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- Originally Posted by SurendrathakThanks a lot Dinesh Ji and congratulation for the possession of your home in wishtown , You are right resale is very risky specially for NRI. I have burnt my hand last year while purchasing of unit in garden Isle on resale which was totally wrong decision, Actually there are so much uncertainty that's why I want to get rid of this headache. So You are advising to keep till next two years. I will be visiting site in mid of July than decide Meanwhile I will write mail to them to see their reply.
Please post some pics of the site that you visited and about your final call, it may help other NRI people, who may be under similar situations.CommentQuote0Flag
- Originally Posted by mittalsPlease post some pics of the site that you visited and about your final call, it may help other NRI people, who may be under similar situations.
Hi there - I did post - please refer page - Cheers
- Originally Posted by dineshsaysHi there - I did post - please refer page - Cheers
Thanks, but I am more interested on the final call taken by an NRI. The building photos are updated at JP site as well. More important is photos of outside view, community facilities, park, open space - whether it is 70-80% open/ green or small, especially for Kensington project which we are talking here.CommentQuote0Flag
- Does anyone have idea of construction status at site,CommentQuote0Flag
- Originally Posted by SurendrathakDoes anyone have idea of construction status at site,
I believe you had visited India recently and the Jaypee site, so you can provide your inside views / pics of the state of the site and believe me, whatever last you would have seen and post, the current state is no more than 1-2 bricks here and there.CommentQuote0Flag
- Visited KBA yesterday found work stopped in most towers .work in Some towers is happening but at a very slow pace.No tower is likely to be handed in next 1.5 years.CommentQuote0Flag
- Originally Posted by sunnavVisited KBA yesterday found work stopped in most towers .work in Some towers is happening but at a very slow pace.No tower is likely to be handed in next 1.5 years.
I doubt that they will finish in next 1.5 years by this speed, What is saying of contractor or jaypee project engineer. Do you remember which tower work is going onCommentQuote0Flag
- went on friday at jaypee site .work was only going on 2 towers with very few labours rest of the work was stand still.then had word with crc and the guy told me that in 1st week of jan funds would be allocated and then there can be some increase in speed of work. possession can be expected after 1.5 yr from know but was not confident about it himself.CommentQuote0Flag
- Below is court proceeding of Knight court project association
Please find today's proceedings at NCDRC hereunder for KnightsCourt project at Jaypee WishTown, Noida:
1. NCDRC rejected JP's application of denial of KnightsCourt Complaint.
2. NCDRC put 10,000 Rs penalty on JP for delayed response. They suppose to revert in 30-45 days however took more then 90 days.
3. NCDRC rejected JP's application to remove 12 members from the complaint who has more then 1 flats. However requested KnightsCourt Buyer Association to provide affidavit from those members for personal use accordingly.
4. KnightsCourt rejoinder accepted by NCDRC.
5. NCDRC gave direction to JP to provide final delivery date as JP's lawyer communicated that construction is almost completed. On which NCDRC asked weather JP's has filed the OC for the project or not on which JP response was negative. KCBA out rightly rejected the same and communicated that construction is at standstill and no delivery/possession in near future even in an year or so.
6. NCDRC requested both the parties (JP & KCBA) to meet in between to verify the construction status and if they can come to a amicable solution.
7. Next/Final hearing will be on 19th May 2016.
In a nutshell, great outcome and focusing on the final outcome to get what we asked in our prayer at NCDRC against JP's all wrong-doing.
- Guys I am making a whatsapp group of KBA buyers and planning a legal suite against Jaypee. Please Join Us.CommentQuote0Flag
- Originally Posted by vishal1880Guys I am making a whatsapp group of KBA buyers and planning a legal suite against Jaypee. Please Join Us.
OK so we already have a whatsapp group with 26 buyers planning to go Legal anyone keen to join pls drop a PMCommentQuote1Flag
- I also visited the site and got the following information from discussion with one of the contractor there:
KBA work is with 3 contractors
1. Ahluwalia constructions : They have the maximum towers
2. Comet Constructions : they have around 7-8 towers
3. BL Kashyap or goel constructions (don't remember the exact name): they have only 3 towers
Construction status is as below
The work hasn't been stopped completely, it is at very very slow pace. In total there could be 60- 70 labours workers (my estimate)
Ahulwalia has currently stopped and no labour is deployed due to funds issue.
Comet is working at very slow pace with few labourers due to fund issue.
The third one, BL which has only 3 towers is working at very good pace, most of the labour as stated above is deployed here. The external plaster was going on these towers, (I believe these were KBA 01, 02 and 03), one of the labour said even internal flooring / tiles work have started (can't confirm as didn't see myself)
In overall discussion, the contractor said once the funds start coming we can surely deliver the towers in 1 to 1.5 years and as per them the expected fund would come in Jan - Feb.CommentQuote1Flag
- Hi friends - i am looking to exit from KBA ( given the delays & financial uncertainty of JP group overall ). What is the going rate for a 1320 sqft flat ?
- Hi pls add me to the groupCommentQuote0Flag
- Hi Ramnik;
I am also looking for an exit but the market is currently very gloomy. At face value, the going rate for KBA is 4200 bsp. But buyers are hard to find and you might end up at rates below or around 4000 bsp.
Add to it the confusion of which banks are financing the resale of Jaypee's under construction flats. Not all banks are doing it. Somebody with more knowledge can throw more light into this.