I was checking out the prices of projects like Kensington Boulevard (bookings closed from jaypee) on sites like
I have seen that the prices (3300-3500/sqft) are less than what Jaypee is charging for newer projects like Krescent, and Garden Isles. As per my understanding, the Kensington is a "more luxury" project than these two, will complete sooner, and has more green/open area etc.,
Still its cheaper than the other two(4000/sqft)

So whats the catch?
Also, this leasehold/freehold stuff, how does it impact resale flats as oppposed to flats directly bought from builder
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  • nice post.. i hope everybody in the forum would like to get an answer to this.

    One reason i could think of is the delay in delivery of jaypee projects as the builder projects that started after Jaypee are almost on the verge of completion and the prices are sky high with these builders even if the builder is not that well known After all you are getting to stay in the house which would reduce the pain of paying the rent (if you are on rent) and only your EMI goes out of your pocket.

    Experts your opinion is most welcome. ANy other points you think why jaypee projects in resale are cheaper today ?

    Disclaimer -- Even jaypee is one among my options along with the others short listed :)
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  • ANSWER:

    DELAYS

    Jaypee is RENOWNED for delays

    Even their most premium project in Greater Noida is a good 2 years behind schedule..!!!!!!!!

    Another factor is ...HUGE PROJECT....

    Too much availability ...in the name of Jaypee

    Their prices will start coming up...when some of it projects will start becoming RTM...
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  • Originally Posted by zohaib2012
    ANSWER:

    DELAYS

    Jaypee is RENOWNED for delays

    Even their most premium project in Greater Noida is a good 2 years behind schedule..!!!!!!!!

    Another factor is ...HUGE PROJECT....

    Too much availability ...in the name of Jaypee

    Their prices will start coming up...when some of it projects will start becoming RTM...


    zohaib bhai wud u say this is the right time to go for wish town projects ? they are still at a much more reasonable rate then some of the other projects on eway
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  • Originally Posted by trialsurvey
    zohaib bhai wud u say this is the right time to go for wish town projects ? they are still at a much more reasonable rate then some of the other projects on eway


    They are steal at these prices .......... Newly launched projects are quoting at 4000 psf. Even Noida Extn. projects new bookings happening at 3300 psf.
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  • Thanks for your inputs

    I want to know about how safe is to buy from broker. Is their any clause of JP which forbids sale?

    Also, what if you have long term capital gains from sale of older property. Can that be adjusted in leasehold?

    This Power of Attorney stuff has me confused.
    From an ownership standpoint, buying from JP directly, or from broker, whats the difference?
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  • Originally Posted by tsk1979
    Thanks for your inputs

    I want to know about how safe is to buy from broker. Is their any clause of JP which forbids sale?

    Also, what if you have long term capital gains from sale of older property. Can that be adjusted in leasehold?

    This Power of Attorney stuff has me confused.
    From an ownership standpoint, buying from JP directly, or from broker, whats the difference?

    There's no difference in buying from a broker or Jaypee..both ways its you only who is getting fooled !!!!

    My advise...please use ur money in buying something which is RTM....don't get fooled by the 'dreams' which are being sold by the Jaypee or brokers.....

    Kya pata Jaypee ke liye kal ho na ho....now that SP is in power in UP!!!!

    And are u aware that there can be many POA's and many literates have been fooled by many illiterates by using this 'god gifted' instrument called POA.....its so easy to cancel old POA and make a new one in this country....and what is the need of POA in buying a Jaypee flat anyway????
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  • JAYPEE:

    Go for Noida project....if you are willing to accept LONG Delays...I expect Jaypee noida to be liveable in pockets in another 5-6 years....

    Full township will have construction for more than 10 years...


    How one accepts this fact..depends from individual to individual

    Going by past records....Jaypee has One of the Best Quality and Maintenance standards in the Industry

    Their Construction is truly SOLID

    In 2010...A friend of mine was closing the deal...and on paper its was written possession time 3 years.....I told him clearly...DONOT EXPECT ANYTHING BEFORE 5-6 Years....and forget about penalty clause...
    If you are Ok with that...close the deal..else donot buy in Jaypee

    He is NRI and was paying in CLP....he was OK...he was planning to use that Penthouse MAYBE after 6-7 years Only....so it suited him...he bought...

    So keep delays in mind with JAYPEE.....
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  • hello Zohaib
    Whats your take on sports city projects . Do you think that the fact that at least once a year almost whole world will converge for F1 and Jaypee might show some good and quick work in sports city projects to attract more buyers for the area . It seems to be too optimistic but your views are welcome
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  • If you can get Jaypee plot in resale at 22-24k psy....its OK

    Flats...I will not recommend anyone buying flats in yamuna expressway

    Even Serviced apparments in Yamuna expressway will have issues...as already there are a number of good budget hotels coming up in Greater Noida main city....serviced apaprtments on noida expressway......

