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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  • Dear All,
    Knightscourt Buyers Association filed case against JP at NCDRC and had first hearing today.
    Court approved all requests what requested in the interim order by KCBA. And sent notice to JP to revert in 45 days.
    Battle is on...

    Yash..
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  • Originally Posted by t_yash
    Dear All,
    Knightscourt Buyers Association filed case against JP at NCDRC and had first hearing today.
    Court approved all requests what requested in the interim order by KCBA. And sent notice to JP to revert in 45 days.
    Battle is on...

    Yash..


    Great! Wish you good luck and a speedy justice!

    How many buyers have got together and filed this case in NCDRC?
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  • Originally Posted by t_yash
    Dear All,
    Knightscourt Buyers Association filed case against JP at NCDRC and had first hearing today.
    Court approved all requests what requested in the interim order by KCBA. And sent notice to JP to revert in 45 days.
    Battle is on...

    Yash..


    Thanks for posting valuable updates? Can you please let me know when is the next kcba meeting? also if possible would like to speak to you.
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  • Originally Posted by Shaurya29
    Coming across gentlemen .... Dinesh Bhai ...:bab (59): I get almost 3/4 calls everyday ... tone is like this ... Sir Sell your unit now, price going to crash ... you will be in deep shit ...

    When, I ask why you want to buy falling knife .... No answers !!!

    Height is that all brokers assume sellers/buyers are plane jokers .... :bab (59):

    or they are preparing inventory for good days ahead ....

    My guess.. They are neither getting sellers at low rates which buyers want...nor are they getting buyers at the high rates which sellers want... Ultimate sufferers are these brokers... No sale, no commission..
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  • I agree with this - because of low sales volumes brokers are getting absolutely hammered.

    Its the internet cos making a killing because of taking upfront money for premium ads and desperate builders wanting to advertise.
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  • Dinesh Bhai,

    Long time no see.

    I was thinking about the whole situation at Wish town and would like to summarize as follows.

    Eg: Kalypso court Vs ATS OH: Both have no OC but ppl are eager to move into OH coz everything is functional. The club is operational, the security is tight and occupancy is on a boost. Prices are reflective.

    KT, even though a superior product fundamentally, livability is poor and one sees no movement in people wanting to move in. In fact using the NGT ruling I feel that even those who have been offered possession are not taking possession and moving in. Again prices are reflective and are stagnating.

    Hypothetically speaking : Now if ATS offers its customers a 12 or 15 or 18 percent interest paid on their deposit for canceling their flats customers wont go for it but if JP does customers will go for it. Imagine a situation with KGT group or Orchards group: If the courts order JP to refund money with 12% interest a lot of customers will take the money and run. I would exercise this option for my apartment in OC.

    Add to this general stagnation in real estate prices and customers becoming more proactive and connected on various media platforms. Take money with interest and scoot option will become extremely lucrative as this will be more lucrative than actual return.

    JP needs to pull up its socks or these delays will hammer them in more ways than what we are seeing currently.
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  • Originally Posted by Shaurya29
    Coming across gentlemen .... Dinesh Bhai ...:bab (59): I get almost 3/4 calls everyday ... tone is like this ... Sir Sell your unit now, price going to crash ... you will be in deep shit ...

    When, I ask why you want to buy falling knife .... No answers !!!

    Height is that all brokers assume sellers/buyers are plane jokers .... :bab (59):

    or they are preparing inventory for good days ahead ....






    1. Even the Lowest category of Executives in any decent Broker company will NEVER use such statements as u are writing

    2. Any Decent Broker company in a region like Noida ..prepares Good inventory at time of PRE LAUNCH.....not when 90% payments gone and Investments on tight rope. As once possesion is offered..and Buyer doesnt do registry...then he has to pay Holding charges....and No broker in right frame of mind will get a flat in a region like Noida get registered

    3. When a Transfer take place...it takes place in Physical presence of the Buyer .... who in most resale cases in noida has taken bank loan....etc etc....Assuming that Broker is so desperate to buy a property that he FAKES everything..and poses as some Service class guy seeking a house for use...BUT ONLY a Moron Broker will apply for loan for Resale flat.....to buy as "Inventory"

    4. Maximum commission is Not derived from resale...BUT...Selling New launches....the commission is High....everything is hassle free....direct and easy payment from builder....No nonsense...Hardly any paperwork.....and there is NO DIRTH Of projects available DIRECT FROM BUILDERS in the region.
    Just visit brokers and see how they will be mre interested to sell you DIRECT from builder rather than RESALE...resale is headache....and is not prefferred by most broekrs in noida region.

    5. Noida is NOT the only region where Brokers have Projects to sell....All all brokers of the region have presence in Noida extension, Noida 7x, Greater Noida main , yamuna expressway and EVEN Ghaziabad



    YES.....Sales have Dropped.....But Remember.....When Sales were high...the same Brokers had Minted CRORES from buyers and INVESTED in safer Avenues themselves.

    You will hardly find Brokers having their own money invested in Flats in Noida, at this level

    MAJORITY Brokers Pick up Best invesntories Before pre launch....and then move out once Max 30% payment done / or whenever Trasnfer is Open.....


    LONG TERM HOLDINGS of Brokers are in:

    Plots
    Shops

    NOT IN FLATS which are due for possession in a years time !!!!!!!
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  • The broker I bought Kalypso from bought 3 penthouses in Jaypee and himself stays in the apartments in 44.
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  • It is general misconception that brokers are the gurus and make all the right moves when it comes to investing in real estate. They are just as gullible and prone to making mistakes as we are.

