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 SMJ2011
    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.

    You can only compare Jaypee with other builders to know if they are comparatively good or bad.
    Jaypee is charging least of delayed interest- only 12 % per annum, while most of the other builder charge 24% per annum.
    And very unique thing, Jaypee is giving "early layment discount" if payment made before due date, and this EPD is given and adjusted in each payment/ next demand. Very few builder give you discount( or show that they may give it ) in last payment, if all payment made in time/ before time.
    Rest as Manoja says, if the bank has delayed payment due to documentation between Jaypee and bank, than you can argue and get interest waived off. But it will need to pursue many times, till it is done..
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  • 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....


    The onus is on the buyer to release the fund from bank unless there is some dependency with jaypee for the document. But 65K is a big amount, it means the delay must be around 3 months or more. Normally jaypee provides a quite good amount of time to the bank/buyers to pay the demand. But taking more than 3 months beyond that date is not acceptable to any builder. But you can talk if there is any genuine fault from jaypee.
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  • Originally Posted by Aviral79
    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


    I disagree. They have charged interest on interest. I am not sure where you get 100% surety from. I have a statement of accounts to prove that. The interest charge in 2011 for 19 delays was 58k. In 2013, when the statement was received in 2013...it became 63k. This is interest on interest. I don't know how you understand this concept.

    Since you are aware of internal policies of jaypee...may be you could help, and get it reversed?
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  • Jaypee Greens - Noida

    My friend, i am here to help from my experience. Of you dont like being helped please ignore my comment.

    Also Please ask for details of this increase. You will know the policy too. No rocket science.

    Originally Posted by MeinSonu
    I disagree. They have charged interest on interest. I am not sure where you get 100% surety from. I have a statement of accounts to prove that. The interest charge in 2011 for 19 delays was 58k. In 2013, when the statement was received in 2013...it became 63k. This is interest on interest. I don't know how you understand this concept.

    Since you are aware of internal policies of jaypee...may be you could help, and get it reversed?





    Sent from my iPhone 5 using Tapatalk
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  • Hi,

    Has anyone paid TDS online.
    My query is whether TDS to be deducted will be 1% on (Demand + Svc tax) or (Demand).

    When I spoke to Jaypee's CRM - they say deduct 1% on (Demand+Svc Tax) while when I checked with Loan provider HDFC Ltd, they say deduct TDS on Demand amount only.
    Not sure who is right.
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  • Originally Posted by Aviral79
    My friend, i am here to help from my experience. Of you dont like being helped please ignore my comment.

    Also Please ask for details of this increase. You will know the policy too. No rocket science.






    Sent from my iPhone 5 using Tapatalk


    My friend if you really want to help please tell me whom to talk to in Jaypee office.

    if you think that I did not spend hours at Jaypee office asking them to explain to me my statement of account, I think you are reaching to an unfair conclusion, and I have no idea how you are reaching it. So in a way your comment is not helping at all.

    So far, the experience of dealing with personnel at Jaypee office has been awful. May be you could really help and guide me to some sane and intelligent official, who've got a bit of understanding.
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  • i understand ur apathy...but if interest amount remains unpaid for a long time it is bound to attract additional interest...even banks do that..if you dont pay emi for 6 months..they add interest to your outstanding every month and charge further interest on entire outstanding..

    Originally Posted by MeinSonu
    I disagree. They have charged interest on interest. I am not sure where you get 100% surety from. I have a statement of accounts to prove that. The interest charge in 2011 for 19 delays was 58k. In 2013, when the statement was received in 2013...it became 63k. This is interest on interest. I don't know how you understand this concept.

    Since you are aware of internal policies of jaypee...may be you could help, and get it reversed?
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  • This is great news -

    MUMBAI: In what would be the biggest signal of a revival of strategic foreign interest in distressed Indian power firms after a long hiatus, Abu Dhabi government's flagship public utility holding company Abu Dhabi Water & Electric Authority (ADWEA) has emerged as the frontrunner to acquire two mega operating hydro-power projects in Himachal Pradesh from the diversified infrastructure conglomerate Jaypee Group.

