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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  • Hi Yash - any recent visits to WT - anything on progress in Knight? I keep checking Kalypso which seems slow but still progressing. Say 20-25% pace.
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  • Originally Posted by dineshsays
    Hi Yash - any recent visits to WT - anything on progress in Knight? I keep checking Kalypso which seems slow but still progressing. Say 20-25% pace.



    Knights group had a meeting with Ajit & others on 6th Dec...
    Asked them to build sample flat for KnightsCourt in similar state which they will give at the time of hand-over. It was supposed to be ready by 6th Dec but now new revised date of 10th Jan....

    They are deep red in the construction schedule they shared which we follow in the monthly meetings...
    Internal agreed possession date is July/Aug 2015 which is far far away from reality.
    Legal is the only viable route rather wait n watch....
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  • Thanks for the info Yash. Doesnt sound good. I think we should go legal. Family is worried about KB as nothing much has started
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  • Going legal = return of money with interest (12 or 18%).

    You can probably request it from the management and get it at 12% without any legal case
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  • with 30% cancellation deduction, i believe
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  • Venky - they (jaypee) cuts 10% of total project cost and gives the reduced money back after 0 interest. In case of Kasablanca that 10% is very stiff.

    Unfortunately as I understand a case is made after the delay period passes which for KB is still 2 years away and 'theoretically' they can still make it in this time. Yes I hv a email from them that dates have slipped quite a bit.

    Could anyone confirm this? And since this > 1 Cr - would this be addressed in national court?

    Any clarification would be helpful
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  • Originally Posted by Venkytalks
    Going legal = return of money with interest (12 or 18%).

    You can probably request it from the management and get it at 12% without any legal case



    Are you kidding me. Who have you heard this from. Their is absolutely nothing that Jaypee is giving.
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  • Originally Posted by dineshsays
    Venky - they (jaypee) cuts 10% of total project cost and gives the reduced money back after 0 interest. In case of Kasablanca that 10% is very stiff.

    Unfortunately as I understand a case is made after the delay period passes which for KB is still 2 years away and 'theoretically' they can still make it in this time. Yes I hv a email from them that dates have slipped quite a bit.

    Could anyone confirm this? And since this > 1 Cr - would this be addressed in national court?

    Any clarification would be helpful



    Exploring ncdrc is not going to help as the possession time is still far away. They have a chance to make it. But do get a letter from them about delay and see if that helps. Plus you are also in kalypso so they will disqualify as consumer and put you in investor category, this is what will be Jaypee stand.
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  • Originally Posted by Aviral79
    Exploring ncdrc is not going to help as the possession time is still far away. They have a chance to make it. But do get a letter from them about delay and see if that helps. Plus you are also in kalypso so they will disqualify as consumer and put you in investor category, this is what will be Jaypee stand.


    Sorry what is this categorisation about being an investor VS a consumer and what are the implications of being put in the category

    I thought most builders treat investors with kid gloves than a end user in hope of repeat/ regular business
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  • Most builders treat investors, brokers, end users, employees, partners and more often these days - brothers, sisters and parents with equal disdain.

    There is no honour among thieves.

    Jaypee has probably been the worst when it comes to investor management.
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  • Originally Posted by dineshsays
    Venky - they (jaypee) cuts 10% of total project cost and gives the reduced money back after 0 interest. In case of Kasablanca that 10% is very stiff.

    Unfortunately as I understand a case is made after the delay period passes which for KB is still 2 years away and 'theoretically' they can still make it in this time. Yes I hv a email from them that dates have slipped quite a bit.

    Could anyone confirm this? And since this > 1 Cr - would this be addressed in national court?

    Any clarification would be helpful

    Have you asked this? Dont assume. Ask them.

    Second step is to threaten legal action and demand full money back with interest.

    Third step is file case citing delay. If amout mentioned on PAL is over 1 crore then yes national consumer forum in Delhi. You will get judgement in 3 years. You can file now and wait. Withdraw case if delivery suits you better at later date. Return of principal with 12% interest is almost assured.
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  • Thanks Venky - I hv their full cancellation guidelines somewhere. Quite sure about the 'rules'. But Ive never actually asked.

    I dont mind putting a case with national forum save the piece aviral shared that since I hv another property in WT I would be treated as an investor and not a consumer. Do you know much about this?
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  • Originally Posted by dineshsays
    Thanks Venky - I hv their full cancellation guidelines somewhere. Quite sure about the 'rules'. But Ive never actually asked.

    I dont mind putting a case with national forum save the piece aviral shared that since I hv another property in WT I would be treated as an investor and not a consumer. Do you know much about this?


    You are wrong.

    Don't assume anything without speaking to a lawyer.

    It appears you have never seen the proceedings in a court. I'm talking about a proper court and not the court you saw in that movie Jolly LLB. :)

    Buying one property for self use another in the same project for say rental income is not a crime. You might have bought one flat for your use and another for your parents or in-laws or your kids. Why would a judge in a court bother about that? Courts don't treat "investors" and "end-users" differently. I am speaking from experience.
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  • Originally Posted by ThePunjabi
    You are wrong.

    Don't assume anything without speaking to a lawyer.

    It appears you have never seen the proceedings in a court. I'm talking about a proper court and not the court you saw in that movie Jolly LLB. :)

    Buying one property for self use another in the same project for say rental income is not a crime. You might have bought one flat for your use and another for your parents or in-laws or your kids. Why would a judge in a court bother about that? Courts don't treat "investors" and "end-users" differently. I am speaking from experience.

    There is no segregation in court, if you have one or more properties in same project or with same builder. Ultimately, it is your own hard earned money for which you are fighting a case. It does not change claim for refund, interest and even some more claim clauses (which lawyer can help to add...)
    If one is an investor, court does not give liberty to builder to screw your money. It could make more sense on economy of court proceedings, in additional will bring more weightage to the case, if there combined case is filed by 3-4 or more buyers.
    One point is difficult to understand, as what is Jaypee upto by keeping these towers standing tall but not finished and handed over to buyers. Just a crazy thought, are they looking to pass on the finishing works also to come buyer?
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  • Originally Posted by Venkytalks
    Going legal = return of money with interest (12 or 18%).

    You can probably request it from the management and get it at 12% without any legal case

    Nothing of this sort is happening.... I am sure there will be long queue outside JP office to avail such an offer....
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