Noida Extension Buyers Take on Builders

Home buyers who have invested in Noida Extension Real Estate projects are connecting online through discussion forums, facebook and other websites to vent out frustration against the builder lobby. Almost 100 people have signed up as members of a Facebook group that calls itself, 'Noida Extension Owners and Members Association'. The members include professionals from all walks of life.

NEOMA - Noida Extension Owners And Members Association is Noida extension owners and member association. The purpose and objective of NEOMA is to keep updated to all the Future residents of the Noida /Noida Ext. based on the users feedback. User can make their decision, owners can raise their voice in case of any issues.

------------------------------------------------------------------------
Supreme Court - Noida Extension News

Guyz look at Zee news. Noida extn ko rahat nahi....

नोएडा एक्सटेंशन को नंदीग्राम बनते नहीं देख सकते: SC

*नई दिल्ली। *सुप्रीम कोर्ट ने आज नोएडा एक्सटेंशन जमीन अधिग्रहण मामले में कहा
कि नोएडा एक्सटेंशन को दूसरा नंदीग्राम नहीं बनने दिया जाएगा। कोर्ट ने अपनी
टिप्पणी में कहा कि सरकार को जमीन अधिग्रहण को लेकर अपनी मानसिकता बदलनी होगी।

सुप्रीम कोर्ट ने उत्तर प्रदेश सरकार से पूछा कि खेती की जमीन अधिग्रहण करने से
पहले क्या इस बात की कोशिश की गई कि बंजर जमीन का अधिग्रहण पहले किया जाए। इस
दौरान कोर्ट में सरकार और किसानों के तरफ के पक्ष कोर्ट में मौजूद थे। सुप्रीम
कोर्ट ने इस मामले की जल्द सुनवाई करने से इंकार करते हुए कहा कि इसकी सुनवाई 5
जुलाई को होगी।Guyz look at Zee news. Noida extn ko rahat nahi....

नोएडा एक्सटेंशन को नंदीग्राम बनते नहीं देख सकते: SC

*नई दिल्ली। *सुप्रीम कोर्ट ने आज नोएडा एक्सटेंशन जमीन अधिग्रहण मामले में कहा
कि नोएडा एक्सटेंशन को दूसरा नंदीग्राम नहीं बनने दिया जाएगा। कोर्ट ने अपनी
टिप्पणी में कहा कि सरकार को जमीन अधिग्रहण को लेकर अपनी मानसिकता बदलनी होगी।

सुप्रीम कोर्ट ने उत्तर प्रदेश सरकार से पूछा कि खेती की जमीन अधिग्रहण करने से
पहले क्या इस बात की कोशिश की गई कि बंजर जमीन का अधिग्रहण पहले किया जाए। इस
दौरान कोर्ट में सरकार और किसानों के तरफ के पक्ष कोर्ट में मौजूद थे। सुप्रीम
कोर्ट ने इस मामले की जल्द सुनवाई करने से इंकार करते हुए कहा कि इसकी सुनवाई 5
जुलाई को होगी।Guyz look at Zee news. Noida extn ko rahat nahi....

नोएडा एक्सटेंशन को नंदीग्राम बनते नहीं देख सकते: SC

*नई दिल्ली। *सुप्रीम कोर्ट ने आज नोएडा एक्सटेंशन जमीन अधिग्रहण मामले में कहा
कि नोएडा एक्सटेंशन को दूसरा नंदीग्राम नहीं बनने दिया जाएगा। कोर्ट ने अपनी
टिप्पणी में कहा कि सरकार को जमीन अधिग्रहण को लेकर अपनी मानसिकता बदलनी होगी।

