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Jaypee Greens Wishtown, Noida

Last updated: August 17 2020
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  • Victor1965
    started a topic Jaypee Greens Wishtown, Noida

    Jaypee Greens Wishtown, Noida

    What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

    Cheers!
    Last edited July 4 2017, 07:54 AM.

  • rahk2012
    commented on 's reply
    Hi bro .. agree with you .. how is your paras One33 shop doing?

    PS: maine toh noida se gurgaon focus shift kar liya .. aur gurgaon main kaafi achi progress dekhi apne aankhon ke saamne !!!! My investments are bang on ..
    Last edited August 21 2020, 12:56 AM.

  • Grenoite
    replied
    Originally posted by rahk2012 View Post
    Oh my god .. never anticipated this ... Jaypee wishtown .. thumbs down !!!! what a mess !!!

    @dinesh_says : buddy where are you .. nowhere to be seen? what happened .. no updates from your end ..?

    Kya updates hongey bhai, its a flop project, ban bhi gay to bekaar hi rahega....log to rahengey, lekin wohi jinhey sasta maal chahiye, quality crowd nahin aayega

    Is project ke failure ne noida ko bahut nuksaan pahunchaya hai, dlf ne gugaon banaya, to jaypee ne noida bigada

    Leave a comment:


  • MANOJa
    replied
    At Wish Town, registrations can now begin for completed flats

    Sharmila Bhowmick | TNN | Updated: Aug 11, 2020, 08:24 IST

    The letter inviting registration of flats also includes guidelines to be observed as precautions for Covid-19.

    NOIDA: With the Supreme Court reinstating Anuj Jain as the interim resolution professional (IRP) of Jaypee Wish Town project last week, the registration cell has asked buyers to deposit money and get their properties registered. The next date of hearing is on August 31.

    “We have started the registration work. We will get to know how many buyers would come forward to get their flats registered in a week, we are working on it,” IRP Jain said. The registration cell letters ask buyers to carry PAN card, an address proof, and extra photographs of allottees and their family members for social club membership.

    The letter inviting registration of flats also includes guidelines to be observed as precautions for Covid-19. According to the guidelines, only the allottee and co-allottee are to be present for the registration formalities in Sector 128 office.

    All allottees have been also asked to wear face masks and carry their own hand sanitizers, apart from pens for signing documents. All registrations will be carried out as per prior online appointment. “I have received a letter asking me to deposit the registration money. The appointment date has not been sent yet,” GD Khare, a buyer said.

    “The buyers whose apartments are already completed will now get the chance to get their flats registered since the IRP has been reinstated with adequate responsibilities. The fate of the remaining buyers who are waiting for the flats will only be decided in coming hearings at the Supreme Court. The case will be next heard on August 31,” said Raunak Jain, a lawyer representing a section of Jaypee Wish Town buyers.

    After prolonged insolvency proceedings of Wish Town, the National Company Law Tribunal (NCLT) had given the construction rights for the pending flats to state-owned NBCC in March this year, but the company moved NCLAT, the appellate body, against NCLT, claiming their resolution agreement was dishonoured with the addition of extra financial liabilities.

    Last month, a group of buyers had moved the Supreme Court, seeking direction to the National Company Law Appellate Tribunal (NCLAT) to persuade NBCC to immediately start construction in the Wish Town project and complete around 20,000 pending flats at the earliest. On August 6, the court disbanded the interim monitoring committee overseeing the operations of the project and reinstated the IRP.









    https://timesofindia.indiatimes.com/...w/77473058.cms

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  • MANOJa
    replied
    Noida: Jaypee Wish Town buyers left in lurch as construction gets stalled

    This, despite the National Company Law Appellate Tribunal (NCLAT) giving conditional approval to the state-owned NBCC to complete the pending 20,000 Wish Town flats in April.
    NOIDA: Thousands of Jaypee Wish Town homebuyers are at their wits’ end as no construction work has taken place at the project site in the past 5-6 months.

    This, despite the National Company Law Appellate Tribunal (NCLAT) giving conditional approval to the state-owned NBCC to complete the pending 20,000 Wish Town flats in April. A hearing at the Supreme Court is awaited on August 6 and another by NCLAT later this month.

    On its part, NBCC claims it can only start construction at the site after completing the backend work required for the takeover of the project. NBCC had moved the appellate court against NCLT’s March 3 order because of some financial responsibilities transferred to it by the insolvency court that included additional farmers’ compensation and payoff to fixed deposit holders with bankrupt developer Jaypee Infratech Limited (JIL).

