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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: April 27 2021
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  • Re : Jaypee Greens Wishtown, Noida

    Seriously, this Govt can't do anything right. Tons of flaws in insolvency code so they have to make amendments every few weeks. Just like their GST bill and Demonetization policy.


    And what's this praise about RBI doing its national duty. Bunch of rubbish. Any person with common sense knows that RBI is a puppet of Govt as was evident since the idiotic policy of Demonetization. The Insolvency process is also just a wastage of time. Insolvency code is a big HYPE. It can't resolve crisis in India's banking sector. Insolvency code is good but its 10 years too late. IBC would've given safeguards to Indian banking system had it been 10 years earlier when NPA were less than 5%. Now the NPAs have gone through the roofs and a process reform like IBC cannot address the crisis which has spread to large part of Banking sector. Now you need some kind of super dictatorial Tribunal/committee that will decide the fate of NPAs and defaulters within days and nights. Otherwise you should spend years and years in court battles with defaulter companies, creditors, stake holders etc etc. And even still there won't be any meaningful progress.

    Comment


    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by raabta View Post

      Majority of buyers in JP (or any north India market) are investors.

      Apart from that... registry requires you to pay pending amount (final demand) as well as the registry amount.

      This is significant (should be around 10L+ for most). Banks are not financing anymore.
      They are not necessarily investors. Many of them are end users but have now realized that concept of WT is a total failure as there are little prospects of materialization of whole township. There will be incomplete projects and disputes for many years to come. Hence many end users now want to exit. Hence they are avoiding registry which comes at a very heavy cost. But selling their WT property is very difficult task given the whole negativity around the situation. Also many buyers are simply BROKE. 10L extra registry cost is too much to bear given the fact that many of home buyers are already suffering from burdens of EMIs and huge rental spending due to long delays over last 3-4 years. Now these people are stuck where they can't extract any meaningful returns on their property.

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        RBI has now ended its various programs for Debt restructuring. RBI itself was also responsible for creating huge NPAs. These XYZ Debt restructuring schemes were actually evergreening of bad loans. Of course these Debt restructuring plans were actually policy of Political Govt to protect many defaulters. RBI is now just another institution that has no independence and credibility. Some fool thinks RBI doing patriotic duty to save taxpayer money.

        https://timesofindia.indiatimes.com/...w/62892594.cms

        The situation with India's banking sector is very serious. Only solution is a technocratic Govt super committee that will address these problems on war footing. Some Assets needs to be nationalized. Many needs to be auctioned and privatized. Many defaulters have to be criminally prosecuted. And all this has to be done within weeks and months. Not in years of court battles of our Judicial system which is like a dead tortoise.

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by Bharatiya View Post
          RBI has now ended its various programs for Debt restructuring. RBI itself was also responsible for creating huge NPAs. These XYZ Debt restructuring schemes were actually evergreening of bad loans. Of course these Debt restructuring plans were actually policy of Political Govt to protect many defaulters. RBI is now just another institution that has no independence and credibility. Some fool thinks RBI doing patriotic duty to save taxpayer money.

          https://timesofindia.indiatimes.com/...w/62892594.cms

          The situation with India's banking sector is very serious. Only solution is a technocratic Govt super committee that will address these problems on war footing. Some Assets needs to be nationalized. Many needs to be auctioned and privatized. Many defaulters have to be criminally prosecuted. And all this has to be done within weeks and months. Not in years of court battles of our Judicial system which is like a dead tortoise.

          Agree. This is India's own sub-prime crisis in which banks are fully complicit.

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            This govt is only fit for blaming others but not for fixing anything.

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              We have been socialist too long and have nurtured a politician-industrialist nexus for too long. BJP is trying first time to clean this mess and I have a lot of respect for them to initiate something that has been delayed at least by 30 years. Not many of you have seen the license raj times of congress.

              Its a myth that NPAs were 5% 10 years ago. They have always been very high. Just ask any banking executive. They were just not classified as NPAs.

              Ita a good sign that Anil Ambani has to sell his companies for paying his debt and when Mallayas Goa villa was put on block for sale. I am sure a lot of other banking scams will show up in future.

