Wegmans Group is launching commercial project Trustone City in Noida Ext. with 12% assured return. Please advise that is it good for investment??
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  • Wegman's launched this project a while back, atleast more than 5-6 months ago and still not a lot of takers for it. Please remember that the land for this project is right in the middle of all the NE mess, so stay way till it settles.
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  • Originally Posted by naveen.coool

    Wegmans greater noida: very bad investment experience
    Naveen


    Very sad to hear this. hope you will recover your big losses anyhow. Now every NE builder have same excuse for every customer (even of GN) , while they have not started the work in their NE society. More than 70% societies of NE do not started the work then why they are saying openly to all of their customers even not from NE, that they faces losses. How builders face loss with out even starting the work and after collecting more than 60% bookings ???
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  • Originally Posted by naveen.coool
    Hi

    i would like to share my experience of wegmans with you.After few years of investment, the property is not even selling at par price. zero return on investment.Imagine investing money and waiting for a rental for 4 years with false promises. No rental and no resale, price of preoperty has even lowered. i bought 1000 sq feet in their greater noida building. excellent location but zero return after four years. Even gold price is now 3 times more, what a mistake to invest with such a bad company.. They are cheating people, some people are getting 1% return and others not, so they have a different policy for each customer...this is the worst investment i have done and would alert you not to invest with this cheat company. i had a meeting today with their director shagun gupta where he kept on talking about noida extension losses and they expect other investors to pay a price for this !!! i am going very soon to make a forum for people who have invested with them and assure everyone gets returns from them. I had same problem with ansal api mall where i own a shop but the builder agreed to pay a return after long discussions and they have paid.

    Regarding wegmans i am preparing to put articles in newspapers and unite people against them if someone else has also suffered a loss with them. Feel free to write to me if you have had some investment issue with them in noida extension or greater noida or elsewhere. I simply wont allow them to cheat more people like what they have done to me. They have to learn that it is no more possible to cheat customers like this.

    Naveen

    really Sad to hear about you Naveen. Hope you recover as early as possible
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  • Originally Posted by akschoudhary
    really Sad to hear about you Naveen. Hope you recover as early as possible

    Is this habitat centre we are talking about ?
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  • ver sad to hear this,

    i am also having small investment with wegman group, i dont agree with you, Please provide necessary details along , Thanks
    Originally Posted by naveen.coool
    Hi

    i would like to share my experience of wegmans with you.After few years of investment, the property is not even selling at par price. why??.. what do you think the reason is?
    zero return on investment. How come?? I have no issues in encashing their 12% AR checks.
    Imagine investing money and waiting for a rental for 4 years with false promises. Till possession & later, after 1 year of possession they are providing assured returns, what else you want, if you think they will give you lifetime lease guarantee at a 1%, my friend its not feasible, no commercial project can gaurantee you that.
    No rental and no resale, price of preoperty has even lowered.

    Please mention your BSP on which you have purchased the unit, & the current price ongoing??

    i bought 1000 sq feet in their greater noida building. excellent location but zero return after four years. Share the reason please?? Even gold price is now 3 times more, what a mistake to invest with such a bad company.. They are cheating people, some people are getting 1% return You mean rental or AR?? and others not, so they have a different policy for each customer...this is the worst investment i have done and would alert you not to invest with this cheat company. i had a meeting today with their director shagun gupta where he kept on talking about noida extension losses i think land use hasnt been changed in Advan City project (techzone-IV), Residential projects are in trouble.and they expect other investors to pay a price for this !!! i am going very soon to make a forum for people who have invested with them and assure everyone gets returns from them. I had same problem with ansal api mall where i own a shop but the builder agreed to pay a return after long discussions and they have paid. Whts the problem in Ansals??

    Regarding wegmans i am preparing to put articles in newspapers and unite people against them if someone else has also suffered a loss with them. Feel free to write to me if you have had some investment issue with them in noida extension or greater noida or elsewhere. I simply wont allow them to cheat more people like what they have done to me. They have to learn that it is no more possible to cheat customers like this.

