Hi Friends,

Considering current scenario and land quashing by Allahabad HC, would it be wise to invest in Stellar Jeevan NE?

This project has not been touched at all during these times and no litigation is filed on this one.

I just want opinion of you people on this. I very well understand that putting money in any project NE can be a fatal risk.

My Background: I had a booking in Patel NeoTown which I cancelled (even before first judgment came on 2nd May) and am looking to invest in some other project NE.

I want your candid opinion on this. No ridiculing please :)
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  • I presume this is not your first home.
    I also presume you are flexible on your delivery date.
    I also presume you do not require bank financing in near future for this purchase.

    If all these are correct and you have spare money to invest in RE then you definitely can go for Stellar. In NE, probably they are one of the BEST builder (and probably the costliest).

    Regarding land acquisition issue, No one in NE is immune, Some are already at the middle and some will be dragged into it sooner or later. Some news claim Stellar to be already in soup.... can be rumour as no one has clear idea.

    Land acquisition is a political game and will take atleast until election to settle. So if you are keen on NE, you must go for a strong and capable project.... and Stellar is definitely one of them.

    For brave heart, this could be the right time to buy as you get better treatment as not many buyers are in the market.
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  • Originally Posted by ondabhai
    I presume this is not your first home.
    I also presume you are flexible on your delivery date.
    I also presume you do not require bank financing in near future for this purchase.

    If all these are correct and you have spare money to invest in RE then you definitely can go for Stellar. In NE, probably they are one of the BEST builder (and probably the costliest).

    Regarding land acquisition issue, No one in NE is immune, Some are already at the middle and some will be dragged into it sooner or later. Some news claim Stellar to be already in soup.... can be rumour as no one has clear idea.

    Land acquisition is a political game and will take atleast until election to settle. So if you are keen on NE, you must go for a strong and capable project.... and Stellar is definitely one of them.

    For brave heart, this could be the right time to buy as you get better treatment as not many buyers are in the market.


    Thanks for the very candid and crisp reply.

    Apart from being flexible on delivery date, I don't meet other two criteria.

    Now, if some of you had followed Noida RE over a period, Can someone please make a guess (calculative guess) about the psqft rate 2+ years later on in NE. Assuming current rate of 2200 psqft (all inclusive), what rate could I expect a ready to move flat in say 2013.

    I had purchased land in a city in Aug. 2009 230 psqft and now that is valued 350 psqft, which is 50% return in <2 years.

    I have two choices, either book current rate and take a risk in NE.
    Or increase my investment in land at same location and park my spare capital to meet the increased cost after two years in NE.

    ondabhai, if you were in my , what would you have done?
    If you don't mind being in my for a while :)
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  • Vikas, your story is somewhat similar to mine. I also had booked flat in Earth Towne in July'10 and then got booking cancelled in March'11. After analysing various projects, I found Stellar the best though it is also the costliest and booked my flat in Stellar Jeevan.

    I thought this time everything will be safe. But destiny had some other plans and game of de-notification of land started. I have got my home loan sanction but I am still not sure whether to go ahead or not.

    Gh-a-r-Bhai is correct in saying that fate of all projects in NE will be same sooner or later. I am not sure but land in entire NE region would have been acquired citing the same reason(Emergency Clause and then change in use of land). And it is also certain that encouraged by Allahabd HC decision, farmers who have not moved to court yet will move to HC later and court decision will be same. I am not sure about the outcome of few legal facts such as "Signing of Kararnama", "Acceptance of compensation money", "Advance stage of construction" which may be only difference in different projects of NE.

    Only solution that I think will work is out of court settlement between farmers and authority. As of now, it is quite risky to invest money in any projects of NE unless somebody has plenty of spare money to invest.

    Another point is that if settlement happens between farmers and authority and all projects go ahead as planned, then there should be good appreciation in rates because farmers will agree only if they are given higher compensation. Higher compensation means hike in land rate. So anything can happen in future. But one thing is sure, it is quite risky.


