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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: August 17 2020
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  • Re : Jaypee Greens Wishtown, Noida

    About early payment discount>

    About early payment discount>
    If the due date of any demand is 20th of any month & buyer pay this demand on 10th of that particular month will JayPee grant any early payment discount?? Strange for me!
    But I found that EPD deduction in one of demand note!

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    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by caplayer2012 View Post
      About early payment discount>
      If the due date of any demand is 20th of any month & buyer pay this demand on 10th of that particular month will JayPee grant any early payment discount?? Strange for me!
      But I found that EPD deduction in one of demand note!
      Yes they give you some interest for the early payment.

      How difficult is this TDS thing - is it so tedious that it would make sense to make one bulk payment of 2-3 demands at one go - do TDS once and also earn EPD at 12%
      Venky (Please read watch a or before posting)

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      • Re : Jaypee Greens Wishtown, Noida

        Originally posted by bizarien View Post
        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....
        I faced the similar fate. Delay was 19 days. No demand was ever raised. My bank needed the statement of account, which i applied. They provided the statement of account. The interest shown in the account statement was staggering north of 50k.

        Aviral may be lucky but I wasn't. I sent letters saying that there appears to be a clerical mistake since i was informed at the time of payment that interest of 19 days is waived. They didn't budge. I met with their officers personally. They towed on official lines.

        Finally, I paid the interest amount. I also handed over a letter that payment is made under protest. I have also said in my letter that by the law of equity, I am now entitled to receive interest at the same rate, should their be any delays.

        Truth is my friend, we are just a small fish in the pond. I have no doubt that Law is on our side, but means to achieve justice is not only expensive but also exhaustive.
        That's the tragedy of my country.

        Until we receive possession, even if we try to file anything against these builders, it will just be boxing with their shadow, and in the end, it will be us who will be hurt. They will ensure that we do not receive possession. I know a case of Mumbai where a builder has refused to give possession since 2007 because he is not paid interest of Rs. 1 lakh. It is now that buyer has reached to National Consumer Forum (2013). A round to SC is still left. In SC, builder would ensure a heavyweight counsel to get the case admitted. Bye Bye Possession in this life time.

        I may be sounding pessimistic, but I have no choice. As I said, That's the tragedy of my country, justice is not available to small fishes like us.

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by dineshsays View Post
          Its a simple thing and not particular to JP

          Its numbers and accounts - not something you leave on a casual friendly discussion. Casual friendly discussions do not supersede the SAP system calculating interest

          Why dont you - from time to time - ask for your SOAs from the customer care reps (they reply with this in 2-3 hours), and keep checking from time to time that all-izz-welll

          2.5 saal se check nahin kiya, really - what do you expect anyone to say
          And look at this mindset. Builder charge interest, and interest on interest for two and a half year, and buyer is blamed for a blatant illegality.

          Even a bank sends a letter if any amount is due in the account, which customer has to pay.

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by MeinSonu View Post
            And look at this mindset. Builder charge interest, and interest on interest for two and a half year, and buyer is blamed for a blatant illegality.

            Even a bank sends a letter if any amount is due in the account, which customer has to pay.

            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.

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by MeinSonu View Post
              And look at this mindset. Builder charge interest, and interest on interest for two and a half year, and buyer is blamed for a blatant illegality.

              Even a bank sends a letter if any amount is due in the account, which customer has to pay.
              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

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              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by SMJ2011 View Post
                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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                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by bizarien View Post
                  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.

                  Comment


                  • Re : Jaypee Greens Wishtown, Noida

                    Originally posted by Aviral79 View Post
                    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?

                    Comment


                    • Re : Jaypee Greens Wishtown, Noida

                      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 View Post
                      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
                      Last edited September 9 2013, 01:18 PM.

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