What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

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  • Venky, thanks for all the info and analysis. This is really helpful. I visited JP wishtown couple of days back. The current project they are pushing is Keingston at around 2600 psf. What are your views about Keingston.

    Also how would you compare it to 3C.

    They are saying it will take 3 years for the project to be complete (the JP guy kept stressing the fact that its 3 years from when you sign the papers, i later thought if some of the units are sold 1 year from now how will they give me an apartment in 3 years and the other guy in 4 years in the same building :))

    But anyway assuming that it will take 6-7 years for the area to develop and have some rental income, do you think it is a good buy (are we getting compensated for the risk, just from risk-reward balance).
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  • Originally Posted by Venkytalks

    Apart from 3c boulevard/espacia, glory, saphire and JP I have reservations regarding all other so-called expressway projects. 3c boulevard is the best - their door and window quality is exent. Approach roads are exent and direct. But rooms are small.

    Venkat


    Venkat, could you please comment on Logix. From the very same reasoning, it stands out in its good carpet area to super area ration, good location and good reputation in IT sector.

    Please do let us know your thoughts on Logix Blossom County
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  • hi ank,
    i am too waiting to buy a home........there r around 60,000 flats which are going to come up in 3 yrs. in noida.......and the rates r gonna stagnate........so hold on. also, its better to buy thru owner if u know them, or else these agents who hav picked up flats will not let u get any deals.
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  • Sachin, I have discussed Kensington in detail elsewhere.

    Lohan, I have not looked into Logix and other new projects.

    Neeta, I totally agree. Buying a flat in NOIDA for investment or rental yield in todays scenario is silly. Better to wait and buy elsewhere.

    Buying in NOIDA for own use is still sensible - rates going down so much (2500 or so from 3000) also helps!

    I believe the area (ie. NOIDA) will be one of the best places to live in NCR 10 years from now. Better than Gurgaon, where infrastructure is breaking down
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  • Originally Posted by Venkytalks


    Buying in NOIDA for own use is still sensible - rates going down so much (2500 or so from 3000) also helps!



    Thanks Venkat, but where did you find rates going down? I think all the Noida projects have rates in the range of (2800 + 300) or so ...
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  • Thanks Venkat.

    What is your opinion about JayPee. I have no doubt that it wont be delivered in 3 years as they say and am fine with that. But the question is how much delay would you expect 2-3 years or can it be more than that.

    Also what is your sense of political risks, if mayawati goes and someone else comes can that delay the project further.

    As you mentioned the rate of 2500 psf, i also found the same rate for the new projects, so is it good enough discount for 6-7 year time horizon.
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  • Hi lohan. Rate for Kensington 2790 with 10% discount = ~2500. Many builders now even lower.

    Sachin, I think political risk should make for speedier delivery.

    unfortunately JP is lazy and inefficient, like a govt office
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  • Current prices for Kosmos 850 sq ft

    Hi All,

    I am planning to book 850 sq ft flat in Kosmos. As some of you (like Venky) has already booked in Kosmos, can you please enlighten me the prospects of buying in Kosmos.

    The deal I am getting is Rs 2975 per sq ft -7% -11% (for Partial payment plan). + all initial extra charges + Rs 1.5 per sq ft monthly charges for all maintainence chanrges after possession (mandatory) + Rs 15000 per year fo club charges (optional).


    Is it a good deal or Can i get lower price for Kosmos currently. Do we need to pay these monthly charges everywhere???Can i get better discount than this? and Kosmos prospects....

    Please advice quickly if possible as dealer is pressurizing saying that only flats ar available and he can only wait for couple of days.

    Thanks in advance.
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  • Hi Vipul,

    I got less discount than you at 6.6% (was getting 6.75, but went for better service).

    The 850 flat is very small, price comes to ~30L (plus DP discount).

    Go for it if you want quick possession and are worried about delay from other builders, including Kensington. Delay in all other projects seems inevitable.

    That is the only plus point in booking in Kosmos - digging is on.

    But please remember, even Kosmos is still in digging stage only - delay is possible for Kosmos as well. In MY opinion it is unlikely, that is all. I might be wrong.

    Otherwise if you are not scared of 1-2 years delay, for 30L you can get many larger and nicer apartments discussed here in the NOIDA forum. Close to 50 projects

    20 years later, all those flats priced lower today will command higher valuation (>20-30%) because of much larger carpet area and more pleasing design, than Kosmos 850 which is really small.

    Please be careful - there are very high chances of extra-ordinary delay or total abandonment of newer projects in NOIDA, because too many have come up. In that regards, Kosmos is slightly safer.

    I think Kosmos, Panache, Ridge residence, Ajnara 121 and Logix are the safest currently. Of these, Kosmos is probably the lowest priced and is still available (Ajnara, Ridge probably sold out in the smallest size)

    Is that why you planned to book in Kosmos?

    Price of Kosmos 850 = 23 L plus DP discount and extras. Price of Kensington 1050 = 27L plus DP discount and extras. Kensington 1050 is very small, only slightly better than Kosmos 850, going by carpet area.

    Between Kosmos 850 and Kensington 1050, Kosmos is much better value for money, if you can put up with a very small drawing room.

    Hope this helps, Venkat

    Originally Posted by vipulvg
    Hi All,

    I am planning to book 850 sq ft flat in Kosmos. As some of you (like Venky) has already booked in Kosmos, can you please enlighten me the prospects of buying in Kosmos.

