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 all, I have been reading IREF for some weeks now and am interested to buy a unit in Kosmos. However i have a few suggestions to seek for members here before a finalise:

    kosmos, despite its advantages, is cheaper than its peers today perhaps because of JP's financial health. Now, if we assume that it deteriorates, how will it impact wishtown. Here i am just trying to understand risks and worst case scenarios. Especially:

    1. how will it affect completion of the project i.e. other towers? And supposedly I live in a completed tower, surrounded by many construction towers, how will it affect my space and quality of life?
    2. How will it impact the maintenance and its charges of the society?
    3. If the builder fails to pay the lease amount due to authority - how will it impact the flatowners.

    Please also address other issues that i may not have especially asked but is related to impact on RTM flat owners of wishtown if JP fails. Worst case scenarios to assess maximum risks. Thanks to all!
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  • goto magicbricks

    goto
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  • Where is Abhinav? Aakho Dekha Haal Dene waale the sahab....
    Construction full speed... work going on 24X7.... Labour at max strength... Abhinav Ji aap ko toh PMO mein hona Chahiye... Itne Lambe vaade toh woh bhi nahi karte!!!!

    My challenge is still on... Show me good strength of labour in any of the projects mentioned by me.. Open Challenge!!!

    Showing pictures of golf course and view from your balcony does not take away the pain of all the flat owners who are far far away from posession unlike you.

    I must say , im happy for you, you were lucky you got a good product.. But you're just rubbing it in everyones face. Take it easy bro. We all know what reality is.
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  • Originally Posted by swatiMishra
    Hi all, I have been reading IREF for some weeks now and am interested to buy a unit in Kosmos. However i have a few suggestions to seek for members here before a finalise:

    kosmos, despite its advantages, is cheaper than its peers today perhaps because of JP's financial health. Now, if we assume that it deteriorates, how will it impact wishtown. Here i am just trying to understand risks and worst case scenarios. Especially:

    1. how will it affect completion of the project i.e. other towers? And supposedly I live in a completed tower, surrounded by many construction towers, how will it affect my space and quality of life?
    2. How will it impact the maintenance and its charges of the society?
    3. If the builder fails to pay the lease amount due to authority - how will it impact the flatowners.

    Please also address other issues that i may not have especially asked but is related to impact on RTM flat owners of wishtown if JP fails. Worst case scenarios to assess maximum risks. Thanks to all!


    I dont think there is anything to worry - WT by itself is a massive net asset. Any company would gladly pay and buy this off JP should doomsday come.

    Specifically

    1. Pls buy in completed tower which in turn has near complete towers around u - its not like JP is going down tomorrow. If the outlook is of extreme caution (not a bad thing in todays time and age) - come back after 1 year when 80% of Kosmos is delivered. Max to max u may pay a little xtra but safety is assured

    2. Maintainence in any case will be taken up by the RWA in future for society. Common areas/services for WT is JPs perogative they will source it to a set of professional agencies for which the RWAs (ultimately end user) will pay. (Assuming JP has gone down)

    3. There is no lease due - unlike other builders - WT land belongs to JP (long term lease) - which was 'given' by NA as a part exchange to create YEW (purely on ownership of land this is the safest option in Noida - vetted by SC)

    I think in Kosmos - risk is 99% acceptable but if you are ultra conservative - no harm in ignoring things for 1 year and coming back

    Why dont u take Kosmos on rent fr 1 year - see society at close quarters and decide if it is what u want
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  • Thank You so much Dinesh! I look forward to other views as well.

    Also, what is the rent for kosmos? Without NGT issue resolved, are people putting it up for rent?
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  • Originally Posted by swatiMishra
    Thank You so much Dinesh! I look forward to other views as well.

    Also, what is the rent for kosmos? Without NGT issue resolved, are people putting it up for rent?


    at current scenario there is no one who is paying off and taking possession for rent , in klassic and kosmos all people who have taken possession are living themselves so no point of talking about rental , once NGT resolved there will be plenty of rental flats available as close to 2000 flats in kosmos will be ready to be occupied
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  • Originally Posted by dineshsays
    I dont think there is anything to worry - WT by itself is a massive net asset. Any company would gladly pay and buy this off JP should doomsday come.

    Specifically

    1. Pls buy in completed tower which in turn has near complete towers around u - its not like JP is going down tomorrow. If the outlook is of extreme caution (not a bad thing in todays time and age) - come back after 1 year when 80% of Kosmos is delivered. Max to max u may pay a little xtra but safety is assured

    2. Maintainence in any case will be taken up by the RWA in future for society. Common areas/services for WT is JPs perogative they will source it to a set of professional agencies for which the RWAs (ultimately end user) will pay. (Assuming JP has gone down)

    3. There is no lease due - unlike other builders - WT land belongs to JP (long term lease) - which was 'given' by NA as a part exchange to create YEW (purely on ownership of land this is the safest option in Noida - vetted by SC)

    I think in Kosmos - risk is 99% acceptable but if you are ultra conservative - no harm in ignoring things for 1 year and coming back

    Why dont u take Kosmos on rent fr 1 year - see society at close quarters and decide if it is what u want


    Just needed a few clarifications on what you said.

