment
                "those who know", or those who know nothing and are just making up conspiracy theories?

                I am now waiting for a WhatsApp message to be circulated describing the conspiracy in detail.

            • Re : Jaypee Greens Wishtown, Noida

              Rise and fall of RE market -

              200X - 2017.

              Gradual pick up and reaching its peak in 2012-2013. Gradual slowdown and finally crashed in 2016-2017. Incomplete towers. Ghost towns. Wasted land banks. Project delayed in some cases to eternity. Bankrupt Builders. Shattered dreams of buyers.

              Comment


              • shalumani
                shalumani commented
                Editing a comment
                Finally something that I agree with you on.

              • flatowner2
                flatowner2 commented
                Editing a comment
                also add poor construction quality, buyers are forced to live in unregistered house illegally since builders defaulted to NA.

            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by Truenity
              This is not a govt project, so the question of abandoning it doesn't arise. Many mom and pop investors also bought JP Associates shares at 300 and have lost their shirts. Should the government bail them out as well ? The government can't conjure up money out of thin air. It will ultimately have to come from the taxpayers' pockets. The economy will stop functioning if no enterprise is allowed to fail.
              I pay big money to government as taxes every year and I will not vote for this government again if they used my (taxpayer's) money to bailout real estate speculators who are stuck in Jaypee projects.

              Yes, everyone who puts money on new launch and under-construction projects is a speculator only because he is speculating that after taking money, builder will deliver what he is promising. When people were booking in JP Wishtown, they already knew that builder's earlier project in Greater Noida was delayed by a long period. Still they were foolish enough to fall for the tall claims of builder and his agents.

              In 2012, I saw people on this forum rushing to book Unitech's new project launch - Anthea floors in Gurgaon. MD of the company was in Tihar jail for 2G scam but that was not enough to dissuade stupid speculators from booking in that project. Now same speculators are looking for relief from courts and government.

              A fool and his money are soon parted.

              If we (taxpayers) bail out speculators in Jaypee projects today, then tomorrow speculators of other builders like Unitech, BPTP, DLF, Emaar MGF, 3C, Parsvnath, Omaxe etc. etc. will be shouting on roads demanding bailouts. All of these builders have projects that were launched 7-12 years back.

              Last edited August 21 2017, 09:36 PM.

              Comment


              • rareal
                rareal commented
                Editing a comment
                Your anger is understandable, but completely misplaced. You are pretending as if you were ignorant of the crony capitalism that is prevalent in the country. This is bound to happen when the vicious cycle breaks.

            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by sachdeva51 View Post

              I pay big money to government as taxes every year and I will not vote for this government again if they used my (taxpayer's) money to bailout real estate speculators who are stuck in Jaypee projects.

              Sir, if you find wastage of taxpayer money so offensive, than you should stop paying taxes right now.

              Your tax money is used to pay 7th commission pay hikes to Babus that don't deserve. Many of them have bankrupted our PSUs. Your tax money is used to provide perks to Politicians and Babus - like free Cars, Air travel, Cuisines, accommodation etc.

              By the way, Politicians have given thousands and thousands of crores of Loan waivers to Farmers. Every year Govt waives 1000s of crore of Agriculture loans when Farmers take to the streets. Just 3 states UP, Punjab and Maharashtra have given 77000 crore (greater than entire JP debt!!) loan waiver for farmers. And you can do nothing about it. Why don't you stop paying tax already?

              Comment

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