    Naveen


    Naveen, please provide the clarification.. thanks!!
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  • FYI..

    --1st SEZ Approved IT-ITES project in Noida Extn. (Easy leasing)

    -- Builder is statisfactory in terms of construction quality & leasing as per past record

    -- Location is good as per price offered. Very near to Noida-Extention Gol Chakkar, in Tech Zone-IV, Very near to HCL India Headquarter's building, 3 side-open Corner Plot.

    -- Min. investment of 10L or 5L in flexi plan with 12% AR till possession, axis bank guaranteed + 12% AR after possession for 1 year. After that rent is on actual basis(no share of bulider in the rent), so far AR checks are encashed smoothly even in the existing NE mess.

    -- 60-40% Black-White adjustment.

    -- 4900Rs/sq.ft (BSP) minus 650Rs/sq.ft (inaugural Disc.) minus around 250Rs/sq.ft (Broker Discount) = 4000Rs/sq.ft,

    -- 75% return till the time leasing starts (3.5 yrs)

    -- 1st transfer free

    -- parking optional for less then 500 sq.ft space

    -- more information -
    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/greater-noida-real-estate/13738-up-government-clears-it-ites-sez-at-greater-noida/page2?t=15996&page=2


    Originally Posted by rajpatel
    Wegmans Group is launching commercial project Trustone City in Noida Ext. with 12% assured return. Please advise that is it good for investment??
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  • -- Land use hasnt been changed, land was aquired, for commercial use, so is it.. a commericial project ( M/s Artha Infratech Pvt. Ltd., Developer has been allotted approx. 25 acres land (herein referred to as Project Land), at Tech Zone IV, Greater Noida by Greater Noida Industrial Development Authority (GNIDA) vide their letter no. IND/IT/2008/15 dated 03/10/2008. )

    -- As far as the urgency clause is concerned, whole Noida comes under this thing.

    -- Even if the their is any delay in the possession due to ongoing land issues in NE, i wont mind it because i can keep encashing AR checks till possession. Then they have 1 year lease gaurantee at 1% after possession.



    As per Me, project is one of the better ones , Having said that, my advice is to wait for the situation till the NE mess settles down.
    Infact, Stay away from whole Noida-Ext.
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  • Wegmans

    Naveen

    I also bought space in Wegmans under construction. I received 12% return on building until it was completed in March 2009. I have received nothing since. I also am getting little information from Shagun Gupta. Please include me in the group seeking answers on our investment
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  • Originally Posted by spohar
    Naveen

    I also bought space in Wegmans under construction. I received 12% return on building until it was completed in March 2009. I have received nothing since. I also am getting little information from Shagun Gupta. Please include me in the group seeking answers on our investment

    Surjeet


    I am planning to start anti-wegmans forum and collect people cheated by him through internet and a newspaper ad.

    Naveen
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  • Originally Posted by trialsurvey
    Is this habitat centre we are talking about ?


    No, its wegmans IT park greater noida where they have a different policy for each customer !
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  • could see lots of activity on the plot today .. any one have any idea whats going on .. are they finally gonna start construction ?
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  • Originally Posted by trialsurvey
    could see lots of activity on the plot today .. any one have any idea whats going on .. are they finally gonna start construction ?


    Hey Man

    you seem to be living in Noida Extension.. :D
    is construction going on at full speed at all projects in Noida Extension?
    please update :)
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  • Originally Posted by cookie
    Hey Man

    you seem to be living in Noida Extension.. :D
    is construction going on at full speed at all projects in Noida Extension?
    please update :)


    not really boss .. only amrapali , stellar and supertech work seems to be goin on at decent pace

    baaki sab slow movement hee laga mereko
    :)
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  • I don't know of any changes with this particular project. Seems like they are still stuck in legal mess.

    Originally Posted by trialsurvey
    could see lots of activity on the plot today .. any one have any idea whats going on .. are they finally gonna start construction ?
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  • earlier wegmans launched office space@5lac rupees...Anyone hav any idea is it still available or any further plan for new schemes?
    Pls share ur views
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