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 firstimebuy
    So, all the high end products - Villas, townhomes etc. are ready before the others. Maybe the rich and influential have a higher say in the way jaypee has managed this project.

    Is the posession for the golf plots , savana, hazel villas etc been given? And what about KP1 and KP 2


    Hi - no - dont read too much into this - dont make conspiracy theories when none exist. JP has uniformly delayed irrespective of high end or low end products. Most Villas that are ready - Kalisto etc, were among the very first launches in WT and much smaller in scale and hence being delivered. The Savana, Hazel Villas are the golf plots itself (no Villas as I understand) have been ready and handed over long time back - 2-3 houses are also built by people in those plots.

    The most delayed projects in WT are easily Imperial and Kalypso which you will agree are for the fairly wealthy. If anything - Kosmos, Klassic, Kasa have been done much faster. Even for Kasablanca and Kristal etc (expensive ones) - nothing much has happened for last 2 years. Even Pebble Court and Boomerang Residency (Ultra premium ones) have been massively delayed

    KP1 and KP2 also have been handed over since a year and a half but people havent started constructing houses yet
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  • Originally Posted by dineshsays
    On Venky's point - I was reading the T&Cs from the PAL (128 projects) and read the following, page 16:

    (a) The Applicant / Allottee shall be entitled to cancel the Allotment only on default of the Company to deliver possession of the Said Premises within the stipulated period as mentioned hereinabove and within the further period three months thereafter . Upon expiry of stipulated period and upon the request of the Applicant/Allottee, the Company shall refund the amount as had been received from the Applicant/Allottee alongwith simple interest at the rate of 12% per annum (subject to deduction of tax as applicable).
    16(b) If the Applicant / Allottee, for any other reason, requests the Company to cancel the Allotment in his favour, the Company may permit such cancellation on the terms and conditions as the Company may deem fit.

    Interesting - has anyone actually tried this?

    Hi dinesh

    Where I can c dis clause for cancellation

    Its not in PAL I suppose
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  • Originally Posted by dhinkachika
    Hi dinesh

    Where I can c dis clause for cancellation

    Its not in PAL I suppose


    One of the PAL I saw on JP website - I assumed it is the same PAL we all used. It was on page 16
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  • Originally Posted by dineshsays
    One of the PAL I saw on JP website - I assumed it is the same PAL we all used. It was on page 16

    I am unable to trace it

    If u don't mind can u pls paste d link if possible
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  • I got it

    Its in application form
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  • Originally Posted by dhinkachika
    I am unable to trace it

    If u don't mind can u pls paste d link if possible


    Oh - my bad, it is on the application form not PAL :(

    http://jaypeegreens.com/noida/applicationForm/Application-Form-Apartment-JAL-128.pdf
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  • Kosmos and Klassic towers seems to have accerelated quite a lot in last 5-6 months..I am coming from the perspective of following my own unit in PH2 tower, which started first coat of paint and other things a year back and still doesnt look ready in totality.

    Now I just hope that NGT thing is out of way and we should see a final notification in couple of weeks. Post that assuming JP is dead serious for delivery all these towers across projects should get an OC by Feb or March...

    Originally Posted by dineshsays
    Sure - refer both Kalypso and Imperial - I can make out additional external finishing, windows, paints. KPA - almost all towers are fully plastered which is def good progress, Orchards I count an additional floor on B1 (as a reference) and further filling of tower (blockwork), Boomerang - from piling only last month they have laid the steel for the pile cap, basement columns, Kosmos - 1, 2, 3 apart from a few other have had a coat of final paint, so has 12 and 14 - infact over 10-14 towers look just a couple of months from being fully completed - infact in first 50 towers (which they show on website) - except for Kosmos heights, all are plaster complete - most have primer and paint done. Klassic A7-A10 and then B1, B2, B3, B4 are virtually ready - B2 in fact looks 100% done from the outside.

