This is a thread for the investors in Park 81, and those who has valuable information of all types about the pproject.

We all know how good/bad BPTP is... so the focus should be on the events related to or impacting Park 81.
Read more
Reply
76 Replies
Sort by :Filter by :
  • Originally Posted by yogesh98712
    hi
    is some thing fishy for park 81 the premium of 2nd floor is as low as 10-12 lac the construction is almost stoped by builder any reason. while VIP floors are ready to move and park 81 is looking like that no hope of possession for next 1.5 years if construction will start today. any revert from bptp is something legally stopping bptp to construct ? or some master road panga........any court case what is going can someone tells

    the banks have stopped financing under construction floors however the loan is still available to the registry case in terms of ALL the floors.
    This is a game which BPTP plays to extract the final bit of transfer charges and the small time investors goes into panic hearing that the bank funding has stopped and they sell to financiers at the dirt cheap rates.

    The construction of the left out floors would commence by the end of OCT and most of the floors would be handed over within one year, so take your pick if you have ready cash with you go buy yourself something its cheap right now out there.

    Rohit
    CommentQuote
  • My friend booked into BPTP Faridabad in 2007 but even after 7 years no possession given till date... work stopped into all the BPTP projects from last 18 months including my friend own BPTP under construction society... he has given total 42 lakhs to BPTP till 2010 but now he is feeling not a single chance to get possession soon... and as all Faridabad brokers saying BPTP going to bankrupt so it looks like possession will not be given even in his LIFE TIME

    Total cost of investment for him during 7 years

    42 Lakhs till 2010 + 18 Lakhs he has paid in bank PRE EMI interest.. so total 60 Lac he has paid...
    he tried to RESALE from last 1 year but maximum he is getting 55 Lac... JUST LOSS LOSS and only LOSS... He also heard that BPTP even started to increase super area & other charges and hence as per them very soon BPTP will take around 8-10 lakhs more for his flat (additional).

    NEWS 24 Property : Delays and complaints against projects of BPTP

    HH7X4OvVGOo
    CommentQuote
  • Originally Posted by yourbuddy
    My friend booked into BPTP Faridabad in 2007 but even after 7 years no possession given till date... work stopped into all the BPTP projects from last 18 months including my friend own BPTP under construction society... he has given total 42 lakhs to BPTP till 2010 but now he is feeling not a single chance to get possession soon... and as all Faridabad brokers saying BPTP going to bankrupt so it looks like possession will not be given even in his LIFE TIME

    Total cost of investment for him during 7 years

    42 Lakhs till 2010 + 18 Lakhs he has paid in bank PRE EMI interest.. so total 60 Lac he has paid...
    he tried to RESALE from last 1 year but maximum he is getting 55 Lac... JUST LOSS LOSS and only LOSS... He also heard that BPTP even started to increase super area & other charges and hence as per them very soon BPTP will take around 8-10 lakhs more for his flat (additional).

    NEWS 24 Property : Delays and complaints against projects of BPTP

    HH7X4OvVGOo

    Park 81 launched in 2010, in which project your friend booked in 2007?
    Please post massage in appropriate thread. The video is 5 months old & already shared/ discussed in FARIDABAD city thread.
    Posting same massage in multiple/ inappropriate thread is nothing but spamming.
    CommentQuote
  • Originally Posted by yourbuddy
    My friend booked into BPTP Faridabad in 2007 but even after 7 years no possession given till date... work stopped into all the BPTP projects from last 18 months including my friend own BPTP under construction society... he has given total 42 lakhs to BPTP till 2010 but now he is feeling not a single chance to get possession soon... and as all Faridabad brokers saying BPTP going to bankrupt so it looks like possession will not be given even in his LIFE TIME

    Total cost of investment for him during 7 years

    42 Lakhs till 2010 + 18 Lakhs he has paid in bank PRE EMI interest.. so total 60 Lac he has paid...
    he tried to RESALE from last 1 year but maximum he is getting 55 Lac... JUST LOSS LOSS and only LOSS... He also heard that BPTP even started to increase super area & other charges and hence as per them very soon BPTP will take around 8-10 lakhs more for his flat (additional).

    NEWS 24 Property : Delays and complaints against projects of BPTP

    HH7X4OvVGOo

    :bab (3)::bab (3):
    scam misinformation trying to manipulate facts should be banned
    CommentQuote
  • Originally Posted by sayan
    Park 81 launched in 2010, in which project your friend booked in 2007?
    Please post massage in appropriate thread. The video is 5 months old & already shared/ discussed in FARIDABAD city thread.
    Posting same massage in multiple/ inappropriate thread is nothing but spamming.


