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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  • Originally Posted by Aviral79
    Hi Mates, did you see the latest JP investor presentation from May. JP has sold 359 acres land from the 1235 acres in Noida. Does anyone know which part has been sold. I know of the BOP sec 129 but that hardly few acres.

    http://www.indianrealestateforum.com/935279-post478.html


    This includes 300 acres to gaursons, how much is BOP ? The figure should add up.

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  • Originally Posted by ashish18
    This includes 300 acres to gaursons, how much is BOP ? The figure should be close enough.

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    No something is amiss - the land sold to GS was from tbe YEW parcel.

    Have they really sold so much land from the WT (i.e. Noida) parcel

    BOP is just single digits AFAIK

    Has there been a massive deal someplace?

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  • Originally Posted by Aviral79
    Hi Mates, did you see the latest JP investor presentation from May. JP has sold 359 acres land from the 1235 acres in Noida. Does anyone know which part has been sold. I know of the BOP sec 129 but that hardly few acres.

    http://www.indianrealestateforum.com/935279-post478.html


    I think you are getting it wrong. Presentation is not mentioning the land sold to outside parties (in fact only 8.59 acres sub lease will qualify for that) ... it mentions that 1232 acres has been leased, i.e thats the land leased from NOIDA or UP govt. where they have done development and out of that there is a land parcel which is 350 acres which is undeveloped (probably GC and other sport facilities and other utilities).
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  • BTW Ruchika did u know LP is also at 2 years of delay?

    Dinesh are your sure of what you write ..LP phase 1 was out in around Dec 2009/jan 2010..see when the thread started on IREF .

    They have offered possession of phase 1 recently ..3.5 years ..does this make a delay of 2 years :)

    Dinesh are your sure of what you write ..LP phase 1 was out in around Dec 2009/jan 2010..see when the thread started on IREF .

    They have offered possession of phase 1 recently ..3.5 years ..does this make a delay of 2 years :)
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  • Originally Posted by dineshsays
    No something is amiss - the land sold to GS was from tbe YEW parcel.

    Have they really sold so much land from the WT (i.e. Noida) parcel

    BOP is just single digits AFAIK

    Has there been a massive deal someplace?

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    Hmm... its not sold but sold/sub-leased. So, my next guess would be that it has been leased to jpsi and jpa for some of the sports complexes, gc or may be even boomrang. Just assuming typical jugglery to have more loans.
    Right now, all 3 are involved in real estate.
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  • Originally Posted by amit234
    BTW Ruchika did u know LP is also at 2 years of delay?


    Dinesh are your sure of what you write ..LP phase 1 was out in around Dec 2009/jan 2010..see when the thread started on IREF .

    They have been offered possesion of phase 1 recently ..3.5 years ..does this make a delay of 2 years :)

    I rarely if ever put in anything I've not researched. I hv explained this in the LP thread. Kindly refer that.

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    I rarely if ever put in anything I've not researched. I hv explained this in the LP thread. Kindly refer that.

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  • Originally Posted by dineshsays
    Dinesh are your sure of what you write ..LP phase 1 was out in around Dec 2009/jan 2010..see when the thread started on IREF .

    They have been offered possesion of phase 1 recently ..3.5 years ..does this make a delay of 2 years :)


    I rarely if ever put in anything I've not researched. I hv explained this in the LP thread. Kindly refer that.

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    :)

    :)
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  • You are falling short by 30 Lac. But you did not account for the fact that you saved 75k
    bank installment or interest of the whole property, had you purchased in 2009 . Add that amount to your wealth .

    In 4 years you saved 36 lac extra which would have gone down the drain in EMIs.
    ;)

    Originally Posted by IPNoida
    hey rg, i am in similar boat and moved to India about an year back. I understand the logic behind what friendly is suggesting and its not about money but what you can really buy due to bank loan restrictions. Since you get max loan of about 40% of your salary so most of the good homes are not affordable now.


    Assume I had 100K when I came back from US 3years back (assumptions)...it was about 42L Indian Rupees. If I was earning about Rs 70-80K per month then I would have got loan of 30-35lakh approx. So my total purchasing capacity was 72-78lakh.

    Fast forward today...most of the properties which were available at 75-80l in 2009 are now at 1.3Cr+. My current salary is Rs1.1lakh per month so can get loan of 45akh + my corpus is only 52-55lakh as we were getting max 10% interest in FD and we pay 30% Tax on interest part (you did not include tax part in your calculation and kept FD interest rate as 12%). So my total purchasing capacity is 1-1.1cr. Now I am short of 30+ lakh and it is lot of money.

    The problem is as we delay this 30+lakh requirement increases further. if you have the money or family can contribute then its good or else you can only dream of buying good house and have to settle for less only.

    My learning is whatever you can afford go for it. Its not worth to keep checking Apt as you will always find something better than what you bought. its similar to and car purchase. Also its not worth waiting for prices to fall as its only notional value for place where you are living. I am not talking from investors perspective as its different ball game as I have 0 knowledge in it and am really afraid of brokers.
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  • Originally Posted by realguru
    You are falling short by 30 Lac. But you did not account for the fact that you saved 75k
    bank installment or interest of the whole property, had you purchased in 2009 . Add that amount to your wealth .

