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- 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.
- My views on the Jaypee wishtown status as of today: Keep Patience ! Jaypee wishtown will not fail !
I daily cross through Wishtown twice - in the morning as well in the evening and every day/every week I see a lot of things happening in and around wishtown though with a slow pace.
My recent observations of areas in and around are as follows:
- Families have already started living in Klassic, Kosmos & pavillion courts and are on a increasing trend.
- I daily see autos and taxi's approaching now and getting inside /outside the wishtown
- There are about 8-9 plots which are under construction at good pace in KP 1 plots (one family is already residing from last 1 year in G Block), one O block plot is almost complete and at the finishing stage, as per my discussion with the contractor the owner is targeting to complete and shift post 2016 Holi
- IN KP 2, few plots ( only 4-5 ) are under construction,point to be noted is some of these have started construction recently in last 2 months
- Jaypee staff of around 200 - 300 persons works in Nirman Sadan which is now the headquarters of Japyee, in the evening and lunch time the area is almost crowded with hundreds of employees roaming around.
- In the current December 15 month, a lot of towers have been painted from Outside (on both kosmos side and Klyapso court side), the new paint is clearly visible and tower looks new (Imperial Court), if you go across express way.
- Recently few Kalpyso towers have been given possession, I could see few lights in night (in 2 or 3 units) in these towers, looks like the owners are getting their flats furnished (may to be shift)
- Not sure why Jaypee gave possession to Pavillion court towers first which were at the back, due to this the families who are residing and lighting in the night is not visible which makes it look like empty, had these towers in front, one could have figured out the changes happening.
- A lot of exits have been opened on noida expressway, roundabouts are getting maintained/planted for approach to expressway in front of wishtown
- Metro work is quite rapid, constructed metro pillars can be seen below Mahamaya flyover, its a huge positive for the entire noida expressway.
- Yesterday, I saw Mr Jaipraksh gaur ji leaving in his helicopter from his helipad, one of the employees said he comes very often to monitor the wishtown work.
- The work at the projects are extremely slow due to funds issue, but work is not completely stopped, its a extremely slow place. Jan - Feb 16 everyone is saying the funds will come (how true we will have to wait)
- The Noida authority sector Sector 132 is just in front of Jaypee KP 1 plots has Express Trade Towers which host a number of companies, Dominos & ICICI bank boards were visible there.
- New Buildings are under consutruction in this noida authority sector which will be given to ITES/ MNC's
- A lot of office buildings /business parks are ready and under construction in and near Sector 128 (for example Elixir Business park), these offices and floors are now being taken by small companies who originally have offices in Sector 18 and were paying higher rental value there( Ex. one of the companies RMS has recently shifted its base of around 200 employees in one of the business parks in sector 128 (just in front of Kalypso court)
- Mahagun builder has invested and started construction in wish-town (with good pace) of their Manorial project with a lot of advertising (in newspapers as well as hoardings in noida and Delhi as well), The builder must have done its due diligence before investing in (though have heard Mahagun has invested in lieu of payment which was due to them by Jaypee)
- Jaypee Hospital is emerging as the best hospitals of Noida, I myself have visited there, the hospitality experienced was very good, even people from Delhi NCR region and patients from abroad can be seen there due to reduced rates.
- The airport at Jewar is back in discussion, but will remain uncertain due to our politicians, by chance if its gets a go off , the impact will be hugely positive not only for Japyee but for everyone.
- There are about 10 schools in the wishtown line or very very close vincinity (Delhi Public School, Somerville School, Genesis Global school, Mayoor school, Gyanshree, Step by step, Lotus valley, JBM Global School, Jaypee Public School, Shri Ram Milenium School), Amity University & Jaypee Information Technology is also nearby
- Lot of MNCs are around , ADOBE is just in front of Jaypee Klassic (around 500-800 employees could be there), HEWITT, Netambit Infosource, Sify techologies, Infoedge limited, Quadrangle, HCL technologies, others which I could not captured.
- Big Corporates like ACCENTURE, METLFIE, STERIA, GENPACT, TCS, FIDELITY, E-NETSERVE, INDIAMART, KPMJ, ADVANT are all close by (within 1 to 2 Km's away)
- I believe the changes are not visible as wishtown is a huge comprising of sub projects, 4000 flats which Jaypee claimed are ready are (actually equivalent to about 6 ATS Sector 93 society) which host only 736 apartments
- Places for commercials like Oh My God Mall in front of Klassic , Kosmos and Jaypee Mall in front of KBA are already marked for future (though a longer way to go for these to be built in)
Overall, I see a lot of potential in the coming years both for end users and for investments, no doubt its has already been so late, money would have been multiplied 70-80% in FD's by now who have invested in early years. However, the property is always a longer term horizon may be 15-20 years time, everyone must agree on the fact Delhi property prices (before the current downside) rose/multiplied only after 20-25 years. One thing is for sure, the Jaypee wishtown would generate longer term returns.
