Hi All,

As 3C has officially launched Lotus Zing, Can we discuss pros and cons of this project and location.

Floor plans and site layout is out on 3C's website.

What is your say on location of the project,

I would appreciate if senior members can comment on this.

regards
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  • Really worst scenario for now where nobody is sure if 3C has any plan to start/resume construction works..As per them they have started the process of construction like ordering of equipment,generators and allot the work to contractor and we will see increase in workforce soon..

    But when we visit as site we dont see any progress so tough situation for all buyers of zing..even if go in court we have to forgot our apartment for next 2 years if 3CS not starts the construction now....

    jai mata di...
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  • Originally Posted by rahul21jan81
    Really worst scenario for now where nobody is sure if 3C has any plan to start/resume construction works..As per them they have started the process of construction like ordering of equipment,generators and allot the work to contractor and we will see increase in workforce soon..

    But when we visit as site we dont see any progress so tough situation for all buyers of zing..even if go in court we have to forgot our apartment for next 2 years if 3CS not starts the construction now....

    jai mata di...


    They say so every few months.
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  • Yes I know Amit..From last 2 years I am hearing same..Last time a ray of hope comes in the term of NGT clearance but again it looks like going away from us..Really my worst decision of my life to go with 3CS..Now no option left...
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  • Originally Posted by rahul21jan81
    Yes I know Amit..From last 2 years I am hearing same..Last time a ray of hope comes in the term of NGT clearance but again it looks like going away from us..Really my worst decision of my life to go with 3CS..Now no option left...


    NGT was never an issue.
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  • Originally Posted by amitexpert
    NGT was never an issue.


    Exactly... NGT never asked any Builder to stop work... Delay in OC due to NGT would have been relevant only if Project (or part of it) would have been Fully Ready... But nothing is ready actually...

    Builder is so shameless that it doesn't think twice before issuing a new planned date...

    I am failing to understand the intent behind all this... By spending few Crores more, he'll not only get rest of money but also save itself from being labelled as one of the worst Builders (in coming years under construction Properties of only good Builders will sell i hope)...

    And whatever the reason and/or intent is... The point is that it will not change in few months.... What will happen when the next deadline arrives... and then next... and then next... They'll have to spend the rest of amount, whether they do it today or tomorrow... More they delay, more the cost of finishing will be...

    What is the worst case scenario here?
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  • Originally Posted by CA Rajeev
    Exactly... NGT never asked any Builder to stop work... Delay in OC due to NGT would have been relevant only if Project (or part of it) would have been Fully Ready... But nothing is ready actually...

    Builder is so shameless that it doesn't think twice before issuing a new planned date...

    I am failing to understand the intent behind all this... By spending few Crores more, he'll not only get rest of money but also save itself from being labelled as one of the worst Builders (in coming years under construction Properties of only good Builders will sell i hope)...

    And whatever the reason and/or intent is... The point is that it will not change in few months.... What will happen when the next deadline arrives... and then next... and then next... They'll have to spend the rest of amount, whether they do it today or tomorrow... More they delay, more the cost of finishing will be...

    What is the worst case scenario here?


    Zing was never in 10 Km radius too. So, he can't even take false cover of NGT for Zing at least.
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  • Originally Posted by amitexpert
    Zing was never in 10Km radius too. So, he can't even take false cover of NGT for zing atleast.


    Oh yes... But what do u think about other factors mentioned in my previous post?
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  • Originally Posted by CA Rajeev
    Exactly... NGT never asked any Builder to stop work... Delay in OC due to NGT would have been relevant only if Project (or part of it) would have been Fully Ready... But nothing is ready actually...

    Builder is so shameless that it doesn't think twice before issuing a new planned date...

    I am failing to understand the intent behind all this... By spending few Crores more, he'll not only get rest of money but also save itself from being labelled as one of the worst Builders (in coming years under construction Properties of only good Builders will sell i hope)...

