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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  • Jaypee PH4 or Kalypso, what is a better buy at today's rates?
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  • Originally Posted by Prithu
    Jaypee PH4 or Kalypso, what is a better buy at today's rates?


    Kalypso


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  • Originally Posted by Aviral79
    Once this chip facility comes to Noida, it will be a huge push for the region and a sort of a game changer if Akhilesh and his Govt doe not screw this up.

    Jaypee is part of this consortium so no prizes for guessing that it will structure this around its RE business model to give maximum benefit to its projects and its investments.

    As Karnataka dithers, Rs 50,000 crore chip fabs may go to Gujarat and Noida - The Times of India


    This will be a great source of income for MSY and BMW. :bab (59):
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  • Originally Posted by dineshsays
    JP land is 100% clear - clear cut SC Ruling. Even farmers dont hv any interest. I met a leader who plays in Noida GC - even he said he was targeting 100 parcels but not the JP one.

    Venky bhai ne ruling bhi daali thi. Aparently NA n JP contested this together (as this was compensation by NA for JP for YEW etc)

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    Title is clear, except for small disputes - but the land bill recently passed has a retrospective clause.

    Only in India do we have such retrospective ligislations.

    Its impact on JP I dont know - probably it will only impact NOIDA authority and not JP.

    But NA might retrieve their expenses by jacking up the stamp duty or lease rent - which might get passed on.

    Bloody Congress. First we got service tax. Then land act. everything to make housing expensive. Future looks bleak.

    But real estate regulator - or Lok Pal - will never see the light of day.
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  • Originally Posted by "Venkytalks


    Title is clear, except for small disputes - but the land bill recently passed has a retrospective clause.

    Only in India do we have such retrospective ligislations.

    Its impact on JP I dont know - probably it will only impact NOIDA authority and not JP.

    But NA might retrieve their expenses by jacking up the stamp duty or lease rent - which might get passed on.

    Bloody Congress. First we got service tax. Then land act. everything to make housing expensive. Future looks bleak.

    But real estate regulator - or Lok Pal - will never see the light of day.


    Does the retrospective clause apply to the part about increase in super area?

    How sure are you about this?

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  • Originally Posted by Dikraa
    Does the retrospective clause apply to the part about increase in super area?

    How sure are you about this?

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    Super area increase has nothing to do with the land bill.

    Please dont confuse real estate regulatory bill (in limbo) with its super area increase prohibition with the land acquisition bill which is for compensation of farmers.

    What the retrospective clause means is that if the farmer sold land for development to govt or private hands, now there is increased compensation and this is retrospective for 5 years.

    Since YEIDA acquired the lands and then transferred it to JP under either itself or under Noida Authority for Wishtown, this will be treated as government acquisition and those farmers will might get more compensation because of such retrospective clauses. Some land was acquired in 2008 i.e borderline time period, others much earlier. One has to see.

    Question is - will it be borne by YEIDA or NA or will they try to pass on the costs to someone else = Jaypee = you and me
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  • Venky, IMO this can impact the builders but it cannot impact the buyers who have already bought. Its like you have signed a contract for a prodict and now if the inputs cost increases the seller still has to honor the contract. So the builders may need to pay more to farmers but they cannot ask existing buyers more money. they can only ask for a higher price to new buyers. What do you think?

    Originally Posted by Venkytalks
    Super area increase has nothing to do with the land bill.

    Please dont confuse real estate regulatory bill (in limbo) with its super area increase prohibition with the land acquisition bill which is for compensation of farmers.

    What the retrospective clause means is that if the farmer sold land for development to govt or private hands, now there is increased compensation and this is retrospective for 5 years.

    Since YEIDA acquired the lands and then transferred it to JP under either itself or under Noida Authority for Wishtown, this will be treated as government acquisition and those farmers will might get more compensation because of such retrospective clauses. Some land was acquired in 2008 i.e borderline time period, others much earlier. One has to see.

    Question is - will it be borne by YEIDA or NA or will they try to pass on the costs to someone else = Jaypee = you and me
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  • Originally Posted by Venkytalks
    Super area increase has nothing to do with the land bill.

    Please dont confuse real estate regulatory bill (in limbo) with its super area increase prohibition with the land acquisition bill which is for compensation of farmers.

    What the retrospective clause means is that if the farmer sold land for development to govt or private hands, now there is increased compensation and this is retrospective for 5 years.

    Since YEIDA acquired the lands and then transferred it to JP under either itself or under Noida Authority for Wishtown, this will be treated as government acquisition and those farmers will might get more compensation because of such retrospective clauses. Some land was acquired in 2008 i.e borderline time period, others much earlier. One has to see.

    Question is - will it be borne by YEIDA or NA or will they try to pass on the costs to someone else = Jaypee = you and me


    You are right; the super area issue is dealt in the real estate regulatory bill, while compensation for farmers is dealt with in the land acquisition bill. As far as retrospectively of the land acquisition bill is concerned, to my knowledge if the award for any acquisition under the current land acquisition act has not been made till the coming into force of the new bill, then the compensation and rehabilitation would have to be provided as per the new law. Also if the award of compensation was made five years or earlier but compensation has not been paid as yet or physical possession has not been taken then existing land acquisition proceeding would lapse and fresh proceedings under the new law would have to be undertaken.
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  • Originally Posted by Aviral79
    Venky, IMO this can impact the builders but it cannot impact the buyers who have already bought. Its like you have signed a contract for a prodict and now if the inputs cost increases the seller still has to honor the contract. So the builders may need to pay more to farmers but they cannot ask existing buyers more money. they can only ask for a higher price to new buyers. What do you think?


