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 rahulkumar12
    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 ??


    I dont know if it NEVER happens. From my experience it HASNT happened to ME. Most resale deals after a point are decided on full price and hardly if ever on BSP. Karte rahe builder/ authority kuch bhi. The only material thing that is impacted is the ratio of back/white - white has to increase if Circle Rate increases (or sales may die down)

    Only poor uninformed souls with lots of money will fall into this (in resale) trap of happily paying more for the same flat.

    Everyone eventually has a budget that they buy out of - it is not a BSP derived never ending POT.

    So in my opinion - Super Area increase DOES NOT translate into the value of your flat going up. Unless you get a desperate or quite frankly, a dodo of a buyer (moneywise).
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  • Originally Posted by dineshsays
    I dont know if it NEVER happens. From my experience it HASNT happened to ME. Most resale deals after a point are decided on full price and hardly if ever on BSP. Karte rahe builder/ authority kuch bhi. The only material thing that is impacted is the ratio of back/white - white has to increase if Circle Rate increases (or sales may die down)

    Only poor uninformed souls with lots of money will fall into this (in resale) trap of happily paying more for the same flat.

    Everyone eventually has a budget that they buy out of - it is not a BSP derived never ending POT.

    So in my opinion - Super Area increase DOES NOT translate into the value of your flat going up. Unless you get a desperate or quite frankly, a dodo of a buyer (moneywise).


    200% Right.

    regards
    sbajaj
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  • Originally Posted by rahulkumar12
    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 ??


    On a separate point...Krescent Homes is in different league altogether where super area increased before the digging was over...forget the possession:bab (59):
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  • Originally Posted by MeinSonu
    On a separate point...Krescent Homes is in different league altogether where super area increased before the digging was over...forget the possession:bab (59):


    This sounds more honest. They changed the plans and knew what they were doing before starting construction. And admitted so openly so that atleast ppl buying during construction would know what they're buying.

    Compare this with someone who constructs a tower of 30+ floors, and keeps selling apartments as per the old area during construction, and at the end of the construction says: "Oops, its 15% larger than what I wanted to make"!!!

    If required, even a halwai can make gulabjamuns within 5% of the specified weight/ size...but the builder goofs up by 15%! And guess what...always in the direction of making a 'larger' apartment.

    Well, have to take it on the chin. That's the downside risk of 'leveraged' CLP investing in under-construction property in India.
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  • Originally Posted by dineshsays
    I dont know if it NEVER happens. From my experience it HASNT happened to ME. Most resale deals after a point are decided on full price and hardly if ever on BSP. Karte rahe builder/ authority kuch bhi. The only material thing that is impacted is the ratio of back/white - white has to increase if Circle Rate increases (or sales may die down)

    Only poor uninformed souls with lots of money will fall into this (in resale) trap of happily paying more for the same flat.

    Everyone eventually has a budget that they buy out of - it is not a BSP derived never ending POT.

    So in my opinion - Super Area increase DOES NOT translate into the value of your flat going up. Unless you get a desperate or quite frankly, a dodo of a buyer (moneywise).


    Agree with this 100% and that is why Super Area increase is not acceptable and has to be opposed legally. Unfortunately buyers are not getting together to form association.

    Pity.

    Dinesh - are you interested?
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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?


    No. It impacts the authority and they can do anything to you because you have not yet registered flat in your name. Actually they can even recover money AFTER registration. Govt has all these powers.

    Originally Posted by Villager
    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.


    Problem is that some farmers file a court case and not every case has been settled, although Supreme court has vacated the main cases clubbed together. But some cases continue.

    And if one farmer gets better compensation, Govt will have to give to all for vote bank

    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


    Agree with this. Govt policies are anti buyer and pro-corruption.

    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.


    Increase in prices in NOIDA is majorly related to increased land cost in just this fashion.

    Bank loan is also your money - since you need to pay back with interest

    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.


    Buyers in Kingswood are too rich to participate in IREF discussions - this is for middle class buyers (and some millionaire investors also)
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  • Originally Posted by MeinSonu
    On a separate point...Krescent Homes is in different league altogether where super area increased before the digging was over...forget the possession:bab (59):


    Krescent home case is funny. 2 bhk flat booked size of 1230 with a 10% increase clause in PAL where as there is new brochure that someone posted with area of 1330 for same flat. I am sure this 1330 PAL also has a 10 % increase resulting in same flats with different SUPER areas during possession, I think any court will reject such an Anomaly but I doubt if an investor will take that trouble. It simply does not make sense for an investor to block his capital in litigation for a few lacs even if he does not have a chance to recover that from the market due to area increase.
    That does not stop end users from dragging the builder to the court.


    Sent from my iPhone 5 using Tapatalk
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  • Originally Posted by Venkytalks
    Agree with this 100% and that is why Super Area increase is not acceptable and has to be opposed legally. Unfortunately buyers are not getting together to form association.