    There is no doubt that facts/rumors are prevailing in market, how true these are only time tells. We can't ignore following points;

    1. Severe losses are facing by several investors across some different projects.

    2. Re-sale of Under construction BPTP projects are almost nil.

    3. People are losing faith.

    4. There is hardly any delivery and fact is few units of project launched in 2007 are still not getting possession.

    5. Why company not understand that by not delivering anything, how they would sell further projects in market.

    6. Only few lucky people are getting possession rest are struggling.

    7. Its become common phenomena that after collecting 90% of project cost stop construction for next 2 years, what is the logic and motive behind this?

    I am smelling everything is not fair and greed is taken over now.
    CommentQuote
  • Originally Posted by ultichakri
    There is no doubt that facts/rumors are prevailing in market, how true these are only time tells. We can't ignore following points;

    1. Severe losses are facing by several investors across some different projects.

    2. Re-sale of Under construction BPTP projects are almost nil.

    3. People are losing faith.

    4. There is hardly any delivery and fact is few units of project launched in 2007 are still not getting possession.

    5. Why company not understand that by not delivering anything, how they would sell further projects in market.

    6. Only few lucky people are getting possession rest are struggling.

    7. Its become common phenomena that after collecting 90% of project cost stop construction for next 2 years, what is the logic and motive behind this?

    I am smelling everything is not fair and greed is taken over now.

    I guess I have answered that about holding the project after 90% - its simple mate - the transfer charges.
    now if the holder of the unit has guts he will survive as in those survived and triumphed in granduera and villas and ..... well that is the way the market works -weak hands crushed
    so once again if someone has ready cash may be its the last chance to buy almost ready property without paying through the nose.

    Unfair world ain't it fellas

    Rohit
    CommentQuote
  • can we some gyan on latest developments in recent months, progress of BPTP other projects where they may have utilized the funds from greater Faridabad project's customers. This will help in understanding if BPTP is winding up or they are just circulating the funds like any other builder.
    CommentQuote
  • Qatar, RMZ to buy BPTP's Gurgaon IT park for Rs 800 crore

    Originally Posted by investor10
    can we some gyan on latest developments in recent months, progress of BPTP other projects where they may have utilized the funds from greater Faridabad project's customers. This will help in understanding if BPTP is winding up or they are just circulating the funds like any other builder.


    This might helpful for you to make assessment.

    Boby Kurian & Anshul Dhamija, TNN | Sep 17, 2014, 06.55AM IST BANGALORE:

    Southern developer RMZ Corp, backed by Qatar Investment Authority (QIA), is close to buying an IT park owned by BPTP for Rs 800 crore, people directly involved with the matter said. The Bangalore-based RMZ is acquiring the 650,000-sq-ft IT park in Phase IV, Gurgaon, built on 4.5 acres and located close to the international airport. The tenant list includes Deloitte and Fidelity, besides offices of BPTP, a developer largely focused on the national capital region (NCR). This is the latest in a series of large office space buyouts by marquee global investors who want to create a portfolio of rent-yielding commercial assets in India. And the deal action is shifting to NCR, which boasts of a large technology workforce, after Bangalore and Pune.

    RMZ corporate vice-chairman Manoj Menda and BPTP chairman and MD Kabul Chawla could not be reached for immediate comments, despite repeated calls and text messages. "We expect more such transactions to happen as private equity funds and developers look at building their asset base before going for a REIT listing," said Rajeev Bairathi, executive director (north) and head Capital Transaction Group, Knight Frank.

    Qatar, RMZ to buy BPTP's Gurgaon IT park for Rs 800 crore - The Times of India
    CommentQuote
  • Originally Posted by ultichakri
    This might helpful for you to make assessment.

    Boby Kurian & Anshul Dhamija, TNN | Sep 17, 2014, 06.55AM IST BANGALORE:

    Southern developer RMZ Corp, backed by Qatar Investment Authority (QIA), is close to buying an IT park owned by BPTP for Rs 800 crore, people directly involved with the matter said. The Bangalore-based RMZ is acquiring the 650,000-sq-ft IT park in Phase IV, Gurgaon, built on 4.5 acres and located close to the international airport. The tenant list includes Deloitte and Fidelity, besides offices of BPTP, a developer largely focused on the national capital region (NCR). This is the latest in a series of large office space buyouts by marquee global investors who want to create a portfolio of rent-yielding commercial assets in India. And the deal action is shifting to NCR, which boasts of a large technology workforce, after Bangalore and Pune.

