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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 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.
    It is buyer on one side and group of crooks on the other.

    Buy only RTM with OC. Never ever trust a builder, authority, government, banks or broker.

    Comment


    • 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.

      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.
      Sir...itna serious kyun, fake taxi bill to aap lagate hi ho, restaurant ke bhi laga dena
      a cat not able to catch mice will scratch the pillar in frustration

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        These insolvency proceedings are nothing to be surprised about. Everyone knew about it and were warned multiple times. But most people were either living in denial or where stooges of Jaypee who had money to make by exploiting the gullible middle class. Some of the stooges even went overboard by copy pasting articles about Mr Manoj Gaur and his so called ethics, struggles, dreams, intentions..etc etc. Now what's going to happen is that first the secured creditors will get their due which are banks. Homeowners, not matter how much media bytes they get or how much they are promised by politicians will still be last in the food chain. Even though my heart goes out to the homeowners, but still legally they can't do much. Wishtown will be completed somehow that's for sure, but when?? That's the big question . And they won't be getting any refunds that's for sure. Because there is no legal precedent for that. If government legally interferes and gives homeowners their due, then it will open a can of worms which no one wants to even dream about. Because 30,000 votes don't matter in the bigger picture. And out of these,30k distressed people, probably only 1000 or so would have voted. They are not vote bank, only tax bank.

        Comment


        • asingla
          asingla commented
          Editing a comment
          Jaypee has much more assets than debt and if that was not the case, Jaypee stock would have crashed long ago. There are smart people sitting in stock market and looking at stock price, they don't see any chance of company insolvency. People can correct me here but if a company is dissolved, the value of stocks is zero. Even by current valuation of stocks, the combined Jaypee group Mcap is more than 13K Crores .. So relax guys, Jaypee is not going anywhere and neither are the flats booked by you. Don't sell your units for dirt cheap price as Jaypee location is still awsum and so is the construction quality etc. All builders are guilty of over estimating the consumption and paying the price for that.. With no new launches since long time now, most oversupply is consumed and there is enough demand at current possession rate... Best time to invest in Jaypee flats/plots if you are getting a distress deal..

      • Re : Jaypee Greens Wishtown, Noida

        Most people here are not very knowledgeable about bankruptcy law. They are only driven by rhetorics and emotions. Till a couple of weeks ago, many were arguing about jaypees future and how they see light at the end of the tunnel. Some were even quoting rise in stock prices. That was really hilarious but one should remember that when u fight with pigs, you get dirty and they enjoy it.

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          Welcome back ;-) .

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Critique people and make fun of them, call them stupid - The very core of democracy.
            a cat not able to catch mice will scratch the pillar in frustration

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by NCRguru View Post
              These insolvency proceedings are nothing to be surprised about. Everyone knew about it and were warned multiple times. But most people were either living in denial or where stooges of Jaypee who had money to make by exploiting the gullible middle class. Some of the stooges even went overboard by copy pasting articles about Mr Manoj Gaur and his so called ethics, struggles, dreams, intentions..etc etc. Now what's going to happen is that first the secured creditors will get their due which are banks. Homeowners, not matter how much media bytes they get or how much they are promised by politicians will still be last in the food chain. Even though my heart goes out to the homeowners, but still legally they can't do much. Wishtown will be completed somehow that's for sure, but when?? That's the big question . And they won't be getting any refunds that's for sure. Because there is no legal precedent for that. If government legally interferes and gives homeowners their due, then it will open a can of worms which no one wants to even dream about. Because 30,000 votes don't matter in the bigger picture. And out of these,30k distressed people, probably only 1000 or so would have voted. They are not vote bank, only tax bank.
              Intelli boy.... there is no precedent for all this, thats why the chaos.
              it had to happen sometime....unfortunately for JP buyers, they would pioneer this. After the dust is settled, things would be better for all future buyers and RE in general.

              We have to be supportive of buyers to make these laws pro consumer.
              Last edited August 23 2017, 01:39 PM.
              a cat not able to catch mice will scratch the pillar in frustration

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                Ignorance is bliss.

                Comment


                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by raabta View Post
                  Critique people and make fun of them, call them stupid - The very core of democracy.
                  My learned friend, please don't take it personally. I am trying to be polite here for very obvious reasons. Nobody called the homebuyers stupid. I called them gullible. Learn the difference.

                  Comment


                  • Re : Jaypee Greens Wishtown, Noida

                    Originally posted by raabta View Post

                    Intelli boy.... there is no precedent for all this, thats why the chaos.
                    it had to happen sometime....unfortunately for JP buyers, they would pioneer this. After the dust is settled, things would be better for all future buyers and RE in general.

                    We have to be supportive of buyers to make these laws pro consumer.
                    I am very surprised that you agree that it had to happen sometime. A few weeks ago, some of you were quoting hike in stock prices of Jaypee shares and claiming that bankruptcy will never happen.
                    I agree with you that when dust settles then things will be better for homebuyers. But the real question is when will the dust settle? And do you think it will stop with Jaypee wishtown. Jaypee wishtown is just the tip of iceberg. Greno West, Gurgaon, greater Noida have more stuck projects and flats than wishtown. And please don't limit yourself to wishtown. When we talk about a precedent, then it defacto applies to all the cases in the country.

                    Speaking of supporting Jaypee homebuyers, keyboard warriors are as useless as comb for a bald person. If you really care, go and join the protestors in Jantar Mantar. I doubt it will help though. Some statements by politicians are highlighted by media and the gullible homebuyers get happy with that. These sympathies won't matter when the vultures come calling.

                    Comment


                    • bhuwan
                      bhuwan commented
                      Editing a comment
                      Even today its resolution stage not liquadation stage
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