    Do you mean that since WT land was given to JP - it has no lease loan to pay and has not mortgaged any part of the project - at least till now? Supposedly if JP falls, they will themselves sell the project or the banks will auction it to pay of debt - so in later case - will there be any implication on flat owners? In such big projects on leasehold land held by builder - how are the rights and liabilities of owners and builders demarcated?

    After how much time of completion is the maintenance taken over by RWA or is the builder going to be a forever presence in WT and others?
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  • Originally Posted by swatiMishra
    Just needed a few clarifications on what you said.

    Do you mean that since WT land was given to JP - it has no lease loan to pay and has not mortgaged any part of the project - at least till now? Supposedly if JP falls, they will themselves sell the project or the banks will auction it to pay of debt - so in later case - will there be any implication on flat owners? In such big projects on leasehold land held by builder - how are the rights and liabilities of owners and builders demarcated?

    After how much time of completion is the maintenance taken over by RWA or is the builder going to be a forever presence in WT and others?


    Underwriters have paid up money to JP and first lien on the project - until possession is offered is typically theirs.

    Therefore please buy an RTM unit where OC is there, possession is clearly offered and lease deed can be registered

    I am unsure on the timelines of the RWA - wouldnt want to speculate
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  • Plan to meet

    Dear Friends, This is with regard to our discussions about a short meeting at WT. I will not be available this Saturday as I am traveling to the factory. However, you guys do carry on and post pics. That will be great.

    If this Saturday is not possible: I propose lets fix up for the 20th of March in the evening at 5 pm. Location: Outside Kalypso towers 1 and 2. If some are not available so be it. Let the rest continue. Await your comments.
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  • Originally Posted by Poddarvaib
    Dear Friends, This is with regard to our discussions about a short meeting at WT. I will not be available this Saturday as I am traveling to the factory. However, you guys do carry on and post pics. That will be great.

    If this Saturday is not possible: I propose lets fix up for the 20th of March in the evening at 5 pm. Location: Outside Kalypso towers 1 and 2. If some are not available so be it. Let the rest continue. Await your comments.

    Yes - I can come 20th evening 5 pm. Hope a few folks can join in.
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  • Originally Posted by dineshsays
    Yes - I can come 20th evening 5 pm. Hope a few folks can join in.

    I am in......
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  • That would be a smart choice, if not 1 year, wait at least till NGT is over and the market should get a good supply of apartments for rent & for buying.

    After an year the outer(mini golf side) Kosmos would be close to delivery, while i bought in the inner park facing(paid PLC :( ) which would get delivered first, the village/yamuna facing apartments might be a better option in my opinion(higher floors).

    if you are looking within Wishtown and are open to taking risk then moving to KB might be an option(expect delays though!)


    Originally Posted by dineshsays
    I dont think there is anything to worry - WT by itself is a massive net asset. Any company would gladly pay and buy this off JP should doomsday come.

    Specifically

    1. Pls buy in completed tower which in turn has near complete towers around u - its not like JP is going down tomorrow. If the outlook is of extreme caution (not a bad thing in todays time and age) - come back after 1 year when 80% of Kosmos is delivered. Max to max u may pay a little xtra but safety is assured

    2. Maintainence in any case will be taken up by the RWA in future for society. Common areas/services for WT is JPs perogative they will source it to a set of professional agencies for which the RWAs (ultimately end user) will pay. (Assuming JP has gone down)

    3. There is no lease due - unlike other builders - WT land belongs to JP (long term lease) - which was 'given' by NA as a part exchange to create YEW (purely on ownership of land this is the safest option in Noida - vetted by SC)

    I think in Kosmos - risk is 99% acceptable but if you are ultra conservative - no harm in ignoring things for 1 year and coming back

    Why dont u take Kosmos on rent fr 1 year - see society at close quarters and decide if it is what u want
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  • Market grapevines

    Four large PE players to acquire 49% stake in JP associates NOIDA project for 18k cr, deal is in final stages and could be announced this week.

    ???
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  • Originally Posted by caplayer2012
    Market grapevines

    Four large PE players to acquire 49% stake in JP associates NOIDA project for 18k cr, deal is in final stages and could be announced this week.

    ???

    Hmmmm.....thats some development if it happens. Its sounding very high at the outset. 70-80% is already sold.

    What is left is probably space for 5 - 10k high end GC apartments. And 20% collections for already sold apartments.

    On flip side are pending construction and marketing costs. Lets see - will be great to get some capital infusion in JP WT.
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