I HAVE ZERO KNOWLEDGE PLEASE REPLY WHAT I WILL DO NOW…
I had brought one 3 BHK from UNITECH VISTA PHASE-II Nov’2010 purely end use purpose so that time I chose down payment plan (that time I have zero knowledge) .
That time rate was 4700 psf I got 9% DP Discount + 2% dealer discount …
So I got around DP plan 4300 including EDC IDC….

In that time I have 15 lac cash + one property in delhi that’s cost around 35 lac…
So I booked vista 15lac cash + 55 lac loan with 50k emi…
That time I thought I will get flat after 3 or 3.5 year… (That time I don’t know how real state and unitech works) I thought when I will get flat I will sell out my delhi property ( I have one property around 35 lac ) and settle my loan and feel free…
But nothing is going to happen…
It’s around 1.5 year I paid around 8.5 lac EMI … NO sign of construction going to start… don’t know how much it will take.. My all plans are shatter …
What I will do… I am totally confuse… because no one buy in market 4300 + 8.5 LAC EMI = 4900 (DP plan)
Please help all members what I will do..
Wait for so many years or sell out in loss and buy any other property….
I am losing money every month…
I have done 2 big mistakes UNITECH + DP…..
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  • I would suggest try to hold on till the time your property appreciates to a level where you make some profit..Under-construction properties are risky proposition with any builder nowadays in absence of RE-Regulator.. I am afraid you have to live with it and wait patiently for appreciation to happen for your property...

    Best Wishes..

    Originally Posted by skumar008
    I HAVE ZERO KNOWLEDGE PLEASE REPLY WHAT I WILL DO NOW…
    I had brought one 3 BHK from UNITECH VISTA PHASE-II Nov’2010 purely end use purpose so that time I chose down payment plan (that time I have zero knowledge) .
    That time rate was 4700 psf I got 9% DP Discount + 2% dealer discount …
    So I got around DP plan 4300 including EDC IDC….

    In that time I have 15 lac cash + one property in delhi that’s cost around 35 lac…
    So I booked vista 15lac cash + 55 lac loan with 50k emi…
    That time I thought I will get flat after 3 or 3.5 year… (That time I don’t know how real state and unitech works) I thought when I will get flat I will sell out my delhi property ( I have one property around 35 lac ) and settle my loan and feel free…
    But nothing is going to happen…
    It’s around 1.5 year I paid around 8.5 lac EMI … NO sign of construction going to start… don’t know how much it will take.. My all plans are shatter …
    What I will do… I am totally confuse… because no one buy in market 4300 + 8.5 LAC EMI = 4900 (DP plan)
    Please help all members what I will do..
    Wait for so many years or sell out in loss and buy any other property….
    I am losing money every month…
    I have done 2 big mistakes UNITECH + DP…..
    CommentQuote
  • Let me try and comfort you first. There are more than 10000 people invested in Unitech's property and are sailing in the same boat due to various reasons (not taken possession/constructed but not delivered,not started construction,construction in snail pace,litigation, poor quality than promised) So you are not alone. Chill. Only the difference is the impact is higher in your case since u have booked for end use.
    Pl continue to pay EMI for next 2 yrs if your financial position permits you, as this is Vista is an excellent location and there is a room for a decent capital appreciation in long run.
    Other wise sound all brokers/friends/forums your intentions of selling this unit.
    I am sure u will have a buyer at least for the same price if not loss. As they say" One man's meat is other man's poison" So your poison might look yum meat to other investor. Dont be panic.
    You made two mistakes (Unitech+DP) The only advantage of Investing in Unitech is you will get a good location. Location sells.
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  • I second that thought , Please calm yourself dowwn at the end of the day , If you keep the property , you will get out of it in profit only , just give it some time , Vista will appreciate to 5200-5500- levels pretty soon , So Hold on tight and you will be a happy man , Even if this scenario doesnt happen soon enough , Just Bear the brunt and take it as a lesson for life .........After all its just money , Not your life .....
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  • Originally Posted by amit.bhalla
    I second that thought , Please calm yourself dowwn at the end of the day , If you keep the property , you will get out of it in profit only , just give it some time , Vista will appreciate to 5200-5500- levels pretty soon , So Hold on tight and you will be a happy man , Even if this scenario doesnt happen soon enough , Just Bear the brunt and take it as a lesson for life .........After all its just money , Not your life .....


