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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  • Could not make out clearly what this CRM person is trying to say in reply to my query.
    Can somebody help?
    _______________________________________________________________________________________________________________
    Dear Sir,

    I refer to new section 194IA under Income Tax Act, 1961 regarding deduction of TDS at the rate of 1% from payments made to builder.
    I have following query in this regard.


    1) 1% TDS will be on Demand raised by builder or Amount demanded + Service Tax.
    2) Service Tax payable to Builder will be on Demand Amount or Demand Amount minus TDS.

    If you can explain with an example of Rs 1 Lac demand amount, I shall be greatful to you.

    Dear Sir,

    Greetings from Jaypee Greens!

    In refrence to the mail herein below mail, your paid amount suppose Rs 1 lakh

    Demand+service Tax= 1 lakh

    Deduct 1% TDS on Rs 1 lakh.
    CommentQuote
  • Originally Posted by pngupta
    Could not make out clearly what this CRM person is trying to say in reply to my query.
    Can somebody help?
    _______________________________________________________________________________________________________________
    Dear Sir,

    I refer to new section 194IA under Income Tax Act, 1961 regarding deduction of TDS at the rate of 1% from payments made to builder.
    I have following query in this regard.


    1) 1% TDS will be on Demand raised by builder or Amount demanded + Service Tax.
    2) Service Tax payable to Builder will be on Demand Amount or Demand Amount minus TDS.

    If you can explain with an example of Rs 1 Lac demand amount, I shall be greatful to you.

    Dear Sir,

    Greetings from Jaypee Greens!

    In refrence to the mail herein below mail, your paid amount suppose Rs 1 lakh

    Demand+service Tax= 1 lakh

    Deduct 1% TDS on Rs 1 lakh.

    let me explain as i have done this. For 1 lacs, you will pay 99,000 to Jaypee and 1000 to government. there is site where i paid my tax. i can give you all details later. When you will submit tax on that site, a challan document will be generated. You will have to give this dcoument to jaypee and they will get this 1000 rs from government
    CommentQuote
  • Jaypee on loot spree

    Originally Posted by dheerajg77
    let me explain as i have done this. For 1 lacs, you will pay 99,000 to Jaypee and 1000 to government. there is site where i paid my tax. i can give you all details later. When you will submit tax on that site, a challan document will be generated. You will have to give this dcoument to jaypee and they will get this 1000 rs from government


    Hi guys,

    My brOther had bought a flat in krescent homes 2.5 years back when it was launched. Jaypee quickly took 40% payment in 3 months. He way late in paying 2 nd installment by a month time and 3rd installment by a week as hdfc delayed the payment. He talked to jaypee and they said it's not an issue and they won't levy any late payment charge.

    Since then there has hardly been any construction and they have been enjoying interest on that.

    Today he received his next demand but at the same time he has also been charged an overdue amount + interest of 65 k which has come from nowhere.

    This is sheer loot.

    Can you guys please suggest what can be done to avoid this? He is totally pissed off....
    CommentQuote
  • Originally Posted by bizarien
    Hi guys,

    He talked to jaypee and they said it's not an issue and they won't levy any late payment charge.


    Do you have any email or written confirmation to that effect?

    In India companies (even govt) go back on their written words, and you are expecting a builder to honor a verbal commitment?
    CommentQuote
  • Originally Posted by bizarien
    Hi guys,

    My brOther had bought a flat in krescent homes 2.5 years back when it was launched. Jaypee quickly took 40% payment in 3 months. He way late in paying 2 nd installment by a month time and 3rd installment by a week as hdfc delayed the payment. He talked to jaypee and they said it's not an issue and they won't levy any late payment charge.

    Since then there has hardly been any construction and they have been enjoying interest on that.

    Today he received his next demand but at the same time he has also been charged an overdue amount + interest of 65 k which has come from nowhere.

    This is sheer loot.

    Can you guys please suggest what can be done to avoid this? He is totally pissed off....


    Dude over do the drama.
    If it is a clerical, get it corrected.
    1 week and 1 month delay and 65K ka interest?
    Pebble court khareeda hai kya?
    CommentQuote
  • The jp system calculates interest on a daily basis.

    Rate of interest * amount payable * number of days past due

    Try working it out. Jp currently charges 12% earlier this was 18%.

    Since usually the values involved are large, It's quite possible to get this amount if the payment was delayed due to any reason.

    The interest is added on at the next demand.

    Sent from my GT-N7100 using Forum Runner
    CommentQuote
  • Its a simple thing and not particular to JP

    Its numbers and accounts - not something you leave on a casual friendly discussion. Casual friendly discussions do not supersede the SAP system calculating interest

    Why dont you - from time to time - ask for your SOAs from the customer care reps (they reply with this in 2-3 hours), and keep checking from time to time that all-izz-welll

    2.5 saal se check nahin kiya, really - what do you expect anyone to say
    CommentQuote
  • It depends on the reason why HDFC delayed. If the paper work in not complete between HDFC and Jaypee then its not your problem. As long as you have deposited loan cheque to the builder on time and you have the receipt of the same.

    Jaypee will waive off the payment and they did honour a verbal commitment in my case as i faced a similar issue. That's another thing that they may take time to do so.

