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 abhinav_2325
    Otherwise I will post pictures from today


    pls post
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  • Hi Abhinav

    Could you post pictures to see if plastering/finishing is actually happening in Kensington Boulevard? I am really worried about delivery of this project as I bought it 5 yrs back.

    Regards
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  • Ok, I will go out to take pics today.
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  • Originally Posted by prop_newbie
    Hi Abhinav

    Could you post pictures to see if plastering/finishing is actually happening in Kensington Boulevard? I am really worried about delivery of this project as I bought it 5 yrs back.

    Regards


    I visited Kensington Boulevard yesterday bro..... It was a sunday so the labour may be lesser than weekdays, not sure... But work was indeed very slow... Almost all towers have topped out but plaster work is happening very slow. I could see door frames kept in piles on the ground. So maybe they will start putting them soon. Spoke to some labour and also the guard at the site. Said that jaypee delays payments so work is slow. Be prepared for another 2 years atleast.
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  • Knights court was has changed quite a lot since my last visit 3 months back. Plaster work was advanced and number of laborers deployed was decent. I could also see paint being applied in some towers. window and door frames were also installed.
    Pavillion court and heights look very nice and will come up beautifully.
    Kalypso will give posession of about 4 towers in few months. Rest will take time as paint and finishing has yet to start. I didnt like the colour scheme of the towers. My POV.
    Imperial will also take some time as finishing will take time.

    All in all. Things are not still rosy and a LOT needs to be done. But if jaypee manages to give posession in Klassic, Kosmos, Kalypso in next 3-4 months sentiments should improve. Id still watch from the sidelines till things become better.
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  • Fair point - nothing is running away yet - but one should set objective criteria till when should one remain on the sidelines - (for any builder). India growth story is intact - Oil being low means fundamentally as a consumer nation we have more to spend - the most linkages we have is to the US - which is looking up after many years. Modi is making the right noises, Urbansiation is up, prices have fallen 15% from highs - translating to 25% considering interest/opportunity costs, interest rates are poised to fall - and on a lesser macro front - work is continuing (albeit slowly), liquidity and cash flow should improve

    Quoting the graphic Arpan put across - https://www.indianrealestateforum.com/forum/other-forums/nri-real-estate/1794-investment-opportunities-for-foreigners?p=117180#post117180 - this is a great indicator of cycles, of our response to them and how really we should approach them

    And just now - while I'm not prepared to stick my neck out just now that the bottom has been achieved - I do think we are not TOO FAR from it

    Point being - one can wait on the sidelines but be clear as to what indicator (macro/micro/combine) would you like met before your react - and once achieved - I would say - go for it - cherry pick your unit/project and get it done with
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  • 2 years is the minimum. It could be 2017-18 if Jaypee gets their act together about possession.


    Originally Posted by firstimebuy
    I visited Kensington Boulevard yesterday bro..... It was a sunday so the labour may be lesser than weekdays, not sure... But work was indeed very slow... Almost all towers have topped out but plaster work is happening very slow. I could see door frames kept in piles on the ground. So maybe they will start putting them soon. Spoke to some labour and also the guard at the site. Said that jaypee delays payments so work is slow. Be prepared for another 2 years atleast.
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  • Sorry I was busy today and couldn't take pics.
    But work was on.specific towers in imperial kalypso and all towers of pavilion heights and knight's court - work was on with fair number of workers.
    Will take pics tomorrow
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  • Originally Posted by firstimebuy
    Knights court was has changed quite a lot since my last visit 3 months back. Plaster work was advanced and number of laborers deployed was decent. I could also see paint being applied in some towers. window and door frames were also installed.
    Pavillion court and heights look very nice and will come up beautifully.
    Kalypso will give posession of about 4 towers in few months. Rest will take time as paint and finishing has yet to start. I didnt like the colour scheme of the towers. My POV.
    Imperial will also take some time as finishing will take time.

