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 dineshsays
    Hi Folks - my apologies for keeping everyone interested waiting for this. I've been quite tied up and have not had a chance to contribute much at all.

    Anyhow, the following is written in all sincerity, if you agree with this - great, if you don't - that's ok as well. Not here to impose anything, just laying out what I feel.

    Delays - lets start with this. With a quick recap - launched in late 2007, WT virtually crawled for the first 3-4 years with no progress on the ground. If you visit WT and speak to one or two better individuals, even they will admit there were some wrongdoings initially and JP had to make a number of changes in both their corporate structure and with contractors to start seeing any movement

    Next came F1 prep and the crawl virtually came to a standstill. This was the time of extreme patience checking and pain and angst for anyone hoping for timely possession.

    Post F1 - for about the last 3 odd years have been quite good as far as construction is concerned. I have been seeing good progress in most towers and have been reporting the same periodically to everyone.

    With that in mind, I had personally thought and shared with many of you, what I thought would be possession timescales for various units.

    Unfortunately, I have realized that over the last 4-5 months, things have gradually slowed done - they have NOT, I repeat NOT stopped, but pace is slowed down. Let me give you a small project vide assessment of what I felt should have happened (based on good progress on ground from 2010/2011 - 2013, vs what has actually happened.

    Kalypso (It is difficult at home as we intended to shift by Diwali 2014 - but that's not happening - my wife is up in arms :( )
    - I had thought in October - that T1/T2 are virtually ready and fitted and a couple of coats of paint and possession for 2 towers should be announced. Now we are in March and although - everything seems ok - windows done, lift done, acs done, landscaping for 2 towers done, final painting is still left and also a good segregation way for other UC apartments. And I dont understand the logic - there is money for JP to be made on offering possession as well as some goodwill - I just cannot put a finger on why they dont complete this and handover - really - its 8-10 days of work. (I know). Silver Lining - well the only good thing is that all towers are structure complete and are progressing slowly. Overall I think we will miss overall (recent) targets by atleast 8-12 months judging by recent pace.

    Imperial - this is another major surprise. See, the structure was completed well by Q2 last year, surrounding roads, fences also ready, all services laid out, nice golf course in front, even the blockwork (rooms etc) have been ready - as they are done during casting time (not later like in many projects) - but overall fitment has crawled - infact crawled seems to be the hare, where I really want to describe a tortoise. Again, there is good money for JP to make on offer of possession, the more they delay, more expensive things get, worse is the bad name they get - combined with their debt issues and general RE issues these days - they are really screwing it up for them. Silver lining - it still is coming up very well - there is a nice shopping area coming up between, nice greenery etc etc - but SLOOOOWW. I dont see possession starting before Q2 2015 and had you asked me the question last year - I'd have said Q3 2014 for sure.

    Pavilion Heights - Exactly the same issue as Imperial - structure ready, fitments/finishing crawling, money to be made by offering possession - I dont understand it really - lack of operating capital to finish? issues with NA? just a corporate policy to delay - its really frustrating. PH - just one tower has one floor to go and all structure will be fully done - again project is coming out well - lot of openness and green area which is the hallmark of WT. Slow with a capital S.

    PC - well atelast most of PC looks to be progressing - apart from cluster 1, other clusters look to be 2-3-4 months away (apart from 1-2 later towers and just launched Royale). But with all else, it is JP pace - they live in their own hare and turtle story and play the turtule in super slo mo. PC has its good points and bad points - as a standalone project, it has come out ok (not great) - but killer is the delay. And yes, the true story on the ground is only 4 families have shifted - ready answer with JP is that once exams are over you will see more - I dont buy into this.

    Augusta Court/Kalisto Court - similar in status to what they were in Q3 2013 - there are things happening on the site - but at 30% to what they were - I mean these are freaking ready - do you painting, complete the knick knacks and handover already - they've come out quite well - I believe these remain amongst the best residences in Noida

    GC plots - real shame - these are such impressive areas to reside in but no one wants to lead - just 2-3 rubbish houses made (more for completion than anything else) - just one guy was giving it a serious effort (just behind Boomerang Club), but he has also packed up for the time being.

    Boomerang Club - yes it will be impressive, BUT WHEN? I mean these guys have taken 4 years to make just the structure with 0 fitouts - I dont think they can ready this for another year and a half. And its another shame - open the club, open the GC - there is huge rush at Noida GC and I am sure number of people would happily play here - earn some operating income, open WT to reach golfers who would be your no. 1 target audience and use this as a sales opportunity - but NO. JP is happy having built a great GC and have to spend lakhs and lakhs to maintain it.