    Originally Posted by vikas.verma
    Hi Friends,

    Considering current scenario and land quashing by Allahabad HC, would it be wise to invest in Stellar Jeevan NE?

    This project has not been touched at all during these times and no litigation is filed on this one.

    I just want opinion of you people on this. I very well understand that putting money in any project NE can be a fatal risk.

    My Background: I had a booking in Patel NeoTown which I cancelled (even before first judgment came on 2nd May) and am looking to invest in some other project NE.

    I want your candid opinion on this. No ridiculing please :)
    CommentQuote
  • Originally Posted by vikas.verma
    Thanks for the very candid and crisp reply.

    Apart from being flexible on delivery date, I don't meet other two criteria.

    Now, if some of you had followed Noida RE over a period, Can someone please make a guess (calculative guess) about the psqft rate 2+ years later on in NE. Assuming current rate of 2200 psqft (all inclusive), what rate could I expect a ready to move flat in say 2013.

    I had purchased land in a city in Aug. 2009 230 psqft and now that is valued 350 psqft, which is 50% return in <2 years.

    I have two choices, either book current rate and take a risk in NE.
    Or increase my investment in land at same location and park my spare capital to meet the increased cost after two years in NE.

    ondabhai, if you were in my , what would you have done?
    If you don't mind being in my for a while :)


    Bank loan approval and actual disbursements are two separate things. If you need money from bank to finance this purchase then better don't go for it. Bank may stop disbursing loan to NE projects at any point of time (needless to say, irrespective of you got approval or not). You can imagine the problem. Many people can pay 20L over 10 years but not many can pay 20L in 2 years time. If you can then go for NE, if not then you might be in trouble when your bank refuse to disburse and your builder send you demand letters.

    If you look forward to live at that apartment in 4/5 years from now... probably you are too optimistic. If you are looking for your own stay in near future and you do not have an alternate place to stay... then NE is not the place for you.

    No one can predict price of any area tomorrow, forget about two years down the lane.

    In general, land gives more return than flat... the catch is, you need someone to look after your land frequently.

    I am not you, neither you are me .. think logically
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  • Originally Posted by ondabhai
    Bank loan approval and actual disbursements are two separate things. If you need money from bank to finance this purchase then better don't go for it. Bank may stop disbursing loan to NE projects at any point of time (needless to say, irrespective of you got approval or not). You can imagine the problem. Many people can pay 20L over 10 years but not many can pay 20L in 2 years time. If you can then go for NE, if not then you might be in trouble when your bank refuse to disburse and your builder send you demand letters.

    If you look forward to live at that apartment in 4/5 years from now... probably you are too optimistic. If you are looking for your own stay in near future and you do not have an alternate place to stay... then NE is not the place for you.

    No one can predict price of any area tomorrow, forget about two years down the lane.

    In general, land gives more return than flat... the catch is, you need someone to look after your land frequently.

    I am not you, neither you are me .. think logically


    Point taken..! Superlike :)

    Thanks a lot.
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  • my query

    sir ji
    i have a similar query .
    i have booked a flat in JNC Builder project "the park" in NE in 2000p/sqft all inclusive.
    only 10% is given.when i go for cancellation they are cutting 20,000rs in 20lacs.
    what should i do?
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  • Originally Posted by vikas.verma
    Hi Friends,

    Considering current scenario and land quashing by Allahabad HC, would it be wise to invest in Stellar Jeevan NE?

    This project has not been touched at all during these times and no litigation is filed on this one.

    I just want opinion of you people on this. I very well understand that putting money in any project NE can be a fatal risk.

    My Background: I had a booking in Patel NeoTown which I cancelled (even before first judgment came on 2nd May) and am looking to invest in some other project NE.

    I want your candid opinion on this. No ridiculing please :)



    Dear Vikas,

    1. I do not see any reason for panic or loss of faith which seems to have arisen recently. Stellar Jeevan project stands on a totally different footing from the Sahberi case. Indeed it is on all fours with our earlier projects in Noida and Greater Noida. Suffice it to say that the whole of Noida and Greater Noida including group housing for civil servants, and the legal profession etc, have been allotted land under the same procedure as has been applied in the case of Stellar Jeevan. The law and procedure followed, is basically what has been followed all over the country.