    Well said bhalla jee!! :D
    Par its easier to preach than to practice. Desi mein kahun to
    "Kehna aasan, okha kar ke vekhana".
    Vista surely will appreciate one day but it will go to 5200-5500 levels pretty soon, doesnt seem likely with the mess unitech is in. If the company doesnt pull up its socks soon enough, I see Vista going to sub 4000 levels than those mentioned by you.

    But yeah, I subscibe to the advise given by you. In such a scenario, its better for Kumarjee to keep paying his EMI instead of trying to book losses. If the EMI is becoming unbearable for him only than he should think about selling it off.
    Unitech has weathered off many-a-storms and will, hopefully, manage to come out of this one as well and on that sweet day,Vista will be an excellent end use preposition.
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  • Rajat jee!!

    Yeh to market ki neeyat hai.. Unitech right now a is a synonym for party for the bears right now and mauka milega to chauka maarne waale to kadam kadam pe milenge.

    Resale rates being officially quoted are around 4700--4800 for vista and 4500 for sunbreeze, although, I have got calls for distress deals at around 4100 for sunbreeze and 4300 for vista. But, right now:-

    1) I am already in the middle of a resale deal. Dont have the money.
    2) Sach poocho to mujhe unitech se dar lag raha hai.:(:(:(
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  • THANKS manu813, average joe, amit.bhalla and st anger
    For quick reply and giving me motivation…
    Any idea when i will expect for possession … I think it will take 5 years more…
    So 4300+2500 (EMI 55000 x 72)=6800
    Can I expect VISTA WILL GO 7500+ AFTER 5 YEARS…..
    CommentQuote
  • Originally Posted by skumar008
    I HAVE ZERO KNOWLEDGE PLEASE REPLY WHAT I WILL DO NOW…
    I had brought one 3 BHK from UNITECH VISTA PHASE-II Nov’2010 purely end use purpose so that time I chose down payment plan (that time I have zero knowledge) .
    That time rate was 4700 psf I got 9% DP Discount + 2% dealer discount …
    So I got around DP plan 4300 including EDC IDC….

    In that time I have 15 lac cash + one property in delhi that’s cost around 35 lac…
    So I booked vista 15lac cash + 55 lac loan with 50k emi…
    That time I thought I will get flat after 3 or 3.5 year… (That time I don’t know how real state and unitech works) I thought when I will get flat I will sell out my delhi property ( I have one property around 35 lac ) and settle my loan and feel free…
    But nothing is going to happen…
    It’s around 1.5 year I paid around 8.5 lac EMI … NO sign of construction going to start… don’t know how much it will take.. My all plans are shatter …
    What I will do… I am totally confuse… because no one buy in market 4300 + 8.5 LAC EMI = 4900 (DP plan)
    Please help all members what I will do..
    Wait for so many years or sell out in loss and buy any other property….
    I am losing money every month…
    I have done 2 big mistakes UNITECH + DP…..


    Unitech's projects launched in 2006 are at least 2 years or so away from possession. Then they have to complete projects launched in 2007, 2008....So, you have to be prepared to pay EMIs for at least next 5-6 years before you can even think about possession as an end user. I'm sorry to say but this is the price that you have to pay for trusting a builder and buying on DP without checking the status of old projects of this builder.