    They will have the capacity to absorb lakhs of visitors
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  • that makes perfect sense Zohaib . Thanks for your advise
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  • Agreed,

    Its all due to delay and too many options in the wishtown.

    Though JP has tried to market all of its project with a different USP. But it may be too much for end user to really differentiate. Even i feel at these rates it makes sense to buy JP on CLP.
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  • I am now thinking of trying to get a resale flat in partially constructed buildings (eg Kosmos).
    For keningston etc., work has just started. It may or may not complete in 3 years!
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  • I spent the whole day yesterday at Jaypee wishtown trying to figure out the answer of cheap resale !! and obviously checking if it is time to get in or not....(if ready it will be best in NOIDA, no doubt...but a BIG "IF" )...

    I was looking for something which will be ready in 1-2 yrs max...and where there are no empty land or scope for future launch/towers around...
    golf facing kalypso courts and imperial courts seem to fit the requirement (about no future projects/towers in close vicinity)..brokers tried to convince me that in yr jaypee has some internal deadlines to start delivering this side of the projects...but I was not convinced... both these projects have 7-10 floors more to go in structure itself...
    So I think I will wait another 6 months and take a call...
    It seems prices won't go anywhere in these 6 months..

    kalypso court golf facing units (in tower - 1 and 2) was being offered at 7000/- resale and 7250/- in fresh.
    Imperial court golf facing being offered at 8000/-
    No negotiations done on above prices.. all offers on 6th to 10th floor flats.

    I believe Imperial court construction team (BL kashyap) is more serious in completing the project..(As I have been seeing most activity there every day for last 2yrs going to office).. I think this will be deliverd first...(probably that's why a higher price)

    So 6 more months of wait n watch and discussion on IREF :bab (59):

    They mentioned that golf course will become operational in 6 months and will be a separate entity..nothing to do with residents of wishtown..Separate membership of ~9Lakhs.. So I guess in future they may even cut some of it and lauch towers there...... But that will probably not happen for another 15yrs...because they have plenty of space to lauch/make towers till then...:)


    Also checked golf facing kallisto town house (row houses) on left of kalypso court.right of jaypee sales office.....they seem to have structures ready.. and going for 11000/- psf.. looked cheap for an individual 2/3 floor house....
    But I saw that they have (future) plans to lauch 50 floor towers just behind them ... so probably will go from livable to non-livable category pretty soon...



    Cheers,
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  • 7000 psf is way out of my budget. With 3500psf (Kosmos etc.,) I can get a flat for 50-60L which is the budget.
    However, certain things are scaring me
    1. Builder reputation - Jaypee Delays are legendary. I do not want to be waiting even after 5 years of investing the money. Just a FD would have gotten me more money
    2. Glut of flats -
    There are so many flats coming up. Noida extension, sector 78, expressway, sector 44, sector 93, sector 94......
    Where will the real residents come from. Its not that 10-15 new MNCs are coming to noida which will get migration. In the end, all this looks to be speculative buying.

    Book flat at pre launch flight, hoping for increase, and then sell it once you get 30% completition or whatever.

    This model is called the bubble model, and all bubbles eventually burst.
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  • Originally Posted by tsk1979
    7000 psf is way out of my budget. With 3500psf (Kosmos etc.,) I can get a flat for 50-60L which is the budget.
    However, certain things are scaring me
    1. Builder reputation - Jaypee Delays are legendary. I do not want to be waiting even after 5 years of investing the money. Just a FD would have gotten me more money
    2. Glut of flats -
    There are so many flats coming up. Noida extension, sector 78, expressway, sector 44, sector 93, sector 94......
    Where will the real residents come from. Its not that 10-15 new MNCs are coming to noida which will get migration. In the end, all this looks to be speculative buying.

    Book flat at pre launch flight, hoping for increase, and then sell it once you get 30% completition or whatever.

    This model is called the bubble model, and all bubbles eventually burst.

    I have a different opinion regarding this so called glut.

    Once the SC judgement comes, with the likely extra compensation to farmers - this entire region will still be mired in litigation over multiple other issues for many many years viz.

    1. Who will bear the extra burden of payment to farmers? Buyers will sue builders over amount, builders will fight the authority etc.

    2. UP sarkar is focusing on industry which will easily take years to appear on-ground.

    In the meantime, weaker builders will go bust and average projects will slow down.

    The few projects that actually get delivered will be pure gold... and fewer still will have good quality.

    Think... how many projects have been delivered in 2009, 2010, 2011, or even 2012. Gaur Grandeur, Omaxe Grandwoods, Mahagun Maestro... what else?

    As for JP Wishtown, forget about living a peaceful life there before 2016... that too if you're lucky :-|


    -v
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