Its hard to believe that the wishtown can fail if you consider the above points, the only fear which troubles is what happens if Jaypee goes bankrupt due to its debt issue, it has a huge landbank... can it happen? The question is, in such scenario what will happen to wishtown?
The intent of Jaypee looks good by its monetisation of assets but will it succeed still remains a question?CommentQuote5Flag
- Thanks dib12345; !CommentQuote0Flag
- Reply from Jaypee customer care for my unit in KBA 5 , Can we believe that they are going to complete in 2016 end
Greetings from Jaypee Greens,
In reference to your mail herein below, this is to inform you that Brickwork and plaster in progress and the tower is expected to be ready for possession by end of 2016.CommentQuote0Flag
- Surendrathak; Ji !
Brickwork and plaster in progress has been the status since last 2 years now. Don't know how much plastering is required !
Sad state of affairs, but 2016 should be read as Dec, 2017 ( mildly optimistic ! )CommentQuote0Flag
- Surendrathak; ji - KBA18CommentQuote0Flag
- Let us hope & pray that all these apartment blocks will be handed over to the anxious Owners.
It is quite usual that the early occupants will bear the tortures of constructions ongoing in other unfinished towers (not that it will not be acceptable, especially considering the abnormally long delay).CommentQuote0Flag
Last Saturday, took some images of a Ist floor flat in KBA - 01, was surprised to see floor tiles have been laid, kitchen slabs were also laid , marble (or grantie) and railings were also fitted in the stairs in this tower. The labour said the work in going in this tower in the night as well.CommentQuote4Flag
- Kensington boulevard- pressure group
Few weeks back, I went to the jaypee office in noida. It was a sunday, there were large number of protesters from kosmos project and from a particular tower with few media camermen from news channel. I joined the protestors. Soon, the entire management from jaypee was there to answer all their queries. The meeting was held in a meeting room and the group discussed all the issues of their tower. Was suprised to know that they had even employed a person to track the progress. They knew, how much labour was deployed on each day in their tower. The protesters were pressurizing the management to complete their project.
The point, I am trying to make is that jaypee has got very limited funds and all the project's are eyeing for it. If we will not join as a group then other projects will get completed and ours will be left. My take from that meeting was that we need to 1st fight for our project, then for our tower and lastly for our flat. We should not sit mum. Let's create a what's app group for our project so that we get connected and the we can create groups for the towers also. Mine is Kensington Boulevard tower 15. If all of you can start posting the mobile numbers then I will create a group and can start forming the strategy. Let's become active, otherwise we will not get our flat even in next 3 years... thanks vinayCommentQuote0Flag
- Originally Posted by KumarvinayFew weeks back, I went to the jaypee office in noida. It was a sunday, there were large number of protesters from kosmos project and from a particular tower with few media camermen from news channel. I joined the protestors. Soon, the entire management from jaypee was there to answer all their queries. The meeting was held in a meeting room and the group discussed all the issues of their tower. Was suprised to know that they had even employed a person to track the progress. They knew, how much labour was deployed on each day in their tower. The protesters were pressurizing the management to complete their project.
The point, I am trying to make is that jaypee has got very limited funds and all the project's are eyeing for it. If we will not join as a group then other projects will get completed and ours will be left. My take from that meeting was that we need to 1st fight for our project, then for our tower and lastly for our flat. We should not sit mum. Let's create a what's app group for our project so that we get connected and the we can create groups for the towers also. Mine is Kensington Boulevard tower 15. If all of you can start posting the mobile numbers then I will create a group and can start forming the strategy. Let's become active, otherwise we will not get our flat even in next 3 years... thanks vinay
Sir please accept my congratulations for being one of the few JP investors who is willing to recognize the reality of the situation. I wish you the best of luck in your endeavors.CommentQuote1Flag
- pkgandhi;...please accept my congratulations for being a bashing guy of the year for creating panic in all Jaypee forums... The people here are so unaware of the jaypee condition and You have made us all so aware, worried and afraid... Hum darr gaye hai.. Tell us where projects you endorse...we will invest there...Keep it up for creating panic...lage raho... We are proud of you...CommentQuote0Flag
- Vinay sir, good suggestion, I will send you my number in Pvt msg...please add me in the group... I would urge others also to get added to the group... I also believe this is the right time... as jaypee has atleast started focusing on delivery... KBA group has been the most silent one...CommentQuote0Flag