    All in all. Things are not still rosy and a LOT needs to be done. But if jaypee manages to give posession in Klassic, Kosmos, Kalypso in next 3-4 months sentiments should improve. Id still watch from the sidelines till things become better.


    Please don't speculate for KnightsCourt......
    We owners have monthly meeting with the management to evaluate construction progress.... No progress in construction as compared to schedule given to us... Way WAY DELAYED.....

    Structural work still pending in T-8
    Block work still pending in T4-T8
    Internal Plaster still pending in each of the 8 towers
    External Plaster: activity is in T1 & T2, padding in T3... nothing in T4-T8
    Plumbing in T1 only...
    Flooring not started yet...
    Forget about paint and other things....

    Sample flat build as per our request is pathetic, cutting corners everywhere in the finishing items...

    JP deployed only 100-120 Labours at KnightsCourt when it require at least 1000 to deliver as promised in July-Aug 2015...
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  • Originally Posted by t_yash
    Please don't speculate for KnightsCourt......
    We owners have monthly meeting with the management to evaluate construction progress.... No progress in construction as compared to schedule given to us... Way WAY DELAYED.....

    Structural work still pending in T-8
    Block work still pending in T4-T8
    Internal Plaster still pending in each of the 8 towers
    External Plaster: activity is in T1 & T2, padding in T3... nothing in T4-T8
    Plumbing in T1 only...
    Flooring not started yet...
    Forget about paint and other things....

    Sample flat build as per our request is pathetic, cutting corners everywhere in the finishing items...

    JP deployed only 100-120 Labours at KnightsCourt when it require at least 1000 to deliver as promised in July-Aug 2015...

    I thought it was paint work going on... but now when i think about it maybe it was putty being applied.
    Sorry
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  • A developer is liable to pay a penalty, refund the entire sum or foot rent if he fails to deliver on time

    Acommon man invests his hard-earned money to purchase a house of his own. After regularly paying easy monthly installments for buying the property and living in a rented property because of delay in possession is a mental and monetary burden. The National Consumer Dispute Redressal Commission in its decision of 2013 addressed this issue in a particular case.
    THINKSTOCK The complainant had booked an apartment in a residential project in Gurgaon on the assurance by the developer that the project would be completed by a particular date in 2009. The entire payment was made as per the installment schedule. An agreement was executed between the complainant and the developer and, according to it, the developer was to hand over possession of the apartment to the complainant within 36 months of the execution of the buyer’s agreement. The possession of the apartment was not given even at the time of filing of the complaint in 2012.
    The complainant argued that he had been compelled to take a residential accommodation on rent and pay both installments and rent and had still not received the possession of the apartment. He was thus bearing an additional monetary burden.
    The developer offered to pay a penalty for delay at the rate of Rs 7.50 per square foot instead of Rs 5 per square foot, which was stipulated in the agreement, for the delayed period and also to refund the entire money with interest at the rate of 15% instead of 10%, but no such compromise was arrived at. The commission decided that there was an undue delay in handing over possession of the apaartment despite the developer having taken the entire payment for it. The commission asked the developer to honour its commitment.
    The commission directed that the possession be handed over to the complainant within six months, failing which the developer would have to pay an extra penalty of Rs 25,000 per month.

    The developer was also directed to pay rent and the increased rent of the flat, which the complainant had taken on lease, till possession was given. The commission stopped the payment of penalty for the period of delay as these factors stood covered in the payment of rent to the complainant. The compensation for litigation charges was also granted in favour of the complainant. An appeal against this judgment was filed in the Supreme Court but the developer withdrew it subsequently.
    Though the above case was decided on particular facts and circumstances of the case, but wherever the facts are similar, buyers can pray for similar relief in case of a delay.
    The above judgment comes as a huge relief to many home buyers who are at present living in rented accommodation and are waiting for their homes to be delivered by various developers failing to give possession of the flat.
    Incase developers fail to deliver and there is unreasonable delay, buyers placed in similar situations can seek similar relief before consumer fora. Judgments like these will definitely create pressure on developers to deliver their projects on time and benefit large number of apartment buyers.
    The author is senior partner at Zeus Law, a corporate commercial law firm. One of its areas of specialisations is real estate transactional work. If you have any queries, email us at
    ht@zeus.firm.in