    And whatever the reason and/or intent is... The point is that it will not change in few months.... What will happen when the next deadline arrives... and then next... and then next... They'll have to spend the rest of amount, whether they do it today or tomorrow... More they delay, more the cost of finishing will be...

    What is the worst case scenario here?


    Worst case scenario is really the worst case scenario (builder willingly or unwillingly leaves project midway - the project is taken up by the people with first lien either bank or VC and there is a long struggle between residents and said lien owners to rescue the property - residents probably spend good 40-50% more than anticipated or lose everything - yes NA will also demand its dues) - but equally likely for any builder not 3C only.

    The answer to your question is this - all builders WANT to use the proceeds to buy something else or siphon off money for some personal gain or another plot of land.

    The key key thing here is - if they are putting your money to use - they pay 5 Rs PSF 1-3% but if they borrow money to expand business they pay 18% interest. And land being limited will run out and the builder gets less chance to become big (get into the next project and next and so on). And since there are no laws to prevent this effective ponzi scheme, and prices on the rise, shameless builders went in for launch and pre-launch on land they bought from other projects - effectively trapping people in and buying other pieces of land. They were careful - fast initial construction - get good buzz and then go for the kill. No one really factored in the recession in RE and now with nothing selling and money in various tracts of land via the ponzi scheme, builders cash flow has dried up and they have no money to build.

    In one of your points above, you write that builders have to deliver now or next year or year after - I wouldn't be too sure - there is going to be a few projects that will never see the light of day - Mist Avenue, Unnati World etc - will all probably never make it

    3C had a unique issue in that the main two partners split - Lotus 300 has a big issue and other concerns

    Some builders ATS, Bestech etc believed that delivery is important - they were no saints but atleast they delivered well, we can all hate Amrapali and Supertech but they have more often delivered.

    We are all in a delicate situation - make no mistake - buy in RTM and if your builder has delayed beyond expected timelines - put a case in consumer court without fail
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  • Hi everyone

    tommorow we have meeting with Vidhur on zing site at 11:30. please be there to discuss and ask your questions.. This time we have asked him to do meeting on site to verify the real scenario with his false statemnet given in 3cs's AC office room..

    So please come at 11:30 trow on Zing site sec 168...
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  • Nice discussion :)
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  • Hi..new to the this group.

    How do I become a member of whatsapp group
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  • K

    In my opinion, the reason of not delivering is greatly influenced by poor availability of buyers to buy the pending flats with builder which he wants to sell on increased rate if market have been good.

    So now getting possession is only possible on two ways either staying with builder till market improves and builder see it is right time to deliver so that he can sell remaining inventory on premium.

    OR

    Court forces builder to begin work and offer possession else he has to pay huge amount to us.
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  • Issues

    1. Break up of 3C

    2. A lot of inventory still with underwriters....who have pumped in Huge Black Cash in Most of Noida projects.
    For them 3-4 year delay is no problem..

    3. Existing Mess in Noida RE which has Hit 95% of Builders. Only a handful are delivering. 3C is unfortunately not amongst the 5%


    Positives

    1. Location is The Best and inspite of delays...3C still is not amongst the Worst Lot.
    Omaxe Grandwoods is a example...Inspite of HUGE DELAYS....and Pathetic Quality....It turned out to be Fine...due to locational advantages

    2. Size of flats is perfect for MIG buyers and layout is very simple and neat


    I would recommend Buyers to stay invested....as if you sell now....it will be at cheap rates..UNTILL UNLESS YOU WANT TO SHIFT NOW......and whenever this project will be completed...i expect it to be one of the good ones for MIG segment

    If you want to shift NOW...then sell it and buy RTM in Main Noida (Not Noida exprerssway)
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  • kuch to baat hai Zing mein jo zohaib bhai tarif kar rahe hain ..nahin to Zohaib bhai positive baten karen ye ho nahin sakta :-)
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