    RMZ corporate vice-chairman Manoj Menda and BPTP chairman and MD Kabul Chawla could not be reached for immediate comments, despite repeated calls and text messages. "We expect more such transactions to happen as private equity funds and developers look at building their asset base before going for a REIT listing," said Rajeev Bairathi, executive director (north) and head Capital Transaction Group, Knight Frank.

    Qatar, RMZ to buy BPTP's Gurgaon IT park for Rs 800 crore - The Times of India


    Approximately 100-120 Elite floor owners have gathered in BPTP Gurgaon office. Head Customer care & team couldn't able to convince them. Now they are sitting on the main road in front of Crest office/ Udyog Vihar Phase-IV & waiting for police/ Media to come.
    CommentQuote
  • Are these only rumours or some thing is seriously happening....can't dared to imagine the impact of this situation on unregistered plot owners & under construction floors of bptp. Hope things be better soon..

    Sent from my GT-I9082 using Indian Real Estate Forum mobile app
    CommentQuote
  • This is really fascinating to know. None of the brokers are at all whispering about this .
    Shall we not look for any BPTP properties ? Seniors can throw light ..

    Sent from my SM-N900 using Indian Real Estate Forum mobile app
    CommentQuote
  • Originally Posted by BlessU
    Hi
    Greetings

    Some unconfirmed news suggests that bptp is planning to move abroad lock stock and barrel and in that respect they are liquidating their properties.

    Some say properties are being sold as they are likely to loose some case

    Some say funds are being generated to complete pending projects.

    I would think as first and second to be the most likely scenario. Very little chance for the third interpretation, as change of heart towards buyers is unlikely and unexpected, based on past experience


    I love the rumors, it helps the weak hands shake off
    CommentQuote
  • Originally Posted by sayan
    Approximately 100-120 Elite floor owners have gathered in BPTP Gurgaon office. Head Customer care & team couldn't able to convince them. Now they are sitting on the main road in front of Crest office/ Udyog Vihar Phase-IV & waiting for police/ Media to come.


    Well it was expected to happen, also as per my sources that BPTP now committing to restart of construction by December end.  Oops which year......don't  know...... But there is real anger among innocent end users.....further recently they also mortgage some assets. 

    Being such a large group and associated some prominent name and also having huge assets it seems little distant dream to run away overnight without political back. If it happens than this would be a great surprise and question mark to  intelligent service. But everything is possible....so be careful. 
    CommentQuote
  • Originally Posted by ultichakri
    Well it was expected to happen, also as per my sources that BPTP now committing to restart of construction by December end.  Oops which year......don't  know...... But there is real anger among innocent end users.....further recently they also mortgage some assets. 

    Being such a large group and associated some prominent name and also having huge assets it seems little distant dream to run away overnight without political back. If it happens than this would be a great surprise and question mark to  intelligent service. But everything is possible....so be careful. 


    Heard from some unconfirmed sources that total deal value is quite higher than projected, & 600-650 Cr. will go to CPI India I Limited/JP Morgan for payback in lieu of share value. After deduction of Mortgage amt, balance will go to KC.
    Yesterday they confirmed that they are having some issues with Site contractor & that will be resolved in a month & after that they will be sharing block wise completion status for all PEF. Yesterday 100-1200 ppl created a big traffic mess in the service lane of NH8 near BPTP ofc. BPTP CC head confirms that they will be operating from the same office in spite of ofc sell.
    After paying back CPI India I Limited/JP Morgan the company will be 100% owned by the Promoter & hence they can take discussions without any hindrance & get away with few strong legal cases (corporate level) against them. Due to objecttion from the share holders since last 1- 1.5 years they are probably not able to start construction of few projects in GGN & FBD. Also due to objection raised, bank funding of few projects got discontinued.
    CommentQuote
  • Originally Posted by BlessU
    Hi
    Greetings

    Ok then what is your version? Any interpretation would be most revealing.

    My sources are nothing in terms of credibility, except they correctly predicted in 2008, prices of plots and villas at base cost of 20-25000psy, roads, connectivity, metro till 2015.

    Therefore, I trust them as better times are their beyond 2015, which is not long.

    Cheers

    Bless U,

    what will happen to those cases where the flat owners have started living in the societies (without OC) & have deposited money for Registry & the registry is not happening. With un-ethical practices of BPTP such flat owners would also be in trouble although they are living in their flats.
    CommentQuote