    If you ever reach near break-even point on your investment, then exit without thinking twice but I don't believe that you will find a buyer in near future unless you are ready to sell at loss.
    CommentQuote
  • When you guys think I will reach at break-even-point because every month I am adding 36 rupee psf in my bsp…
    Nov 2010 it 4000 (DP) -- year 1
    NOW April 2012 4000+576=4576 -- year 2
    April 2013 4576+432=5008 -- year 3
    April 2014 5008+432=5440 -- year 4
    April 2015 5440+432=5872 -- year 5
    April 2016 5872+432=6304 -- year 6
    April 2017 6304+432=6736 -- year 7
    April 2018 6736+432=7160 -- year 8



    CommentQuote
  • Originally Posted by skumar008
    When you guys think I will reach at break-even-point because every month I am adding 36 rupee psf in my bsp…
    Nov 2010 it 4000 (DP) -- year 1
    NOW April 2012 4000+576=4576 -- year 2
    April 2013 4576+432=5008 -- year 3
    April 2014 5008+432=5440 -- year 4
    April 2015 5440+432=5872 -- year 5
    April 2016 5872+432=6304 -- year 6
    April 2017 6304+432=6736 -- year 7
    April 2018 6736+432=7160 -- year 8





    Kumarjee!!!


    What is completion date as per builder??What is the delay by builder clause in the BBA?
    Why dont you sue him for damages after the date is over??
    CommentQuote
  • Sell out & book a loss ( looking at the Builder's previous track record on delivery, this looks the best option - u may again get scrw*ed, if Unitech suddenly changes colors & delivers say in the next 36 months, but this scenario is highly unlikely, looking at Unitech's financial position . So, it could be the case of jumping out of the frying pan and into the fire ) . The further the Project gets delayed, harder u would get screw*ed . If everything remains right with Unitech in future, this Project would not be delivered before say 5 years .


    Originally Posted by ThePunjabi
    Unitech's projects launched in 2006 are at least 2 years or so away from possession. Then they have to complete projects launched in 2007, 2008....So, you have to be prepared to pay EMIs for at least next 5-6 years before you can even think about possession as an end user. I'm sorry to say but this is the price that you have to pay for trusting a builder and buying on DP without checking the status of old projects of this builder.

    If you ever reach near break-even point on your investment, then exit without thinking twice but I don't believe that you will find a buyer in near future unless you are ready to sell at loss.
    CommentQuote
  • Originally Posted by skumar008
    When you guys think I will reach at break-even-point because every month I am adding 36 rupee psf in my bsp…
    Nov 2010 it 4000 (DP) -- year 1
    NOW April 2012 4000+576=4576 -- year 2
    April 2013 4576+432=5008 -- year 3
    April 2014 5008+432=5440 -- year 4
    April 2015 5440+432=5872 -- year 5
    April 2016 5872+432=6304 -- year 6
    April 2017 6304+432=6736 -- year 7
    April 2018 6736+432=7160 -- year 8





    Save your hard earned money. Quickly sell the property out for 4K.
    CommentQuote
  • Sharks out to hunt for tunas !
    CommentQuote
  • Originally Posted by skumar008
    When you guys think I will reach at break-even-point because every month I am adding 36 rupee psf in my bsp…
    Nov 2010 it 4000 (DP) -- year 1
    NOW April 2012 4000+576=4576 -- year 2
    April 2013 4576+432=5008 -- year 3
    April 2014 5008+432=5440 -- year 4
    April 2015 5440+432=5872 -- year 5
    April 2016 5872+432=6304 -- year 6
    April 2017 6304+432=6736 -- year 7
    April 2018 6736+432=7160 -- year 8





    There is something major MISSING in this calculation...

    Compounded interest on the Rs 15 Lacs down payment by you +

    the Compounded interest on the EMIs being paid by you...?

    minus... the equity you are gaining (which will be considerably less than the compounded interest you are losing)

    Exiting may be a good option... though difficult to tell!
    CommentQuote
  • This is a genuine pblm many investors are facing but dont want to disclose/discuss..
    Its like keeping eyes closed and thinking all is well... the rate at which property prices going up..is it justified...
    CommentQuote
  • Jab Vista ka ye Hall hai, what will happen to those who bought Crestview,South Park at much Higher Rate.Much Hyped Unitech Residency has seen no progress in last two years,None of these project are going to give possesion before 5 yrs,same is situation with Golf Course Ext projects,the way work is progressing on ground,I get shivering when think of D Eway etc,Those who are investing on high Loan amount are going to face tough time in days to come.There are no buyers in market.Rate quoted may be anything,you get real pic when you go to sell.
    CommentQuote