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Latest info on Jaypee Castille GN

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Latest info on Jaypee Castille GN

Last updated: January 28 2015
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  • Latest info on Jaypee Castille GN

    Good Day,

    Require latest feedback/info on Jaypee Castille-2 delivery dates.
    Was told by some, they would be delivered in Mid 2013..Kindly advise if JP will stick to this timeline . Also,if possible, please predict rates expected on its delivery..?

    Thanks and Regards.
  • #2

    #2

    Re : Latest info on Jaypee Castille GN

    possession in castille 2

    i think the possession should happen sometime around Aug, 2013. there is no clarity on expected rate as yet. just to get a sense, i called up a broker and he quoted me the same rate as was offered at launch...so there is no appreciation really for last 1 year or so. this is something that one would look at settling down. for investment, i think this isnt the project. may not give you immediate appreciation. wait for 3-4 years, if there is a genuine buyer...u should get atleast 50-60% higher price as the supply is limited.

    Comment

    • #3

      #3

      Re : Latest info on Jaypee Castille GN

      With regards to the Casiltte in JP Greens GN, -Opposite Alfa Commercial, Pls advise Posession rates (Expected posession around March 2014)

      Comment

      • #4

        #4

        Re : Latest info on Jaypee Castille GN

        With regards to the CASTILLE in JP Greens GN, -Opposite Alfa Commercial, Pls advise Posession rates (Expected posession around March 2014) .

        Comment

        • #5

          #5

          Re : Latest info on Jaypee Castille GN

          Good project...Wrong city

          Appreciation has been poor

          Many projects of Jaypee RTM...still hardly any end users...and no buyers

          Maintenance is Rs.3-4 psf

          Greater noida doesnt have this segment of buyers.

          Comment

          • #6

            #6

            Re : Latest info on Jaypee Castille GN

            Zohaib...
            For unit holders in castlle..plz advise future rates,say 3 yrs fm now.understand there is alfa square coming up in commercial belt..so things may look up in a few years. So Unit holders there should hold on until then? Plz advise.regards.

            Comment

            • #7

              #7

              Re : Latest info on Jaypee Castille GN

              Jaypee Greens Greater Noida doesnt need a Alfa square, etc

              Its a Class project...but unfortunately in the Wrong City.

              There is absolutely No Demand for such properties in Greater Noida

              Greater Noida is a Middle Class Hub..and the way things are going, it will remain so for next 10 years or so.

              There is absolutely No Demand, Market for any Exclusive High End Product.

              Had this project been in Noida, it would have been 15k psf easily....and if in Gurgaon..close to 20k psf...and would be IN DEMAND

              In Greater noida...irrespective of whatever rates Jaypee officially claims...the problem is there is NO DEMAND.

              Without a Buyer or Demand...No Sale is possible.


              If you are End user...then hold on to it...and plan to shift to Greater noida after 5 years...then it will be a fairly decent city.

              If you are Investor...and can hold on...Hold it...and give it on rent...Else Rs.3-4 psf maintenance will drain you,
              Rental will be less..but at least you wont be paying maintenance from your pocket.
              Such projects will have some demand in a M.I.G City like Greater noida only after 2020.

              If you cant hold on to it till then....and dont want to give on rent...nor end use....Exit...and invest in some Good plot of greater noida or some Good Flat project on Noida expressway.

              Comment

              • #8

                #8

                Re : Latest info on Jaypee Castille GN

                Originally posted by zohaib2012 View Post
                Jaypee Greens Greater Noida doesnt need a Alfa square, etc

                Its a Class project...but unfortunately in the Wrong City.

                There is absolutely No Demand for such properties in Greater Noida

                Greater Noida is a Middle Class Hub..and the way things are going, it will remain so for next 10 years or so.

                There is absolutely No Demand, Market for any Exclusive High End Product.

                Had this project been in Noida, it would have been 15k psf easily....and if in Gurgaon..close to 20k psf...and would be IN DEMAND

                In Greater noida...irrespective of whatever rates Jaypee officially claims...the problem is there is NO DEMAND.

                Without a Buyer or Demand...No Sale is possible.


                If you are End user...then hold on to it...and plan to shift to Greater noida after 5 years...then it will be a fairly decent city.

                If you are Investor...and can hold on...Hold it...and give it on rent...Else Rs.3-4 psf maintenance will drain you,
                Rental will be less..but at least you wont be paying maintenance from your pocket.
                Such projects will have some demand in a M.I.G City like Greater noida only after 2020.

                If you cant hold on to it till then....and dont want to give on rent...nor end use....Exit...and invest in some Good plot of greater noida or some Good Flat project on Noida expressway.
                Many thanks for the valuable feedback.

                Comment

                • #9

                  #9

                  Re : Latest info on Jaypee Castille GN

                  Dear Sirs,
                  Can experts like Zhoaib, any latest information on possesion/status of Jaypee Castille (Opposite Alfa Commercial belt).
                  Getting concerned as possesion was promised in mid 2013... almost a year ago !!
                  Please advise real status and when expected to be delivered... await feedback & thank you !

                  Comment

                  • #10

                    #10

                    Re : Latest info on Jaypee Castille GN

                    look at these calculations to get some clarity

                    Captain Rohit...I also have a flat in this project...project is damn good and one should certainly be happy to have a flat in this. as far as possession is concerned, I think it should come maximum by Diwali, 2014. Current rate is around 9500 to 10,000 psf and it will only go up when possession comes up. Besides, they are likely to pay a penalty, not sure about how much may be around rs. 10 psf for period beyond a certain period of 3 or 6 months.

                    Whether you should stay invested or exit will depend on whether you are an end user or investor? Rent you receive may not be as high, but it should range between 20 to 30 rupees psf. but if you have taken a loan, you can deduct entire amount of interest paid during a year from your taxable income after deducting the net rent received (i.e rent minus maintenance expense). look at following calculations:

                    loan 1 cr
                    approx emi = 1 lakh per month
                    approx int per month = 80,000 per month
                    (A) annual total int paid = 80,000X12=9,60,000
                    rent received rs. 20psf for 2200 sq. feet = 44,000
                    maintenance rs. 3 psf = 6,600
                    net rent = 44,000-6,600= 37,400
                    (B)Annual net rent = 37,400X12=4,48,800
                    Deductible from taxable income (A)-(B)= 9,60,000-4,48,800= 5,11,200
                    If you are in 30% tax bracket you save approx 1.5 lakh per annum of tax

                    more the loan and hence interest paid, better it is for you. e.g. if your loan is 1.5 crore, you will have approx 10 lakh deduction in taxable income meaning around 3 lakh of tax savings for you. in later years interest paid will reduce but your rental income will also improve keeping the investment sustainable.

                    Pls note that above calculations are only indicative. you should do your homework on calculations and latest IT rules.

                    besides, u get the HRA tax benefits, if u are staying in a rented accommodation, making it a double benefit.

                    i am going to stay invested.

                    cheers!!!

                    Comment

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