सुप्रीम कोर्ट ने उत्तर प्रदेश सरकार से पूछा कि खेती की जमीन अधिग्रहण करने से
पहले क्या इस बात की कोशिश की गई कि बंजर जमीन का अधिग्रहण पहले किया जाए। इस
दौरान कोर्ट में सरकार और किसानों के तरफ के पक्ष कोर्ट में मौजूद थे। सुप्रीम
कोर्ट ने इस मामले की जल्द सुनवाई करने से इंकार करते हुए कहा कि इसकी सुनवाई 5
जुलाई को होगी।
Read more
Reply
543 Replies
Sort by :Filter by :
  • Originally Posted by saurabh2011
    Pre EMI paid to bank in 2 years will be even more than FD rate earned because at this time HOME LOAN Rates has been appreciated to 12%+ , so as per this atleast 24% amount will be paid as PRE EMI to Bank. Calculations are same even for FD or in case of HOME LOAN. In case of FD we are getting money for future investment but in HOME LOAN we are spending money in terms of PRE EMI to keep that investment but actually profit/loss balance sheet is near about same.



    calculation of FD interest 22% maximum (YDT interest) for 2 year V/S builder project price after 2 year+ 25% price increment .... Just put one example


    Suppose…current cost of any property/flat is 10 lakh and “Mr A” has only 20% amount to pay which is 2 Lakh….due to some issues with location… “Mr A” put money in FD for two years and after two years…..”Mr. A” got FD money 2.24 lakh… But meanwhile flat cost is also increased by 25% and now flat is available 12.5 lakh due to 70% of construction is done…… In that case “Mr A” has to spend 2.26 lakh more to get same flat…

    In same project, “Mr. B” also had 20% amount and paid 2 lakh to builder and got 80% amount (8 lakh) financed from Bank 11% home loan interest for 10 years….…after 2 year… flat price is 12.5 lakh….So “Mr. B” got appreciation of 25% ( 2.5 lakh)


    “Mr. B” pays monthly EMI of Rs. 11K/month and till next 2 years.. .. he paid approx 2.5 lakh to bank via EMI (he paid Rs. 1.6lakh home loan interest and 87K principal amount)

    After two year situation.. Mr B is still in better condition… his principal amount for next 8 years is Rs. 7.13 lakh…..interest paid 1.6 lakh and appreciation of 2.5 lakh..
    CommentQuote
  • I have paid my booking amount.my blilder is not returning full amount and i m going to lost 30,000 apx.
    what should i do.should i go ahead and bear loss. or wait to clear these issues in NE.
    CommentQuote
  • Originally Posted by ragh_ideal
    I have paid my booking amount.my blilder is not returning full amount and i m going to lost 30,000 apx.
    what should i do.should i go ahead and bear loss. or wait to clear these issues in NE.


    You have paid Rs Thirty thousand or Three lac if you pay only 30000 than bear loss if pay 3.0 lac than wait and watch
    CommentQuote
  • Stakes r v high in NE. We can expect a new land acquisition policy in NE.
    Referring to the article published in Times Property last week, the investors who have already invested in any of the projects in Noida / Greater Noida, they can expect property prices getting sky high in next 1-2 yrs time.

    Regarding NE, got a news from the Market that Builders along with Authority may do out of court settlement in case -tive verdict comes from the apex court. Further as a settlement part for Builders, whose projects have lost much interest in last 2 mnths due to ongoing issues, Authority has approved the Metro Link for them so that they can revive the lost charm in the NE area.

    Still I suggest ppl who wanna do fresh investment should wait for 2 more weeks as after 1st wk of July, a clear picture will come out.
    CommentQuote
  • Hi ,

    Everyone is talking about the stay order for NE as a whole. I have one flat in PATEL Neo town.

    It would be helpful if senior members can post the name of the societies for which the construction is already stopped or which are directly affected.
    CommentQuote
  • As of now, Patel NeoTown is safe. Whole of Amrapali Smartcity, Some portion of Mahagun, Supertech are impacted as of now. For better picuture, please read my post on page # 6 of this thread regarding Opinion on SC observation.
    Originally Posted by pranavds
    Hi ,

    Everyone is talking about the stay order for NE as a whole. I have one flat in PATEL Neo town.