    Jaypee's listed power arm Jaiprakash Power Ventures Limited (JPVL) - also the country's largest private sector hydro-power producer with 1.7 giga watts (GW) operational capacity -- is in advance negotiations with ADWEA and its underlying operating companies to sell the 300 mega watts (MW) Baspa II and the 1000 MW Karcham Wangtoo project on the Sutlej river for around Rs 12,000 - Rs 13,000 crore ($1.84 -$2 billion at Rs 65/dollar conversion), said multiple sources involved. The total project cost for the two is close to Rs 8900 crore, which includes Rs 2600 crore equity

    Abu Dhabi's utility co ADWEA to acquire Jaypee’s hydro assets in Himachal for $2 billion - The Economic Times
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  • This is enough money to complete the Noida WT and mush more.
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  • Most of the Jaypee Projects are delayed. How Jaypee will settle interest on late possession of the premises/land.

    In above communication Jaypee is charging 12% interest p.a. on delayed payment and as said by aabansal that “if we if interest amount remains unpaid for a long time it is bound to attract additional interest...even banks do that..if you dont pay emi for 6 months..they add interest to your outstanding every month and charge further interest on entire outstanding.”

    Than in this manner will Jaypee pay the delayed interest to the buyers.
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  • Hello Guys,

    Need Help!!!!

    I just completed buying an apartment .
    I paid to Seller = 25Lakh
    Total remaining to builder = 30Lakh

    The payment to seller is already done.
    I just came to know that I should have deducted TDS from the amount to seller but I didnt.

    What should I do???
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  • Originally Posted by SherSingh
    Hello Guys,

    Need Help!!!!

    I just completed buying an apartment .
    I paid to Seller = 25Lakh
    Total remaining to builder = 30Lakh

    The payment to seller is already done.
    I just came to know that I should have deducted TDS from the amount to seller but I didnt.

    What should I do???

    SherSingh it appears your initial understanding with the seller does not include 1% TDS, you have limited or no choice but to pay the 1%.

    You should have included the TDS bit in the understanding / agreement and that it will be deducted....hence no choice but tp pay....
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  • Originally Posted by grassik
    SherSingh it appears your initial understanding with the seller does not include 1% TDS, you have limited or no choice but to pay the 1%.

    You should have included the TDS bit in the understanding / agreement and that it will be deducted....hence no choice but tp pay....


    Out of below, which all would be included to calculate 50lacs?
    Car Parking
    IDC
    EDC
    Electric sub station
    LEASE RENT
    CLUB+MEMBERSHIP
    Maintenance
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  • Originally Posted by grassik
    SherSingh it appears your initial understanding with the seller does not include 1% TDS, you have limited or no choice but to pay the 1%.

    You should have included the TDS bit in the understanding / agreement and that it will be deducted....hence no choice but tp pay....


    Sellar pays all the money paid by buyer including service tax thaen why not tds.I am in a process of selling my unit for which I have received advance and full payment is awaited. Will jp official ask fortds at the time of transfer
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  • Originally Posted by aabansal
    i understand ur apathy...but if interest amount remains unpaid for a long time it is bound to attract additional interest...even banks do that..if you dont pay emi for 6 months..they add interest to your outstanding every month and charge further interest on entire outstanding..


    Apathy??????????? Really???

    Banks do that because they specifically provide it under the agreement. Please check any banking credit facility document that you have signed and in the interest clause, search for words, "with monthly rest" or with "quarterly rest". Please find me which clause in Jaypee agreement provides that.

    Also, builder charging interest is in the nature of penalty. It is not in the nature of cost of funding which bank charge from their customers. interest on interest is permitted when the interest in the first instance is capitalized. penal interest cannot be capitalized as per law, and therefore there is no question of charging interest on penal interest. So your parallel is wrong.
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