    The deal I am getting is Rs 2975 per sq ft -7% -11% (for Partial payment plan). + all initial extra charges + Rs 1.5 per sq ft monthly charges for all maintainence chanrges after possession (mandatory) + Rs 15000 per year fo club charges (optional).


    Is it a good deal or Can i get lower price for Kosmos currently. Do we need to pay these monthly charges everywhere???Can i get better discount than this? and Kosmos prospects....

    Please advice quickly if possible as dealer is pressurizing saying that only flats ar available and he can only wait for couple of days.

    Thanks in advance.
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  • Hi Venky,

    Thanks for the valuable information. I have booked Kosmos 850 now :)

    I went for Kosmos due to many reasons:

    I didn't want to go for small builder projects due to known high risk and keeping other factors in mind, my choices reduced to Kosmos, Kensington and Panache.

    Among these, panache was going to be much towards 36-40 lakhs and was somwwhat going out of my budget. So, my choices further reduced to only two.

    I was seeing various plus points in Kosmos over Kensington :

    1. Kosmos has higher chance of completing the project earlier than Kensington because Kensington will take some time even to start, i think and for Kosmos, may be only digging, but atleast, some work has started in Kosmos. So, delay chances are less.

    2. Second most important is price. Kensington price was coming around 35 lakhs including everything due to that i was not able to take advantage of partial payment plan (11% discount due to my small budget) but having Kosmos 850 at 28 lakhs was making me at ease.

    3. I wanted to take the flat from 1-4 floors only and in Kosmos, i got the flat option at 4th floor in tower 36.

    4. Apart from budget, another reason for going with small flat was easy and good selling options for small flats. I think that smaller flats has more buyers and gives more profits and currently, my plan is to purchase this only from investment point of view.

    Thanks again for the great help, this site provided me in reaching at this decision.

    Can you let me know some yahoo groups etc of Kosmos so that i can be aware of all happenings as I live in US currently.
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  • Digging started it does not mean that project will complete on time. I remember Kosmos was launched 1.5 years back and still digging...

    Why people are so skeptical about Amrapali ? I herad that Amrapali Saffire was launched in March 2009 and I checked status of project on their website and it reached till 4th floor.

    Most of their project launched construction started. Project launched in last one year, I heard that Ajnara 121 is fastest.

    Gardenia Sec 46 has not given even allotment letter yet.

    Fyi : I have booked in PAN Oasis Sec 70.

    Regarding loan,If you are in USA, you can take personnel loan in USA 8.5% per annum for 3 years. I took loan on my existing car in USA 4.49% and took personnel loan 9% for paying home installment instead of going for home loan in India which is very stressful and time consuming.

    And banks are so good that I got loan within 24 hours without visiting the bank. Everything online. (This information is for those who are in USA and don't know about this.)
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  • Originally Posted by chandra2034
    Digging started it does not mean that project will complete on time. I remember Kosmos was launched 1.5 years back and still digging...
    Why people are so skeptical about Amrapali ? I herad that Amrapali Saffire was launched in March 2009 and I checked status of project on their website and it reached till 4th floor.

    Most of their project launched construction started. Project launched in last one year, I heard that Ajnara 121 is fastest.
    Gardenia Sec 46 has not given even allotment letter yet.
    Fyi : I have booked in PAN Oasis Sec 70.

    Regarding loan,If you are in USA, you can take personnel loan in USA 8.5% per annum for 3 years. I took loan on my existing car in USA 4.49% and took personnel loan 9% for paying home installment instead of going for home loan in India which is very stressful and time consuming.
    And banks are so good that I got loan within 24 hours without visiting the bank. Everything online. (This information is for those who are in USA and don't know about this.)

    If you are living in USA then best option is to refinance you home and you can get 4.5% for 15 or 30 year fixed loan.
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  • Yes, Home Equaity Loan is great for those who have own home in USA. I am talking about homeless Indian working in USA for 2-3 years to buy a apartment in good Indian city. Not permanently.
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  • I agree with Chandra that digging started does not mean project will complete. whe I booked my flat with JayPee in 2008 in their Garden court project in Sec-128, I personaly visited the site and they showed me digging going on. Later after one they caned the project and I had to fight with them to get my money back. Now sorry to say that but if people are living in US, how come they find it difficult to manage little extra (Panache for 36+ instead of 28+ in Kosmos). Well I know it is Vipul's personal decision but guys if you show some courage and try to manage funds as Chandra suggested , you can save yourself from these JP like shady projects (Sorry venky!). I booked 1409 sq ft in panache directly with 3C and am very happy. I currently live in Gulf btw.
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  • Hi Vipul. Congrats on your booking. Wish you all the best.

    I agree with your resale observations - very small and very large sell the best.

    http://in.groups.yahoo.com/group/Jaypee_Greens_Kosmos/

    Above is link to Kosmos group

    Originally Posted by vipulvg
    Hi Venky,

    Thanks for the valuable information. I have booked Kosmos 850 now :)

    4. Apart from budget, another reason for going with small flat was easy and good selling options for small flats. I think that smaller flats has more buyers and gives more profits and currently, my plan is to purchase this only from investment point of view.

    Can you let me know some yahoo groups etc of Kosmos so that i can be aware of all happenings as I live in US currently.
    CommentQuote