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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  • Possession Dates

    Venky, I hope you are not serious about non Klassic and Kosmos dates.. seeems to be daunting.. Also, in our Allotment letter there is 36 month time frame given. Will we be entitled to INR 5 /Sqft penalty after 36 months of agreed time. Absence of Builder/Buyer agreement make me nervous.
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  • I am planning to invest in Imperial Court , price seem attractive for non golf course facing side. what is other members' opinion. what could be pros and cons of this discounted offer.
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  • Anubhav, Imperial court is good for own use - one of the best places to live in NOIDA in the furure - some 4-5 years from now. If you are based in NOIDA, cant think of a better option in this price range and with this specifications.

    Not so good for investment - Gurgaon is a better option available at similar prices.
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  • Originally Posted by amit.sharma80
    Venky, I hope you are not serious about non Klassic and Kosmos dates.. seeems to be daunting.. Also, in our Allotment letter there is 36 month time frame given. Will we be entitled to INR 5 /Sqft penalty after 36 months of agreed time. Absence of Builder/Buyer agreement make me nervous.


    They are supposed to deliver in mid 2012. Middle of 2013 means builder pays 5x12=60Rs per sq feet = 60,000 Rs for one year delay in 1000 sf apt.

    Builder is collecting 90-95% for the RC alone. So you would have given him 2700x1000 = 27L plus other charges = 35L. Assuming 1000Rs psf for RC work (outside estimate), he would have spent 10L. Rest 25L earns him some 2.5L in one year. For finishing, he requires another 1000Rs (again outside limit) = 10L. If he delays for just 4 more years, he will get the full cost of finishing from interest earned from OUR money - and he gets to keep the capital for himself. Because we are paying 90% of cost upfront - he has every incentive to delay.

    Why would he not pay 5Rs psf? Where else can he access such large capital at such attractive terms?

    The longer he delays, the more money he makes. His only hit is the blow to his reputation and loss of further booking.

    I am assuming that if JP infrastructure want to build any brand value, he will have to desist from such horrendous delays, which are financially rewarding for him. Unfortunately, this has not deterred JP from delays in Pavillion and Klassic of around 1.5 years or more. But because he has a lot of competition now from 3C and Logix (which has decimated JP reputation promting price cuts in Kensington vs. price rise in 3C) he cannot afford any big hits on his reputation.

    BTW, Amit Sharma, where have you booked?
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  • Kindly bear my little knowledge about Jaypee Greens.

    All I want to know whether it is really greens?

    Like Sector 93 B ( Omaxe Forest Spa).

    Also whether JP Greens shall reamin sprawling , full of fresh air , khulla khulla, and shall not be affected with congestion down 10 years?
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  • Originally Posted by Venkytalks

    The longer he delays, the more money he makes. His only hit is the blow to his reputation and loss of further booking.

    Hi Venky,

    For a builder a delay is a bigger hassle than for a customer. More than just reputation and loss of booking which anyway is a huge hit, his entire financials go for a toss. He is already under debt and is paying a very high cost of money to lending companies. One of a friend who is a builder has himself informed me of the perils of delay, his license can be revoked if a consumer puts complaint against him.The case maybe a bit different for JP as a whole due to their political connections and large holding capacity due to the land bank they own, but all in all delay is as bad for a builder as it is for a customer if not more:)
    The longer he delays, the more money he makes. His only hit is the blow to his reputation and loss of further booking.

    Hi Venky,

    For a builder a delay is a bigger hassle than for a customer. More than just reputation and loss of booking which anyway is a huge hit, his entire financials go for a toss. He is already under debt and is paying a very high cost of money to lending companies. One of a friend who is a builder has himself informed me of the perils of delay, his license can be revoked if a consumer puts complaint against him.The case maybe a bit different for JP as a whole due to their political connections and large holding capacity due to the land bank they own, but all in all delay is as bad for a builder as it is for a customer if not more:)
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  • Dear Colleagues

    can you advice what discount further can be negotiated for imperial court. i have been offered bsp 4500 . any one booked appt in this project. kindly guide regarding prevailing discounts in addition to DP discount with luxury projects of jaypee.
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  • Originally Posted by anubhaviit
    Dear Colleagues

    can you advice what discount further can be negotiated for imperial court. i have been offered bsp 4500 . any one booked appt in this project. kindly guide regarding prevailing discounts in addition to DP discount with luxury projects of jaypee.