    Originally Posted by bizarien
    Hi guys,

    My brOther had bought a flat in krescent homes 2.5 years back when it was launched. Jaypee quickly took 40% payment in 3 months. He way late in paying 2 nd installment by a month time and 3rd installment by a week as hdfc delayed the payment. He talked to jaypee and they said it's not an issue and they won't levy any late payment charge.

    Since then there has hardly been any construction and they have been enjoying interest on that.

    Today he received his next demand but at the same time he has also been charged an overdue amount + interest of 65 k which has come from nowhere.

    This is sheer loot.

    Can you guys please suggest what can be done to avoid this? He is totally pissed off....
    CommentQuote
  • About early payment discount>

    About early payment discount>
    If the due date of any demand is 20th of any month & buyer pay this demand on 10th of that particular month will JayPee grant any early payment discount?? Strange for me!
    But I found that EPD deduction in one of demand note!
    CommentQuote
  • Originally Posted by caplayer2012
    About early payment discount>
    If the due date of any demand is 20th of any month & buyer pay this demand on 10th of that particular month will JayPee grant any early payment discount?? Strange for me!
    But I found that EPD deduction in one of demand note!


    Yes they give you some interest for the early payment.

    How difficult is this TDS thing - is it so tedious that it would make sense to make one bulk payment of 2-3 demands at one go - do TDS once and also earn EPD at 12%
    CommentQuote
  • Originally Posted by bizarien
    Hi guys,

    My brOther had bought a flat in krescent homes 2.5 years back when it was launched. Jaypee quickly took 40% payment in 3 months. He way late in paying 2 nd installment by a month time and 3rd installment by a week as hdfc delayed the payment. He talked to jaypee and they said it's not an issue and they won't levy any late payment charge.

    Since then there has hardly been any construction and they have been enjoying interest on that.

    Today he received his next demand but at the same time he has also been charged an overdue amount + interest of 65 k which has come from nowhere.

    This is sheer loot.

    Can you guys please suggest what can be done to avoid this? He is totally pissed off....


    I faced the similar fate. Delay was 19 days. No demand was ever raised. My bank needed the statement of account, which i applied. They provided the statement of account. The interest shown in the account statement was staggering north of 50k.

    Aviral may be lucky but I wasn't. I sent letters saying that there appears to be a clerical mistake since i was informed at the time of payment that interest of 19 days is waived. They didn't budge. I met with their officers personally. They towed on official lines.

    Finally, I paid the interest amount. I also handed over a letter that payment is made under protest. I have also said in my letter that by the law of equity, I am now entitled to receive interest at the same rate, should their be any delays.

    Truth is my friend, we are just a small fish in the pond. I have no doubt that Law is on our side, but means to achieve justice is not only expensive but also exhaustive.
    That's the tragedy of my country.

    Until we receive possession, even if we try to file anything against these builders, it will just be boxing with their shadow, and in the end, it will be us who will be hurt. They will ensure that we do not receive possession. I know a case of Mumbai where a builder has refused to give possession since 2007 because he is not paid interest of Rs. 1 lakh. It is now that buyer has reached to National Consumer Forum (2013). A round to SC is still left. In SC, builder would ensure a heavyweight counsel to get the case admitted. Bye Bye Possession in this life time.

    I may be sounding pessimistic, but I have no choice. As I said, That's the tragedy of my country, justice is not available to small fishes like us.
    CommentQuote
  • Originally Posted by dineshsays
    Its a simple thing and not particular to JP

    Its numbers and accounts - not something you leave on a casual friendly discussion. Casual friendly discussions do not supersede the SAP system calculating interest

    Why dont you - from time to time - ask for your SOAs from the customer care reps (they reply with this in 2-3 hours), and keep checking from time to time that all-izz-welll

    2.5 saal se check nahin kiya, really - what do you expect anyone to say


    And look at this mindset. Builder charge interest, and interest on interest for two and a half year, and buyer is blamed for a blatant illegality.

    Even a bank sends a letter if any amount is due in the account, which customer has to pay.
    CommentQuote
  • Originally Posted by MeinSonu
    And look at this mindset. Builder charge interest, and interest on interest for two and a half year, and buyer is blamed for a blatant illegality.

    Even a bank sends a letter if any amount is due in the account, which customer has to pay.



    Builders talk goody-goody while payments are being made. Verbal assurances are given that there will not be any interest for delay. No demand for interest will be made and no communication will be sent.

    When when possession time comes, builder will drop the bomb. Hefty interest charges are levied. No choice but to pay else possession is blocked.

    We see this happening in most projects.
    CommentQuote
  • Originally Posted by MeinSonu
    And look at this mindset. Builder charge interest, and interest on interest for two and a half year, and buyer is blamed for a blatant illegality.

    Even a bank sends a letter if any amount is due in the account, which customer has to pay.


    Sonu, Jaypee does not have a policy of charging interest on Interest. I am 100% sure about this. Also, if you have got a payment receipt of on time payment then they cannot charge you Interest. It's simple and you can force them to withdraw interest.


    Sent from my iPhone 5 using Tapatalk
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