    You wish.

    Let me give you an example - one of the worst investment decisions of my life was to buy a built up unit of greater noida authority. 120 sq mt plot with 2 bedroom house fully built up and expandable. Total cost plus registry is 44L (plus 3-4 L fine which can be attributed to me but GNA charges massive interest rate) - anyhow it sounded quite good. Own plot with own expandable house, up n coming area.

    The issue is 2 fold - resale rates are anywhere between 38-42, GNA has stopped ALL development in that area (huge land for roads etc available - just no roads), AND have now said one has to pay an addnl 1.8 L over 3 installments so that GNA can pay addnl compensation to farmers. Now if this one comes into effect retrospectively - I dont know how much more they will charge. Infact the COURT has said recover from existing allottees.

    So my friend GNA is doing this themselves. They will be very very sympthetic for builders to recover for you and me. Or they will recover by increasing (doubling) circle rates or some such stunt

    One should really wish that for WT land JP does not hv to pay addnl compensation.

    Anyhow I think with this investment in RE has become so much riskier that I feel really let down by these authorites / politicos /builders actions.

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  • Originally Posted by dineshsays
    You wish.

    Let me give you an example - one of the worst investment decisions of my life was to buy a built up unit of greater noida authority. 120 sq mt plot with 2 bedroom house fully built up and expandable. Total cost plus registry is 44L (plus 3-4 L fine which can be attributed to me but GNA charges massive interest rate) - anyhow it sounded quite good. Own plot with own expandable house, up n coming area.

    The issue is 2 fold - resale rates are anywhere between 38-42, GNA has stopped ALL development in that area (huge land for roads etc available - just no roads), AND have now said one has to pay an addnl 1.8 L over 3 installments so that GNA can pay addnl compensation to farmers. Now if this one comes into effect retrospectively - I dont know how much more they will charge. Infact the COURT has said recover from existing allottees.

    So my friend GNA is doing this themselves. They will be very very sympthetic for builders to recover for you and me. Or they will recover by increasing (doubling) circle rates or some such stunt

    One should really wish that for WT land JP does not hv to pay addnl compensation.

    Anyhow I think with this investment in RE has become so much riskier that I feel really let down by these authorites / politicos /builders actions.

    Sent from my GT-I9300 using Tapatalk 2


    Even if this extra cost in form of additional compensation to farmers incurred by builders is transferred to existing allottees, would it not proportionately increase the property prices across the region in resale market as well.

    In such a scenario if the difference in existing cost and cost of unit after levying uch charges is huge, would banks be considerate enough to enhance the existing home loans of their customers.
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  • Originally Posted by anantm
    Even if this extra cost in form of additional compensation to farmers incurred by builders is transferred to existing allottees, would it not proportionately increase the property prices across the region in resale market as well.

    In such a scenario if the difference in existing cost and cost of unit after levying uch charges is huge, would banks be considerate enough to enhance the existing home loans of their customers.


    I would really like to believe this - but resale is a function of market price - which in turn is only influenced by purchase price to a small degree. It is more determined by demand and supply. A person buying - if he suddenly has to pay 10-15% extra - why would he buy - an investor certainly wouldn't; an end user might - only if he LOVES the property that he only has one eye on the price.

    Yes banks may increase the home loans - but what the hell - you have to pay them back.

    In my opinion you are finding positives where none exist (sorry for being a little blunt about it)
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  • What about villa in Jaypee Greens.

    I wanted to know something about Villa options in Jaypee Wish town, but could not find any thread on Kingswood Oriental and Kallisto Villas. It seems there is not much interest on these in IREF and and not much sale-purchase is happening in these two. Is there any good thread on IREF for information on these two? Can any body guide about these? My relative wants to purchase for their end use only.
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  • Saw flyers about 2A Golf Academy operating from "in front of Boomerang Club, Jaypee Wishtown, Noida". Any more information on that? Seems like you can do some golfing activity without being member of Boomerang?
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  • Originally Posted by bksdel
    I wanted to know something about Villa options in Jaypee Wish town, but could not find any thread on Kingswood Oriental and Kallisto Villas. It seems there is not much interest on these in IREF and and not much sale-purchase is happening in these two. Is there any good thread on IREF for information on these two? Can any body guide about these? My relative wants to purchase for their end use only.


    If you ask very pointed, very clear questions - I might have some inputs. But the more generic and wishy washy the question, I might not be able to help

    There is no thread on these AFAIK
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  • Originally Posted by dineshsays
    I would really like to believe this - but resale is a function of market price - which in turn is only influenced by purchase price to a small degree. It is more determined by demand and supply. A person buying - if he suddenly has to pay 10-15% extra - why would he buy - an investor certainly wouldn't; an end user might - only if he LOVES the property that he only has one eye on the price.

    Yes banks may increase the home loans - but what the hell - you have to pay them back.

    In my opinion you are finding positives where none exist (sorry for being a little blunt about it)


    Your logic is equally applicable to sudden increase in super area at possession. Recently ATS/JP has done and lot of investors are happy that overnight their flat has appreciated 10-15% where as it never happens as per your analysis. Correct ??
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