    Source: Hindustan Times dt. 10-Jan-15
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  • Originally Posted by t_yash
    Please don't speculate for KnightsCourt......
    We owners have monthly meeting with the management to evaluate construction progress.... No progress in construction as compared to schedule given to us... Way WAY DELAYED.....

    Structural work still pending in T-8
    Block work still pending in T4-T8
    Internal Plaster still pending in each of the 8 towers
    External Plaster: activity is in T1 & T2, padding in T3... nothing in T4-T8
    Plumbing in T1 only...
    Flooring not started yet...
    Forget about paint and other things....

    Sample flat build as per our request is pathetic, cutting corners everywhere in the finishing items...

    JP deployed only 100-120 Labours at KnightsCourt when it require at least 1000 to deliver as promised in July-Aug 2015...

    Yash - I know how close you are on the ground to reality - I dont think Knight will be offering possession before late '16 - at this rate.

    While I never expect any fireworks in terms of speed with Jaypee - sad to hear they are cutting corners in the sample flat. As Kalypso/PC are quite OK without being steller.

    Would it be possible to share pics of the sample flat. Who were the contractors in Knight - Alhuwalia?
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  • Originally Posted by dineshsays
    Yash - I know how close you are on the ground to reality - I dont think Knight will be offering possession before late '16 - at this rate.

    While I never expect any fireworks in terms of speed with Jaypee - sad to hear they are cutting corners in the sample flat. As Kalypso/PC are quite OK without being steller.

    Would it be possible to share pics of the sample flat. Who were the contractors in Knight - Alhuwalia?


    Yup, that's the reason building pressure on JP to increase the pace with more workforce... and maintain quality as promised while selling the project that it'll be super luxury...
    Ahluwalia is the contractor.. will share the pics of sample flat in the KGT thread shortly..
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  • I am sorry you feel that way. It is better to tell people an honest picture than unnecessary pushing for something you have an investment in. Everyone knows the current poor financial state of Jaypee and projects that are not delivered after more than 8 years. There is no end to it either but someone we are not suppose to look towards that.



    Originally Posted by abhinav_2325
    Please don't misguide people. I live in wishtown and the construction is going on very fast. Everybody can come and check before believing anyone on iref.
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  • Originally Posted by djvjain
    I am sorry you feel that way. It is better to tell people an honest picture than unnecessary pushing for something you have an investment in. Everyone knows the current poor financial state of Jaypee and projects that are not delivered after more than 8 years. There is no end to it either but someone we are not suppose to look towards that.


    what honest picture are you talking about? i posted real pictures with workers on the site. i live here and for the benefit of fellow wishtown mates I post pictures with the wrokers on the site, and you type on keyboard, anybody who has eyes can see that there are more workers on site than there were two months ago, and many towers are reaching completion.
    i openly challenge anyone to come and see the workers in wishtown by themselves. The number of workers have significantly increased. You do not have to believe anyone on iref
    Can anyone have problems with me sharing real wishtown pics with my fellow wishtown mates and others who are interested in wishtown develpments?
    this is why these forums exist. no?

    i am sorry but if you come and take pictures of kalypso/imperial etc you will have workers in your camera too but a pity that you prefer keyboard and i prefer camera.
    hahaa.....
    and by the way..who are you to judge me that i am pushing the projects in which i am invested in?
    I am invested in a 3c project too which is halted, i am invested in raheja revanta which is very delayed , and i never said anything in their favor. why??
    right is right and wrong is wrong
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