    PH - all 4 sub projects 1-4 are up, plastered. Even the laggard tower in PH4 is fully structure ready. PH2 looks 2-3 months from possession - with entire PH about a year - 16 months from completion. PC - apart from 5 and 6 and Royale ofcourse - all seem a few months from handover - infact per JP 60% has already been handed over

    Kingswood oriental I think all houses have been plastered and one row painting has commenced. Augusta 1 and 2 are Id say 99% ready, 3, 4, 5 are at max 6 months away. Kalisto townhomes are virtually all ready I think in 3-4 months all possession should be announced

    Elevated townhomes looks as if plastering is done for almost all townhomes and handover should start my Q1-Q2 2016

    Obviously Medical and Admin are ready as well

    Kasa Isles - virtually all towers (save 1 laggard) have structure nearly topped out (1-3 months) and plastering done on most

    KB looks to be 80% topped out, plastering is also commencing in parallel - although 2 years minimum before we see any signs of possession

    I think some focus does look to be back overall...not ideal but a little progress can be seen
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  • progress looks good..Not best but creates rays of hope...Kosmos and klassic superb for finishing and kasa is superb for structure..Krescent is lagging but super speed for towers whose frames are setted up...Oveall feeling is good..Atleast 20 to 30 towers in kosmos and klassic can expect possession in next 6 month..
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  • Originally Posted by dineshsays
    On Venky's point - I was reading the T&Cs from the PAL (128 projects) and read the following, page 16:

    (a) The Applicant / Allottee shall be entitled to cancel the Allotment only on default of the Company to deliver possession of the Said Premises within the stipulated period as mentioned hereinabove and within the further period three months thereafter . Upon expiry of stipulated period and upon the request of the Applicant/Allottee, the Company shall refund the amount as had been received from the Applicant/Allottee alongwith simple interest at the rate of 12% per annum (subject to deduction of tax as applicable).
    16(b) If the Applicant / Allottee, for any other reason, requests the Company to cancel the Allotment in his favour, the Company may permit such cancellation on the terms and conditions as the Company may deem fit.

    Interesting - has anyone actually tried this?

    For anyone who miscalculated his outgo of rent plus EMI or really planned to move in quickly and cannot sustain this much delay they can go for this.

    They can be made to give compound interest of 12% with a bit of threats from lawyer since your home loan is compound interest.

    If you go to court it will be 18% compound. So it is a good compromise by JP to give 12% compound. Also good for buyer because no 3 year delay and no lawyer fees for Lucknow.

    But please note

    1. They will cut 10% TDS and you will have to pay remaining 20% also.

    2. If on loan this will barely clear out your loan repayments. You will get nothing in hand and will probably lose a small 1 or 2%. The interest paid by JP will go as interest to bank only. You get nothing.

    3. If on own money this is a poor option with post tax return of 8%. Only projects for which this exit option exists are sitting on about 10 to 12% compound interest return on CLP payment even after recent price fall of Kosmos to 3600 bsp. Waiting for 1 to 2 years makes better sense. Around 15% compound interest is expected long term after delivery. Less than 15% is impossible. More to about 18% is possible though not probable.

    4. Application to adjust next payment against compensation is another strategy. They are likely to grant on individual basis. Again meant only for those in real trouble and who are ready to threaten legal action with stopping all future payments with lawyer support. Will gain you some 1 lakh (immediately instead of later since its your money anyway with lawyer taking 20000).

    I had seriously evaluated both options. But selling in the market made better sense.

    In any case i had written on IREF for Kosmos and Klassic as value buys recently.

    Buying time is never selling time. So waiting it out is best option.
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  • Originally Posted by nitinitin
    Kosmos and Klassic towers seems to have accerelated quite a lot in last 5-6 months..I am coming from the perspective of following my own unit in PH2 tower, which started first coat of paint and other things a year back and still doesnt look ready in totality.

    Now I just hope that NGT thing is out of way and we should see a final notification in couple of weeks. Post that assuming JP is dead serious for delivery all these towers across projects should get an OC by Feb or March...



    AS FAR AS NGT IN CONCERNED PLEASE CONSIDER IT RESOLVED AND EVEN BASE YOUR DECISIONS ON THAT before others realize this opportunity. An upside is guaranteed as soon this news hits the larger audience.

    You can hold me on this :) :) wait for early next year.
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  • Originally Posted by Venkytalks
    For anyone who miscalculated his outgo of rent plus EMI or really planned to move in quickly and cannot sustain this much delay they can go for this.

    They can be made to give compound interest of 12% with a bit of threats from lawyer since your home loan is compound interest.