    2. The land as per Master Plan was earmarked for residential use right from the beginning. Whereas in the Sabheri case the land use was to change from industrial to residential. The Hon’ble High Court had come down heavily on this aspect. Further because land use change was involved, it appears that the urgency clause applied for acquisition, and not disposing off all the farmers’ objections, was held to be inappropriate.

    3.In Sahberi village a very small proportion of farmers, around 40% or so, had accepted compensation and they were agitating, and had approached the Allahabad High Court when the land was allotted. Yet some builders had gone ahead and sold apartments. In contradistinction, that in Stellar Jeevan case the Master Plan land use was residential, and the farmers had accepted compensation.
    CommentQuote
  • Dear Lisa,

    If I guessed right, you seem to be Stellar employee. I also have a booking in Stellar Jeevan. The builder's attitude is really good as of now and Mr. Sethi has also done very right thing to assure customers by publishing a message on Stellar's official website text of which you have used in your post. The pace of construction of the project is also very gud and probably fastest of all the projects.

    But still customers are scared because more farmers are moving to court. Fear will automatically be allayed or escalated the moment Allahabaad HC decides a case where land use was originally residental and farmers had accepted the compensation. Till then, uncertainity and fear will continue to exist.


    Originally Posted by lisa.14masih
    Dear Vikas,

    1. I do not see any reason for panic or loss of faith which seems to have arisen recently. Stellar Jeevan project stands on a totally different footing from the Sahberi case. Indeed it is on all fours with our earlier projects in Noida and Greater Noida. Suffice it to say that the whole of Noida and Greater Noida including group housing for civil servants, and the legal profession etc, have been allotted land under the same procedure as has been applied in the case of Stellar Jeevan. The law and procedure followed, is basically what has been followed all over the country.

    2. The land as per Master Plan was earmarked for residential use right from the beginning. Whereas in the Sabheri case the land use was to change from industrial to residential. The Hon’ble High Court had come down heavily on this aspect. Further because land use change was involved, it appears that the urgency clause applied for acquisition, and not disposing off all the farmers’ objections, was held to be inappropriate.

    3.In Sahberi village a very small proportion of farmers, around 40% or so, had accepted compensation and they were agitating, and had approached the Allahabad High Court when the land was allotted. Yet some builders had gone ahead and sold apartments. In contradistinction, that in Stellar Jeevan case the Master Plan land use was residential, and the farmers had accepted compensation.
    CommentQuote
  • Originally Posted by stpdcomonman
    Dear Lisa,

    If I guessed right, you seem to be Stellar employee. I also have a booking in Stellar Jeevan. The builder's attitude is really good as of now and Mr. Sethi has also done very right thing to assure customers by publishing a message on Stellar's official website text of which you have used in your post. The pace of construction of the project is also very gud and probably fastest of all the projects.

    But still customers are scared because more farmers are moving to court. Fear will automatically be allayed or escalated the moment Allahabaad HC decides a case where land use was originally residental and farmers had accepted the compensation. Till then, uncertainity and fear will continue to exist.


    no need to worry .. Mr Sethi is a reliable guy .. just look at his projects in sec 62 noida and u will know that stellar delivers high quality
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  • seems to be a good buy at around 2650 all incl .. what are your views friends ?
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  • Originally Posted by trialsurvey
    seems to be a good buy at around 2650 all incl .. what are your views friends ?

    its flexi or CLP?
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  • stellar

    hi
    this is my first post on site
    i invested in stellar business park
    after reading ur comments on stellar i feel gud .that i am in good hands.
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  • Stellar is definitely one of the best builder in and around Noida. ...

    However, what happens to your investment is purely your luck. Best of luck ..)
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  • can one go for down payment in this one? as they have already constructed a lot ... and now just waiting for ncrpb approval to go ahead with further construction
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