    Knight Court - structurally, these are progressing ok so no complaints here - it is when they reach fitout stage - then we will see what happens

    Kingswood/Townhomes - there was a time last year when I thought, these will all be handed over by Q2 2014 - great units, great ambience, but no - it is the turtule story played in slo mo - all over again. Again - work is going on, nothing has stopped - but at a tenth of what is was earlier.

    Orchards/Kube - this has progressed very well and work was going on ok - when I saw - if someone knows something else, please post - but I am quite happy with the progress. Too early to comment on delivery etc

    Kensington Boulevard - picked up very well actually - infact these bucked JPs trend of speed when all other projects caught speed and now when everything is slowing down, these are standing out. Real test is now fitout stage which will be reached in 5-10 months.

    KP Plots - too much work around KB for it too be a meaningful environment to start building - I think the whole area needs development for another year before any serious construction starts

    JP Hospital - FREEEZE - what it was last year is what you see now - I mean get the DAMN FINAL TOUCHES DONE and START OPERATIONS ALREADY

    JP Admin Building - quite a lot of movement now - they look serious in starting operations now. Gates etc are coming up very well - finishing is good - they are doing lovely terrace gardens, overall - it is looking very classy - lets see.

    KB/Kristal - digging is in progress - no contractor announced formally (Aviral - FYI - all this is currently noise, nothing has been finalized - these guys will do digging/piling on their own and anytime from NOW till 6-8 months will a contractor be announced

    ---

    Sorry - I have limited insights on Kosmos etc - except that when I visited in Nov or so - area around T9 was looking good - but via recent pics, I can see nothing apart T9 is looking ready - so these guys have obviously delayed Kosmos/Klassic as well

    ---

    Summary - in summary - I have to say there have been numerous delays. Work is come down significantly - but this is somewhat perplexing - what I mean is, in general - all hard work - plumbing, cabling, gas pipelines, roadworks, security gates/rooms, full structure has all been done. There is money and goodwill to be made in handing over - fitouts are much much more easy than hard core civil works - and they can really be sped up - you have ALL floors to work on simultaneously (technically).

    Fundamentals remain - it still will be the best place to stay in Noida (save UGCC which has its own issues) - but one has to take a call on how much more waiting can be done as there is quite a bit left.

    Yes - protests etc are the way to go - 100% right - please lead/participate - whatever. Put as much pressure as possible.

    As far as investing is concerned - in any case - this is not the time to enter/exit - ACROSS. Only if a stable environment comes with Modi in a resounding position - do I think there may be some recovery - till then take some end use calls only.


    Fair assessment of the progress...will be really surprised if JP hands over the entire set of Kalypso / Imperial towers before Dec 2016.
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  • Originally Posted by rajatjain
    Fair assessment of the progress...will be really surprised if JP hands over the entire set of Kalypso / Imperial towers before Dec 2016.


    In that case, what would be the hand-over date for Orchards?
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  • Originally Posted by gareeb das
    Why some guys are accusing dinesh for not updating his report? as if he is responsible for the delays we are facing.

    We have invested in Jaypee & it was our own decision. Dinesh has not asked any-one of us to invest into Jaypee. Its our ill fortune that we are stucked with one of the worst builders (in terms of honoring its own commitments & for having no concern towards customers).

    Now we don;t have any other way than to join hands strongly in maximum numbers & fight with Jaypee to reduce the delay. Possession of Kosmos by Dec-2015 is no-way acceptable, when the project was launched somewhere in 2008-09.

    Many customers are literally cursing Jaypee for putting them into such a financial crisis (paying rents & EMI's). If you have slight faith in GOD, you can imagine what happens to a man if he is cursed from heart by so many people at same time. & Jaypee group is paying for it. They need to sell their milking assets one by one to run the show.

    In soloman island, if people want to remove a tree, they don;t cut it. They just gather around it & start cursing it. In few days the tree automatically die. This is a well known fact & shared here to explain the effect of curse from heart. Believe me, these things really work. May Jaypee get some feel of the pain we all are suffering from.


    Gareeb das, Let me speak for myself now. I have read Dinesh posts, and he is very very fair.
    If I go myself to click pictures - I will not be able to evaluate the progress. And, since I know he is very fair, I can trust him. Dinesh has been following Jaypee projects since the very beginning. So, he knows what the progress was throughout these 6-7 years, when did it slow down, why it slowed down, how it was resolved. I know nothing. You see, the above report is comprehensive and a perfect view of the current state of Jaypee.

    Here, I also want to thank dinesh for his efforts.
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  • Originally Posted by orchardman
    In that case, what would be the hand-over date for Orchards?


    Well, for Kosmos, where finishing is at an advance stage, they are now saying 2015.