    It would be helpful if senior members can post the name of the societies for which the construction is already stopped or which are directly affected.
    CommentQuote
  • Originally Posted by pgarg6868
    You have paid Rs Thirty thousand or Three lac if you pay only 30000 than bear loss if pay 3.0 lac than wait and watch



    sir, i have paid 3lacs.and they are detecting 30,000 appx
    CommentQuote
  • Wait for final decision of SC and even if -ve news... Authority/builder must negotiate out of case.. builder/authority had already spent lots of money and in some of projects....1-2 floors+ have already under construction stage... Instead of giving back land to farmers..builder will sure buy it from farmers...dont go panic.. there is no panic situation now...
    CommentQuote
  • In my opinion, it is very complicated situation as of now. Nothing is certain at the moment putting end user/investor in dilemma. Considering the huge money in stake (Approximately 50000 flats may have been booked), solution is likely to be reached. And everybody is connecting the decision in Shahberi case to whole NE region. Nobody has knowledge about the most important fact i.e. Section under which land was acquired. No body is bothering to inquire about it although it will decide the future of all projects.

    Since there is so much uncertainity, anything can happen and it is really difficult to take a final call. If somebody seeks the refund now n solution is worked out in future then he might end up regretting his decision. On the contrary, if solution is not reached and things are delayed, he will consider himself wise for seeking early refund.

    Well, my advice is if builder is not asking for installment or threatning cancellation, wait for few more weeks.




    Originally Posted by ragh_ideal
    sir, i have paid 3lacs.and they are detecting 30,000 appx
    CommentQuote
  • Originally Posted by fritolay_ps
    calculation of FD interest 22% maximum (YDT interest) for 2 year V/S builder project price after 2 year+ 25% price increment .... Just put one example


    Suppose…current cost of any property/flat is 10 lakh and “Mr A” has only 20% amount to pay which is 2 Lakh….due to some issues with location… “Mr A” put money in FD for two years and after two years…..”Mr. A” got FD money 2.24 lakh… But meanwhile flat cost is also increased by 25% and now flat is available 12.5 lakh due to 70% of construction is done…… In that case “Mr A” has to spend 2.26 lakh more to get same flat…

    In same project, “Mr. B” also had 20% amount and paid 2 lakh to builder and got 80% amount (8 lakh) financed from Bank 11% home loan interest for 10 years….…after 2 year… flat price is 12.5 lakh….So “Mr. B” got appreciation of 25% ( 2.5 lakh)


    “Mr. B” pays monthly EMI of Rs. 11K/month and till next 2 years.. .. he paid approx 2.5 lakh to bank via EMI (he paid Rs. 1.6lakh home loan interest and 87K principal amount)

    After two year situation.. Mr B is still in better condition… his principal amount for next 8 years is Rs. 7.13 lakh…..interest paid 1.6 lakh and appreciation of 2.5 lakh..


    I respect you sir, logical discussions is always my favorite. Just add few more lines

    At this time Home Loan interest rate of 11% is just for new months, soon bank will increae it to 12 to 13% in current PLR. I myself have taken some home loan 8 month before and at this time current ROI has been increased to 12.25%. So in my opinion Total interest paid for 8 Lac will be not less than 1.80 Lac for 2 years.

    After 2 years “Mr. A” will have 2.24 + 1.8 Lac (HOME LOAN INTREST SAVED) + .21 Lac (If only HOME Loan interest simply put for recurring of 2 years) = 4.25 Lac , and as per you he will get flat in 12.5 lakh hence actual reaming principal amount for him will be 8.25 Lac after 2 years. hence "Mr. A" can take HOME LOAN FOR 8 years at 8.25 Lac.

    After 2 years “Mr. B” will have actual principal amount left 7.33 Lac after paying 1.80 Lac interest hence for next 8 years REMAINING HOME LOAN AMOUNT FOR "Mr.B" will be 7.33 Lac.

    So I myself was agree that few extra burden will be there if Flat price increased 25% in 2 years , but in case Flat Price increase less then 25% in 2 years then it will be Loss for “Mr. B”. While investing in NE "Mr. B" also have to face lots of tensions with family for 2 years hence for getting 5%-9% actual benefit in flat in NE its better to book after 2 years. BTY during last 1.25 years in new launches of NE flats are even available at cheaper rates then 1.25 years before (Ajanara La , Mywood...), so in such cases calculations will be entirely different.
    CommentQuote
  • This point is not logical sir… if you delay your home loan so does not mean that you are saving interest and you could add that amount in your saving… Because you again have to take loan for same period (10 years) after 2 year… so you can not consider “virtual money” in calculation..