    In 4 years you saved 36 lac extra which would have gone down the drain in EMIs.
    ;)


    But he would also have made 60 lakhs capital gains .


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  • Originally Posted by Venkytalks
    But he would also have made 60 lakhs capital gains .


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    And EMIs one would eventually pay isnt it - you would hv only postponed the eventuality

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  • Originally Posted by Aviral79
    Hi Mates, did you see the latest JP investor presentation from May. JP has sold 359 acres land from the 1235 acres in Noida. Does anyone know which part has been sold. I know of the BOP sec 129 but that hardly few acres.

    http://www.indianrealestateforum.com/935279-post478.html


    Guys as far as I know Jaypee infratech Limited (JIL) has leased 352 acres to Jaypee assotech Limited (JAL) and sold about 6 acres to BOP group. these 352 acres are situated in Sec 128, that's why all golf view properties are sold/leased by JAL and all other properties are sold by JIL.

    Since the presentation is JIL's and not JAL's intercompany leases/sales are also considered parri-passu to leases/sales to any third parties. So there is nothing wrong for this statement in JIL;s investor manifest.

    I cant help but acknowedlge that the manifest has been badly designed :bab (59):
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  • I am talking of 4 years interest which would have gone down the drain.
    That amount if used today would bring the Principal amount of the current prices by around 36 lacs. So, where did that guy lose a lot ?


    Also, how can 60 lacs be the capital gain on property net gain . Deduct the interest paid to the bank and also the appreciation that you could have got on that interest paid had you invested that amount elsewhere.


    Originally Posted by dineshsays
    And EMIs one would eventually pay isnt it - you would hv only postponed the eventuality

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  • Originally Posted by realguru
    I am talking of 4 years interest which would have gone down the drain.
    That amount if used today would bring the Principal amount of the current prices by around 36 lacs. So, where did that guy lose a lot ?


    Also, how can 60 lacs be the capital gain on property net gain . Deduct the interest paid to the bank and also the appreciation that you could have got on that interest paid had you invested that amount elsewhere.


    Original presumption was 80 lakh property becomes 1.4 crore.

    You have already included the interest costs for 4 years.

    Actually you said 36 lakhs which is not interest cost but includes principal also. And you also assumed loan for whole amount rather than on 30 lakhs since 50 lakhs was to be from savings.

    Assuming person returns from US in 2009 and put 50 lakhs in FD he would have got 6% for 2 years and 8% for next 2 years. Say 15 lakhs minus tax = 10 lakhs.

    Money from interest on 30 lakh home loan at 9% for 2 years and 10% for 2 years. Say 10% for 4 years = 12 lakhs.

    Instead of that let us assume he saves 30000 per month from salary instead of paying EMI. Then after 4 years he will have 18 lakhs saved up including return

    Salary at 1.1 take home = 50 lakhs loanable.

    50 plus 10 plus 18 plus 50 = 128 lakhs.

    He cant buy the 1.4 crore flat any more. And even if he buys 1.3 crore flat he gets a much higher EMI and interest cost.

    He lost some 12 lakhs.

    But JP properties did not appreciate that much. Jp kube was sold at 3300 psf. Because JP gave only 10% per annum price escalation so person can still buy the same after 4 years also.

    Bulk of returns from JP still ahead based on completion premium.

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  • He lost 12 lacs .
    So, if 12 lacs is called missing the bus , then I have nothing more to say.

    BTW 80 lac to 1.4 crore is quite a lot appreciation that we took. Not all JP projects have given that.
    Also, no JP project has given more appreciation than this.

    And, we took the best case scenario of the appreciation of the property and worst case scenario for that guy's capital appreciation i.e. FD.



    Originally Posted by Venkytalks


    He lost some 12 lakhs.


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  • Originally Posted by realguru
    He lost 12 lacs .
    So, if 12 lacs is called missing the bus , then I have nothing more to say.

    BTW 80 lac to 1.4 crore is quite a lot appreciation that we took. Not all JP projects have given that.
    Also, no JP project has given more appreciation than this.

    And, we took the best case scenario of the appreciation of the property and worst case scenario for that guy's capital appreciation i.e. FD.


    I was just putting calculations straight. And I pointed out that JP projects havent appreciated that much especially Kube

    You have to assume FD for calculations.

    Ideally if planning RE purchase you should hedge by RE investments. Suppose person had invested in LB in 2009 at 3300 AI. Now 6600 AI. So his 50 lakhs becomes 1 crore with no loan. On CLP his slower payments cancel trasaction costs.

    He can now afford a 1.5 crore flat. 1.8 crore if he saved 30000 pm

    Always hedge in the asset of future expenditure.

    For gold for daughter marriage hedge in gold funds. For future flat hedge in flat. Hedge in same location also in case your call on location goes wrong.

    Also always buy RTM for self use after inspecting the flat. For example buy the JP flat after making sure of the view and quality.

    Dont believe a brochure. Buy what is visible.

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