              A start has been made. it wont be perfect and it wil need patience. Cancers are not cured in a day. The diagnosis itself shocks people into disbelief. A lot of corrections and adjustments are needed in the treatment. We are just starting on something similar for our economy. We need to have an appreciation for that.

              we shoud go back to the topic of this thread.

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by ahirman View Post
                We have been socialist too long and have nurtured a politician-industrialist nexus for too long. BJP is trying first time to clean this mess and I have a lot of respect for them to initiate something that has been delayed at least by 30 years. Not many of you have seen the license raj times of congress.

                Its a myth that NPAs were 5% 10 years ago. They have always been very high. Just ask any banking executive. They were just not classified as NPAs.

                Ita a good sign that Anil Ambani has to sell his companies for paying his debt and when Mallayas Goa villa was put on block for sale. I am sure a lot of other banking scams will show up in future.

                A start has been made. it wont be perfect and it wil need patience. Cancers are not cured in a day. The diagnosis itself shocks people into disbelief. A lot of corrections and adjustments are needed in the treatment. We are just starting on something similar for our economy. We need to have an appreciation for that.

                we shoud go back to the topic of this thread.
                hello ahirman Bhai,
                Could not agree more with you on this .
                On the JP topic, why JP home buyers are not insisting on refund and buying RTM elsewhere ( at this juncture , this seems to be a better alternative)

                regards

                Comment


                • raabta
                  raabta commented
                  Editing a comment
                  Refund which is being offered is without any interest.

              • Re : Jaypee Greens Wishtown, Noida

                raabta Bhai,
                As Supreme Court is hearing and handling this, so surely buyers will eventually get requisite interest. As the market is down, buyers should at least safeguard their "interest" by buying RTM houses in other sectors.Or maybe, they are once bitten, twice shy!
                Last edited February 20 2018, 10:13 AM.

                Comment


                • raabta
                  raabta commented
                  Editing a comment
                  Unless the interest and money is given, how can you expect people to sell off and buy another one?

              • Re : Jaypee Greens Wishtown, Noida

                Even getting a "finished flat" is complicated in JP.

                A friend got possession of his flat in JP. OC was delayed, registry was delayed....the list goes on.

                The final finishing is still not finished after 6 months.

                The JP employees/engineers on site are corrupt, they are accepting shoddy and lackluster work done by contractors and pressurizing the customer to accept the flat.

                Examples :

                The locks are made by "reputed" brand - Garg locks. - All locks can be opened with the same key.
                The bathroom taps faucets are made by "aquasure"!!
                The apartments tiles are of different color...some old some new.
                Aluminum door locks are "not sanctioned"
                Bathroom tiles have wrong slope - water goes everywhere but the exits.
                Wooden flooring.....is so good that you would be surprised if it lasts 6 months.
                .
                .
                The list goes on.....


                This incidence comes from Jaypee Klassic. The tower engineer is making money from contractors by pushing shoddy finishing down customers throats.

                No wonder this company would go bankrupt.





                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
                  Even getting a "finished flat" is complicated in JP.

                  A friend got possession of his flat in JP. OC was delayed, registry was delayed....the list goes on.

                  The final finishing is still not finished after 6 months.

                  The JP employees/engineers on site are corrupt, they are accepting shoddy and lackluster work done by contractors and pressurizing the customer to accept the flat.

                  Examples :

                  The locks are made by "reputed" brand - Garg locks. - All locks can be opened with the same key.
                  The bathroom taps faucets are made by "aquasure"!!
                  The apartments tiles are of different color...some old some new.
                  Aluminum door locks are "not sanctioned"
                  Bathroom tiles have wrong slope - water goes everywhere but the exits.
                  Wooden flooring.....is so good that you would be surprised if it lasts 6 months.
                  .
                  .
                  The list goes on.....


                  This incidence comes from Jaypee Klassic. The tower engineer is making money from contractors by pushing shoddy finishing down customers throats.

                  No wonder this company would go bankrupt.




                  This is absolutely true. Though the possession is being given, but the quality is pathetic.
                  The finishing work being done now is "bhagwaan bharose"

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