    Anubhaviit,
    BSP of Rs4500 is CLP with dealer discount included ?
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  • no dealer discount, how much can the dealer discount be negotiated.
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  • Originally Posted by Venkytalks
    They are supposed to deliver in mid 2012. Middle of 2013 means builder pays 5x12=60Rs per sq feet = 60,000 Rs for one year delay in 1000 sf apt.

    Builder is collecting 90-95% for the RC alone. So you would have given him 2700x1000 = 27L plus other charges = 35L. Assuming 1000Rs psf for RC work (outside estimate), he would have spent 10L. Rest 25L earns him some 2.5L in one year. For finishing, he requires another 1000Rs (again outside limit) = 10L. If he delays for just 4 more years, he will get the full cost of finishing from interest earned from OUR money - and he gets to keep the capital for himself. Because we are paying 90% of cost upfront - he has every incentive to delay.

    Why would he not pay 5Rs psf? Where else can he access such large capital at such attractive terms?

    The longer he delays, the more money he makes. His only hit is the blow to his reputation and loss of further booking.

    I am assuming that if JP infrastructure want to build any brand value, he will have to desist from such horrendous delays, which are financially rewarding for him. Unfortunately, this has not deterred JP from delays in Pavillion and Klassic of around 1.5 years or more. But because he has a lot of competition now from 3C and Logix (which has decimated JP reputation promting price cuts in Kensington vs. price rise in 3C) he cannot afford any big hits on his reputation.

    BTW, Amit Sharma, where have you booked?


    Hi Venky, I have booked a flat in Kensington Appartments. Let's hope even with delays, we get what is promised a green open surrounding and well built flats similar to what we have in JP Greens Greater Noida.
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  • i agree

    Originally Posted by Venkytalks
    Because we are paying 90% of cost upfront - he has every incentive to delay.

    Why would he not pay 5Rs psf? Where else can he access such large capital at such attractive terms?



    agree totally, especially when they need funds for the various expressway construction expenses. May be thats the reason why Japyee really does not worry about 'brand', 'image' etc. they are launching projects of class that you do not get at these rates anywhere in India, but the point to see is with these sure shot delays...are these projects/housing really coming at the cost that they are selling? to my understanding they would cost atlest 50% more than one would have thought , which makes them almost equal to Unitech project on opposite side of the expressway!! which then starts making sense why Japyee would sell cheaper than unitech for similar size/style/specifications.

    best regards,, which makes them almost equal to Unitech project on opposite side of the expressway!! which then starts making sense why Japyee would sell cheaper than unitech for similar size/style/specifications.

    best regards,
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  • so what is the status of imperial court right now. i.e. how many floors have been completed and how many floors are planned. that will give an idea on how much time it will take to complete it.
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  • So any news on Imperial court, going rates and discounts. plz advice
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  • Land in Jaypee Noida Golf course

    Hi, i want to throw open an interesting discussion to people to want to invest in imperial or kalypso court in Jaypee sector 128 :

    The price at which deal can be struck here is between 5500-5800 (for the golf view apartments)

    For a 4 BHK (3400 sqft) that approx. makes the cost = Rs. 1.90 cr to 2.10
    Carpet area of the flat would around 70% i.e. 2400 sq ft. Note that there are hundreds or probably thousands of apartments in the Jaypee Noida Golf course development.

    Now, consider plots which are there : approx. 150 plots in all available today in resale at a price between 100000 - 120000 per square yard depending upon location.

    For comparison with a 4 BHK, consider a 240 sq yard plot on which you can build approx. 4000 sq ft

    Cost of Land = average 110000 x 240 =2.64 crores
    Cost of construction (A grade) = 1500 x 3400 = 50 lakhs

    You have full house in the middle of the golf course 3.15 crs and you are bang in the middle of the golf course, 1 amongst 150 rather than 1 amongst 1000s.

    Question to all real estate experts : with the above calculations - is the land undervalued or the apartments overvalued ?

    In Delhi, a house would cost probably 3-4 times more than an apartment (considering equal built up area)
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  • Dear Vshinde

    Today imperial court is available for 3800, all inclusive cost 1.4cr

    whats ur take on this
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