    If you go to court it will be 18% compound. So it is a good compromise by JP to give 12% compound. Also good for buyer because no 3 year delay and no lawyer fees for Lucknow.

    But please note

    1. They will cut 10% TDS and you will have to pay remaining 20% also.

    2. If on loan this will barely clear out your loan repayments. You will get nothing in hand and will probably lose a small 1 or 2%. The interest paid by JP will go as interest to bank only. You get nothing.

    3. If on own money this is a poor option with post tax return of 8%. Only projects for which this exit option exists are sitting on about 10 to 12% compound interest return on CLP payment even after recent price fall of Kosmos to 3600 bsp. Waiting for 1 to 2 years makes better sense. Around 15% compound interest is expected long term after delivery. Less than 15% is impossible. More to about 18% is possible though not probable.

    4. Application to adjust next payment against compensation is another strategy. They are likely to grant on individual basis. Again meant only for those in real trouble and who are ready to threaten legal action with stopping all future payments with lawyer support. Will gain you some 1 lakh (immediately instead of later since its your money anyway with lawyer taking 20000).

    I had seriously evaluated both options. But selling in the market made better sense.

    In any case i had written on IREF for Kosmos and Klassic as value buys recently.

    Buying time is never selling time. So waiting it out is best option.


    Thanks for the calculations -

    Just reiterating the same thing I said earlier about cancellations, I have already actioned what you have been saying but its of no use, with lawyer, without lawyer doesn't make a difference to the management.

    The new angle that Dinesh has brought in may only apply to sector 128 but let me check my application form for sector 129. I do have the copy I signed.
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  • Originally Posted by Aviral79
    Thanks for the calculations -

    Just reiterating the same thing I said earlier about cancellations, I have already actioned what you have been saying but its of no use, with lawyer, without lawyer doesn't make a difference to the management.

    The new angle that Dinesh has brought in may only apply to sector 128 but let me check my application form for sector 129. I do have the copy I signed.

    Its same in case of both jal n jp infra

    Both have dis clause
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  • Originally Posted by dhinkachika
    Its same in case of both jal n jp infra

    Both have dis clause



    The last line - requests the Company to cancel the Allotment in his favour, the Company may permit such cancellation on the terms and conditions as the Company may deem fit.

    So this is as per management discretion... as far I know there are several approved pending for funds dispersion but it isn't happening..... forget about new cases.... TRY it if someone can. So really... legal is only way to get your money out if you want to..
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  • Originally Posted by Aviral79
    The last line - requests the Company to cancel the Allotment in his favour, the Company may permit such cancellation on the terms and conditions as the Company may deem fit.

    So this is as per management discretion... as far I know there are several approved pending for funds dispersion but it isn't happening..... forget about new cases.... TRY it if someone can. So really... legal is only way to get your money out if you want to..


    Aviral - dont think you are reading this right. That is an independent point i.e. if you want to cancel the allotment for any OTHER reason (besides delay) - then ONLY the company MAY permit etc etc. The first clause is independent and they dont write it MAY choose to cancel etc etc, I dont think the rider you've highlighted is applicable in case of delays

    I am re-posting the 2 sub-clauses. Thoughts?

    Also, I am unsure - you earlier said this is impossible (refunds with interests) and also state in above post this is pending in some cases. I dont doubt what you say (whatsoever) but could you give further clarity if you know the exact situation
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  • Originally Posted by dineshsays
    Aviral - dont think you are reading this right. That is an independent point i.e. if you want to cancel the allotment for any OTHER reason (besides delay) - then ONLY the company MAY permit etc etc. The first clause is independent and they dont write it MAY choose to cancel etc etc, I dont think the rider you've highlighted is applicable in case of delays

    I am re-posting the 2 sub-clauses. Thoughts?

    Also, I am unsure - you earlier said this is impossible (refunds with interests) and also state in above post this is pending in some cases. I dont doubt what you say (whatsoever) but could you give further clarity if you know the exact situation



    Yup, had just read the point the second point that you posted earlier and missed the first. Nevertheless these guys are not doing it..... That much I know .... Hv been banging my head against walls for past few months. May be The approved cases are of pre cdr era... When jaypee was able to fund and service its interest on loans... Not any more .... After corporate debt restructuring it is evident that funds are tight. This is practical situatIon I am telling
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