    Pity.

    Dinesh - are you interested?


    Venky - I am extremely interested, I just dont have the time for next 6-10 months. There is a new venture we've started with friends which is slated to go-live next month which is just sucking my time. Then half the time I'm in Goa these days for a project going on there.

    As I take a short breather I get on IREF and a few others and really thats it.

    Really is a pity personally - for not being able to contribute apart from these few bits online
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  • Originally Posted by dineshsays
    I dont know if it NEVER happens. From my experience it HASNT happened to ME. Most resale deals after a point are decided on full price and hardly if ever on BSP. Karte rahe builder/ authority kuch bhi. The only material thing that is impacted is the ratio of back/white - white has to increase if Circle Rate increases (or sales may die down)

    Only poor uninformed souls with lots of money will fall into this (in resale) trap of happily paying more for the same flat.

    Everyone eventually has a budget that they buy out of - it is not a BSP derived never ending POT.

    So in my opinion - Super Area increase DOES NOT translate into the value of your flat going up. Unless you get a desperate or quite frankly, a dodo of a buyer (moneywise).


    Dinesh bhai has your unit crossed the flooring and plastering completion stage? Jaypee has raised a demand for completion but i was wondering how can they do plastering when they have not even put in the windows? Wont the rain destroy the plastering job and cause silan?
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  • Originally Posted by dineshsays
    Venky - I am extremely interested, I just dont have the time for next 6-10 months. There is a new venture we've started with friends which is slated to go-live next month which is just sucking my time. Then half the time I'm in Goa these days for a project going on there.

    As I take a short breather I get on IREF and a few others and really thats it.

    Really is a pity personally - for not being able to contribute apart from these few bits online


    Actually after being very busy I now have some time - although still winding up some work till end of this year.

    From next year I will have lots of time to do this and it needs to be done - pressingly.
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  • Originally Posted by Imperialnoid
    Dinesh bhai has your unit crossed the flooring and plastering completion stage? Jaypee has raised a demand for completion but i was wondering how can they do plastering when they have not even put in the windows? Wont the rain destroy the plastering job and cause silan?


    In normal circumstances yes - but remember these are RCC shear walls (Imperial/Kalypso) - even raw walls were more or less finished and have a lot of inherent waterproofing within. Plastering is just to prepare for POP etc. Yes plastering is being done up - without all windows being done but I'm not worried that it is overtly incorrect as well (Rains are virtually done here in any case)

    I bought in PDP so my next demand will only come on offer of possession bro
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  • Also, water is good for the plastering when it's fresh. It's helps to strength it.



    Originally Posted by dineshsays
    In normal circumstances yes - but remember these are RCC shear walls (Imperial/Kalypso) - even raw walls were more or less finished and have a lot of inherent waterproofing within. Plastering is just to prepare for POP etc. Yes plastering is being done up - without all windows being done but I'm not worried that it is overtly incorrect as well (Rains are virtually done here in any case)

    I bought in PDP so my next demand will only come on offer of possession bro





    Sent from my iPhone 5 using Tapatalk
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  • Jaypee Greens - Noida

    That is interesting. Work in Goa is like a dream. If you don't mind sharing, what sort of venture have you started.

    Originally Posted by dineshsays
    Venky - I am extremely interested, I just dont have the time for next 6-10 months. There is a new venture we've started with friends which is slated to go-live next month which is just sucking my time. Then half the time I'm in Goa these days for a project going on there.

    As I take a short breather I get on IREF and a few others and really thats it.

    Really is a pity personally - for not being able to contribute apart from these few bits online





    Sent from my iPhone 5 using Tapatalk
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  • Originally Posted by Aviral79
    That is interesting. Work in Goa is like a dream. If you don't mind sharing, what sort of venture have you started.






    Sent from my iPhone 5 using Tapatalk


    Sure - Goa we are doing a big factory / facility / corporate office (design, execution, interiors, project management etc) but the exciting bit personally is that next month we launch (only to family and friends initially) our online store to directly buy all kinds of building materials - right from bricks and blocks to doors and windows to waterproofing and insulation material to security systems to blockboards, commercial boards, plywood, veneers to lighting, plumbing material, taps and basins, and accessories to kitchenware, paints, to all kinds of electrical wires, switches to floor tiles, door latches, mortise locks and really a whole lot more.....the idea is that for any construction project (repair/new - home/shop/commercial) most people undertake we would provide almost everything one needs - multiple brands, multiple price bands at fairly competitive pricing

    Just the final bits going on before we finally do a formal internal launch, followed by a stability period and a more public launch thereafter

    It is looking quite good so far, fingers crossed :)
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  • Good going, Dinesh. Excellent choice on the line of business.

    With your sincerity and eye for detail, am sure you guys will make it a great success.
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