    Second point… yes..if flat cost is increased by 10% in two years… still Mr. B is much good condition…He has to pay loan for 8 years and not for 10 years..and 10% appreciation (approx 1 lakh adjustment with bank loan interest)
    CommentQuote
  • this is the nightmare for all NE investors...well talking about the whole NE case, as of now only Shahberi is under the scanner but as soon as there is some positive waves to farmers from SC, i won't be surprised if the farmers of other villages also raise their hand whose land are also the part of NE to get some extra benefit out of this..Behti Ganga mein haath dhone ke liye sabhi ready rehte hain...and my worst fear would be that this fire of famers reach to other newly acquired lands of Noida like 7x/expressway...
    so as far as i can see, if the court puts some sort of stay and in favour of farmers then comes the settlement out of the court between farmers & alliance of NA & builders..in which some lump sump amount will be paid to them and of course some flats in theri properties....now the question comes where this extra money/bribe coming from.....and but obvious we know the answer - from our tiny pocket as buyers... we put a lot of concerns and threts to builders that we dont wanna pay or or we are pulling off our flats...but builders will have their grounds that ok we are happy to give you your money back but with x-x%..take it or leave it... so the builder is not losing anything there...he would earn some monwy from you if u take back ur money n then he will sell the same flat with higher rates...so its a win win situation for builder...
    now we talk about the other part of story...as we all know they investors are very active in market looking for new projects to book for..and since NE land is under dispute so any buyer who is looking to book for a new house seeing all this situation, he would rush towards to new sectors of Noida/expressway and the builders taking benefot of this situation might increase the cost/sq ft which would push buers to spend higher money and the person who is looking to invest (mostly NRI's) he would pay the higher rate to them so all in all the projects of these sectors also got appreciation making a negative effect for buyers where as the buyers of NE are already in deep shit....
    so ultimately the loser in either case is the end user/buyer...not any builder/farmer/authority as they all have the benefit our of this...
    builder is happy at the end because when this issue is settled which has to, he would be getting better returns in terms of flats, farmer is happy because he screwed builder/authoirty and he had extra money..authority in any way is under benefit....so everybody is happy with the result except innocent buyers like us ... :( who has to pay extra amount once this issue is settled for the flatr he booked 2 years back or he lose some money when he pulls off the flat and when he goes to book another one in the safe zone, the price is already high by the time....
    so bhai log sufferer is ony the buyer... mind it!!
    CommentQuote
  • Originally Posted by kumar13
    this is the nightmare for all NE investors...well talking about the whole NE case, as of now only Shahberi is under the scanner but as soon as there is some positive waves to farmers from SC, i won't be surprised if the farmers of other villages also raise their hand whose land are also the part of NE to get some extra benefit out of this..Behti Ganga mein haath dhone ke liye sabhi ready rehte hain...and my worst fear would be that this fire of famers reach to other newly acquired lands of Noida like 7x/expressway...
    so as far as i can see, if the court puts some sort of stay and in favour of farmers then comes the settlement out of the court between farmers & alliance of NA & builders..in which some lump sump amount will be paid to them and of course some flats in theri properties....now the question comes where this extra money/bribe coming from.....and but obvious we know the answer - from our tiny pocket as buyers... we put a lot of concerns and threts to builders that we dont wanna pay or or we are pulling off our flats...but builders will have their grounds that ok we are happy to give you your money back but with x-x%..take it or leave it... so the builder is not losing anything there...he would earn some monwy from you if u take back ur money n then he will sell the same flat with higher rates...so its a win win situation for builder...
    now we talk about the other part of story...as we all know they investors are very active in market looking for new projects to book for..and since NE land is under dispute so any buyer who is looking to book for a new house seeing all this situation, he would rush towards to new sectors of Noida/expressway and the builders taking benefot of this situation might increase the cost/sq ft which would push buers to spend higher money and the person who is looking to invest (mostly NRI's) he would pay the higher rate to them so all in all the projects of these sectors also got appreciation making a negative effect for buyers where as the buyers of NE are already in deep shit....
    so ultimately the loser in either case is the end user/buyer...not any builder/farmer/authority as they all have the benefit our of this...
    builder is happy at the end because when this issue is settled which has to, he would be getting better returns in terms of flats, farmer is happy because he screwed builder/authoirty and he had extra money..authority in any way is under benefit....so everybody is happy with the result except innocent buyers like us ... :( who has to pay extra amount once this issue is settled for the flatr he booked 2 years back or he lose some money when he pulls off the flat and when he goes to book another one in the safe zone, the price is already high by the time....
    so bhai log sufferer is ony the buyer... mind it!!