    “Not a single brick has been laid at the Wish Town site since the NCLT order in March. This is a matter of concern as it seems deadlines have now been pushed very far,” Jaishree Swaminathan, a buyer, said. NCLT had in March approved NBCC’s resolution plan for Jaypee Wish Town.

    Wish Town homebuyers claim that the interim monitoring committee set up by the NCLAT to supervise the day-today operation of JIL has also become incommunicado. “Buyers are trying to call the interim resolution committee. Some buyers have also been visiting its office, but most of them have not got any satisfactory answer from the officers at the helm,” Swaminathan said.

    AM Gupta, another buyer at Wish Town, added, “We have records showing that the buyers are not being able to reach out to the offices of the interim resolution committee. Construction has come to a standstill but at least buyers should be able to speak to those in office.”

    When contacted, PK Gupta, CMD of NBCC, said, “We will revert.”

    The Wish Town project has been under the supervision of the interim monitoring committee since April 23. The committee members include the NBCC, former interim resolution professional Anuj Jain, and other stakeholders — IIFCL, LIC, and IDBI.











    https://realty.economictimes.indiati...alled/77364240

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  • rahk2012
    replied
    Oh my god .. never anticipated this ... Jaypee wishtown .. thumbs down !!!! what a mess !!!

    @dinesh_says : buddy where are you .. nowhere to be seen? what happened .. no updates from your end ..?
    Last edited August 6 2020, 03:31 AM.

    Leave a comment:


  • MANOJa
    replied
    Ask NBCC to start work on Wish Town project: Buyers to SC

    A group of Wish Town buyers urged the Supreme Court on Wednesday to direct the National Company Law Appellate Tribunal (NCLAT) to persuade state-run NBCC to immediately start construction in the Wish Town project and complete around 20,000 pending flats at the earliest.
    NOIDA: A group of Wish Town buyers urged the Supreme Court on Wednesday to direct the National Company Law Appellate Tribunal (NCLAT) to persuade state-run NBCC to immediately start construction in the Wish Town project and complete around 20,000 pending flats at the earliest.

    The court has issued notices to the NBCC and other stakeholders in the project, seeking their responses.

    The next date of hearing is on August 6.

    According to buyers, there is a complete standstill at the project site. “Buyers are completely frustrated with the non-action by NBCC. Even after the conditional nod by NCLAT, the state-run construction company is yet to start work. Now that the Supreme Court will start hearing the case again, it could take a long time for a decision to arrive. So, we are simply losing time,” said Jaishree Swaminathan, a Wish Town buyer.

    After prolonged insolvency proceedings of Wish Town, the NCLT had given the construction rights for the pending flats to the NBCC, but the company moved the NCLAT, the appellate body, against the NCLT, claiming their resolution agreement was dishonoured with the addition of extra financial liabilities.

    The project has been under the supervision of an interim monitoring committee since April 23.
















    https://realty.economictimes.indiati...to-sc/77275478

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  • MANOJa
    replied
    Noida: 2,000 Wish Town flats ready, buyers not taking keys, claims Jaypee Infratech

    Surprisingly, JIL completed 10,000 flats during the insolvency resolution period from 2017-2019. JIL's day-to-day operation is now supervised by a monitoring company.
    NOIDA: Even as the state-run NBCC is working on the takeover of Jaypee Infratech for the completion of its Wish Town project, the debt-ridden developer claims that some 2,400 flats are ready but the buyers have not been taking possession, citing incomplete interiors.

    The interim management of the realty firm has now issued a notice that all such allottees are liable to pay maintenance charges, post six months of possession offer.

    Of 35,000 Wish Town flats, Jaypee Infratech Limited (JIL) claims to have just 19,000 flats left to be constructed. Surprisingly, JIL completed 10,000 flats during the insolvency resolution period from 2017-2019. JIL's day-to-day operation is now supervised by a monitoring company.

    "It is unfair on our part to push the load of a tower's entire maintenance fees on the families that are staying in their flats, while those who have been offered possession are simply ignoring our request to collect the house keys or complete formalities. We have decided to levy maintenance charges on all of them," a source said.

    Company sources said that Rs 500 crore is due from over 10,000 buyers, which include 2,800 who have been given an offer of possession. The amount, with interest, comes to around Rs 700 crore, they said. The builder's office also claimed that with these 2,800 buyers holding back the final payment portion, they are not being able to give finishing touches.