    Let us make an estimated guess for Orchards completion. Towers A1 & A3 (the slowest towers) are at 8th floor. Assuming addition of 1 floor a month, Structure Completion for all OC towers will take atleast 24 months. Going by JP's past record in high rises like Imperial, add another 36 months for Finishing & Completion. So, we're talking 2019...makes sense???
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  • Originally Posted by dineshsays
    If there is anything specific I can answer - now is a good time.

    Thanks for the update Dinesh Bhai! We all appreciate it.

    Dinesh Bhai is hisaab se to Jaypee Krescent Homes ko bhi aise hi bana ke chor denge ye log. 95% payment ke baad wait karte raho ki kab finishing karenge aur kab NA ki sab formalities karke possession denge. It looks like it will be a LOOOOOONG WAIT :( Endusers ki pehle watt lagegi fir investors ki jinka itna paisa blocked hai :(

    Haath aaya par mooh na laga … taraste rahe hum sab!
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  • Thing is that with many new projects, money to be earned on possession (for JP) is quite hefty + the (unethical) carrot they have of Super Area increase.

    You really never know what may or may not happen.
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  • I also hope they should finally be doing something for it. Endusers are willing to give them money and get the product in time. I also hate this unethical carpet area increase. This has really stressed my finances.
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  • Dinesh Ji, dont u feel Pavilion Court Towers which have been given possession looks unfinished from outside...At least, they look a coat of paint Short......for instance Tower 5 is still under construction and there r patches of Cement on tower 4...any idea how r they planning for it....will they give all towers a final coat once most families r shifted...I know for instance they will finish the flats from inside once we ask them to give us possession but from outside the towers dont give a nice view........I have seen other properties at possession and they give a look of newness which is missing from PVC Towers which already looks sum yrs old....

    It looks same for Kalypso as well...
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  • Originally Posted by dineshsays
    Thing is that with many new projects, money to be earned on possession (for JP) is quite hefty + the (unethical) carrot they have of Super Area increase.

    You really never know what may or may not happen.


    Yup nothing is official about the Contractor but I did click some Ln T equipment doing excavation a few weeks back at kasablanca. I don't think they are renting equipment. Also. Soil testing and test piling was on at kristal site by itd. Turns out they are pilling specialists and pilling for many projects has done by them including kalypso. God knows when Jaypee will make official announcements. lemme find the pics...
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  • Originally Posted by lamps03
    Dinesh Ji, dont u feel Pavilion Court Towers which have been given possession looks unfinished from outside...At least, they look a coat of paint Short......for instance Tower 5 is still under construction and there r patches of Cement on tower 4...any idea how r they planning for it....will they give all towers a final coat once most families r shifted...I know for instance they will finish the flats from inside once we ask them to give us possession but from outside the towers dont give a nice view........I have seen other properties at possession and they give a look of newness which is missing from PVC Towers which already looks sum yrs old....

    It looks same for Kalypso as well...


    Yes - Ive seen patches on Pc. Well if greater noida is an example then paint coat should be applied once again.

    Kalypso final painting has nt happened at all

    Sent from my GT-I9300 using Tapatalk 2
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  • Very well said-
    "In soloman island, if people want to remove a tree, they don;t cut it. They just gather around it & start cursing it. In few days the tree automatically die. This is a well known fact & shared here to explain the effect of curse from heart. Believe me, these things really work. May Jaypee get some feel of the pain we all are suffering from."

    And as dinesh also said, come in big numbers if you really want to put pressure on Jaypee. Last time, there were 100+ people in protest with TOI/HT coverage. Let's keep the momentum untill our demands are not satisfied.

    I'm protesting for my home every weekend whenever it was decided - are you? For whom it's second home or an investment,you are loosing too.

    Please come & join us - 22nd MARCH 2014, 11:00 AM JAYPEE CAFETERIA
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  • There is a split among protestors for 22nd & 29th March. It's better to reschedule it to 29th March for large gathering as many parents among the protestors are seeing coming saturday i.e 22nd March as PTM at school being end of their kid's current class. Reschedule to 29th March 2014, 11:00 AM at Jaypee Cafeteria.
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  • Is their any 50%-50% payment scheme in any Golf facing units?? In resale or fresh? Particularly Knight Court. ..
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  • Hi
    was toiling with the idea of getting my one BHK in PC registered (delivered in Sep 13 officially). Does anyone know the process. Any other experiences would be welcome...pls post or PM
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  • List of projects with structure complete and finishing/internal plastering in progress-

    1) Kalypso Court.
    2) Imperial Court
    3) Pavillion Court.
    4) Pavillion Heights.
    5) Kosmos
    6) Klassic
    7) Kasa Isles.
    8) Kensington Boulevard.
    9) Kensington Heights/Park
    10) Knight's Court
    11) AMan (Not in wishtown)

    So maybe in 2015, wishtown may see possession of all these projects, some will get in 2014 also.
    What do you guys think?
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