    Sir, It's always end user suffers
    CommentQuote
  • Originally Posted by fritolay_ps
    This point is not logical sir… if you delay your home loan so does not mean that you are saving interest and you could add that amount in your saving… Because you again have to take loan for same period (10 years) after 2 year… so you can not consider “virtual money” in calculation..

    Second point… yes..if flat cost is increased by 10% in two years… still Mr. B is much good condition…He has to pay loan for 8 years and not for 10 years..and 10% appreciation (approx 1 lakh adjustment with bank loan interest)


    There is a difference in starting HOME LOAN now or after 2 Years. because interest saved during 2 years can be adjusted into PRINCIPLE amount of flat which will effectively reduce the PRINCIPLE AMOUNT of loan taken. I have adjusted each & everything in 9% effective extra burden due to 25% flat appreciation. and main difference will be that A will take home loan of 8.25 lakh after 2 years (with less risk & less mental tension in NE) and B had taken home loan of 8.00 Lakh 2 years before than A, rest all has already been adjusted because we only considered interest part.

    Starting a same amount of Loan at this time or after 2 years has no difference as per you but as per me it has difference. For making it more simple think reverse. Lets assume you given your friend 10 Lac and he agrees that we will pay 15,000 PM for 10 years, Now let me know will you prefer to take 15,000 PM from next month or after 24 months, duration will be same & amount paid by your friends will also be same but think and analyze which situation will be more beneficial to you and why (if you make RD of 15,000 PM for 10 years and then after 10 years make FD for next 24 months). Because this is a reverse case hence in this case if you (Bank) prefer to take installment from your friend (Client) from next month then if your friend is smart then he (Client) will always prefer to start installment after 24 months to you (Bank).

    Finance is a sea and at least in this forum we can not calculate everything. I myself has taken 3 home loans in last 6 years and due to making Banking Finence S/w love calculations a lot hence just shared my POV. I knew it very well that most person think that taking HOME LOAN now or after 2-5 years are actually same because we have to pay same amount in any case, even using the same way property dealer also convince clients more for DP price. 6 years before I was also convince with same way for my first NCR property and then I think how its same? however you calculate HOME LOAN for 10 years with 80% Loan amount, but I believe in taking small properties and then taking home loan just for 4-5 years with maximum 40-50% Loan amount.
    CommentQuote
  • As much as all buyers want to belive all will be well eventually, unfortunately, it may not turn out to to be so.

    If SC also quashes acquisitions, and early signs indicate so, basis the vacation benches comments, then the farmers will take the land back. There will be a cooling off period, and then as per the new UP Land Acquisition policy, a new set of builders, or even the same builder will have to start the purchase process afresh.

    In my estimation, the mkt price will settle at the currently prevalent price of farmland on NH24 near Ghaziabad, which is Rs 10,000/- p sq yrd upwards (AFAIK)

    So dont think that farmers will settle out of court with current builder. They are all smart folks now and would want to sell afresh since they can get a higher price then. So why settle for less?

    Existing construction doesnt mean much to the SC or the Central Govt.

    Look at the case of Lavasa, despite existing construction and state govt permissions in place, the enviornment ministry has stopped work, is not helping and the courts are also non-committal till now.

    Must more has already been invested in Lavasa construction and infra then NE. Who's bothered?

    Nitin


    Originally Posted by fritolay_ps
    Wait for final decision of SC and even if -ve news... Authority/builder must negotiate out of case.. builder/authority had already spent lots of money and in some of projects....1-2 floors+ have already under construction stage... Instead of giving back land to farmers..builder will sure buy it from farmers...dont go panic.. there is no panic situation now...
    CommentQuote