    Homebuyers said they would not take possession without the interior work. "The buyers claim that the builder has not finished their last bit of work and they will not pick up the keys. The builder says that they will not finish the last bit unless the final amount is settled. A resolution is urgently needed," Jaishree Swaminathan, a buyer at Wish Town, said.












    https://realty.economictimes.indiati...atech/76152202


    Leave a comment:


  • MANOJa
    replied
    SC's order is a step towards clarity: Jaypee Wish Town buyers

    While some buyers have claimed this is a step forward to clarity, others have expressed their dismay over the long wait they have been subjected to once again before a resolution comes about.TNN | November 07, 2019, 07:35 IST

    NOIDA: The Supreme Court’s order has evoked varying responses from homebuyers of Wish Town project.

    While some buyers have claimed this is a step forward to clarity, others have expressed their dismay over the long wait they have been subjected to once again before a resolution comes about.

    “Same participants are being asked to submit bids again and again. Why is it taking so long to decide on the final bidder? We are disappointed with the court’s order, because this takes us once again from where we started” said Krishan Mitroo, a Wish Town buyer.

    In its order on Wednesday, a bench of justices AM Khanwilkar and Dinesh Maheshwari has spelt out that in the first 45 days, the committee of creditors (CoC) will accept revised bids from the two final bidders — NBCC and Suraksha Realty. And in the last phase of the extended period, starting December 21, the court will give a final decision in the case.

    “But what if the final bids of NBCC and Suraksha once again gets rejected? Then is there going to be another bid or then Jaypee finally gets the chance to complete the pending 17,000 apartments through the clause 12A of the Insolvency and Bankruptcy Code? We will now have to wait for three more months to find this out,” Ashish Mohan Gupta, a buyer, said.


    Another section of buyers is jubilant to see Jaiprakash Associates out of the fray. “We have been harping on empowering NBCC to take the project up. The order gives us hope that finally things are moving in the right direction. However, we wonder why another 90 days have been extended. This is only causing further delay,” Pramod Kumar, another buyer, said.

    This is the fourth time the bidding process has been initiated in the Jaypee Wish Town case since 2017. Wish Town currently has 17,756 flats to be constructed. Of these 1,300 flats are unsold. The builder has estimated the value of its unsold flats at Rs 2,700 crore.








    https://realty.economictimes.indiati...uyers/71947739


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  • Truenity
    replied
    Originally posted by Raojee View Post
    Noida: Jaypee Wish Town locals want a structural audit

    Updated: Aug 2, 2018, 06:40 AM IST

    In the aftermath of the fall of eight-year-old Aarav Beniwal into the ventilator shaft, residents of Jaypee Wish Town Klassic are sceptical to use facilities at the society. It seems that the trust in the builder has taken a hit. They are leaving no stone unturned to locate the places within the society which are potential safety hazards.
    The residents claimed that the place where the child fell is not the only place that is ill-maintained within the society. They want the problem areas to be fixed. But, of course, the builder's involvement is also required to make the place safer for children.

    There are several cracks on the walls of the towers, the children's play area is dug out and there are open high-tension power wires.

    The recent instances of building collapses in Delhi-NCR areas after the arrival of monsoon have also affected the psyche of people. The residents frequently complain about the sub-standard construction materials.

    A resident of the Klassic Tower said that they want a structural audit by the government. "We should know the exact position of the society. We will soon write a letter to the Uttar Pradesh Chief Minister and the district magistrate in this regard," the resident said.

    High-tension wires were also spotted 10 meters above the ground. They were seen at the area where children play and residents jog. This place was not more than 10 steps away from the ventilation shaft where the boy fell. Residents had demanded underground wiring two years ago, but the builder has done nothing so far.

    Another resident said that the electric poles, installed by the builder in the park area, are dangerous for children. "Children come to play here and if the wire falls on any of the child or person then who will be responsible for the casualty. The builder should address this as soon as possible," he said. Most of the area of the park is also dug out.
    "I don't think fire sprinklers are operational here. Many of them are locked as well. We need to force the facility management group to do fire drill every month (not evacuation only but to test the whole system is working or not) and we will be a part of it," the resident said.
    RESIDENT WOES
    • Residents claimed that the place where the child fell is not the only space that is ill-maintained within the society. They want the problem areas to be fixed.
    • There are several cracks on the walls of the towers, the children’s play area is dug out and there are open high-tension power wires.
    URL: http://www.dnaindia.com/delhi/report...-audit-2644614
    Has this been done ? How did Jaypee manage to get OC for such an unlivable place ?

    Leave a comment:

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