    Being part of an unregulated industry they have the advantage of insider trading which we don't and thereby seem smart. If only there was a SEBI like organization to tighten the screws.
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  • I agree with both ur points Poddar bhai. Completely!
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  • Originally Posted by zohaib2012
    1. Even the Lowest category of Executives in any decent Broker company will NEVER use such statements as u are writing

    2. Any Decent Broker company in a region like Noida ..prepares Good inventory at time of PRE LAUNCH.....not when 90% payments gone and Investments on tight rope. As once possesion is offered..and Buyer doesnt do registry...then he has to pay Holding charges....and No broker in right frame of mind will get a flat in a region like Noida get registered

    3. When a Transfer take place...it takes place in Physical presence of the Buyer .... who in most resale cases in noida has taken bank loan....etc etc....Assuming that Broker is so desperate to buy a property that he FAKES everything..and poses as some Service class guy seeking a house for use...BUT ONLY a Moron Broker will apply for loan for Resale flat.....to buy as "Inventory"

    4. Maximum commission is Not derived from resale...BUT...Selling New launches....the commission is High....everything is hassle free....direct and easy payment from builder....No nonsense...Hardly any paperwork.....and there is NO DIRTH Of projects available DIRECT FROM BUILDERS in the region.
    Just visit brokers and see how they will be mre interested to sell you DIRECT from builder rather than RESALE...resale is headache....and is not prefferred by most broekrs in noida region.

    5. Noida is NOT the only region where Brokers have Projects to sell....All all brokers of the region have presence in Noida extension, Noida 7x, Greater Noida main , yamuna expressway and EVEN Ghaziabad



    YES.....Sales have Dropped.....But Remember.....When Sales were high...the same Brokers had Minted CRORES from buyers and INVESTED in safer Avenues themselves.

    You will hardly find Brokers having their own money invested in Flats in Noida, at this level

    MAJORITY Brokers Pick up Best invesntories Before pre launch....and then move out once Max 30% payment done / or whenever Trasnfer is Open.....


    LONG TERM HOLDINGS of Brokers are in:

    Plots
    Shops

    NOT IN FLATS which are due for possession in a years time !!!!!!!


    Broker hurt hua :bab (59): New Launch market is dead for sure ... for years to come ... Lakhs of people have burnt their hands .... Builder's greed has killed golden egg laying goose .... If lucky (I mean really lucky) they will only be dealing with RTM flats only .... Social Media e.g. IREF, FACEbook, yahoo, google, 99acres, magic bricks has increased awareness many folds ... recently a friend of my mine moved to Gurgaon from abroad ... he used 4 bifferent brokers for research only (for free) ... but he found genuine seller on facebook group directly .... people have become smarter....
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  • Originally Posted by dineshsays
    The broker I bought Kalypso from bought 3 penthouses in Jaypee and himself stays in the apartments in 44.



    1. kalypso is amongst the 5% HIG segment projects in noida NOT 95% MIG segment oversupply

    2. Cannot compare jaypee mig project with hig segments like kalypso and row houses

    3. ur broker has obviously a good holding powrr and is holdibg on to a product which is not oversupplied

    any investor will keep demand and supply in mind
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  • Originally Posted by Shaurya29
    Broker hurt hua :bab (59): New Launch market is dead for sure ... for years to come ... Lakhs of people have burnt their hands .... Builder's greed has killed golden egg laying goose .... If lucky (I mean really lucky) they will only be dealing with RTM flats only .... Social Media e.g. IREF, FACEbook, yahoo, google, 99acres, magic bricks has increased awareness many folds ... recently a friend of my mine moved to Gurgaon from abroad ... he used 4 bifferent brokers for research only (for free) ... but he found genuine seller on facebook group directly .... people have become smarter....




    1. Every Builder of this Belt is waiting for the "Proposed Trigger" for which they have been paying sarkar for so long to "Launch" their projects....Once the "Proposed Metro'' Boards are put up (irrspective of whether it will complete or not)...will allow builders to Push the Launches

    2. 500 Acres of land after 143 is already sold to Builders and they havent Bought it to Do farming.....that area is middle of nowhere...just a few boards here and there of "Proposed Metro" and they will launch. Just wait and watch.

    3. NGT issue will ALSO be resolved around same time....all this drama is to help builder lobby and Big Time Investors

    4. Lakhs of people have burned their hands before also......Entire Greater Noida was sold on Proposals....Thousands of Plots on yamuna expressway were sold in middle of nowhere.....its just that YOU are new in RE.....RE is Not New in this region.

    5. Like no one talks about Existing RTM societies in Noida of societies which were built pre 2008.....even in virtual world..inspite of being cheaper and better located...After some years...No one will be talking about Pre 2010 projects....ONCE Flats are registered...they are LITERALLY OUT of Resale market

    6. People Buying 2009-2011 all over noida also considered themselves Very smart....it was not decades ago....Just click on any Link and see the posts in that time....Buyers considereed themselves like Kings.....Making fun of other projects....Phrases ike Buses are missed etc etc was used all over....

    Now ???

    Same junta is seen incrasing the business of chaiwalas and now ice cream walas outside the same builders whom the literally worshipped.....and the same builders and even their chaprasis laughing at them....


    Broker ????

    He is Neither Buyer Nor Seller...He made his money and will make anyways

    Brokers minted money before noida extension also....and will make money after yamuna expressway also...

    there will always be new areas...new launches....new projects...only areas will change


    Its amusing that you think that Brokers can ONLY make money in Noida ????

    Do the buyers in Ghazaibad, noida extension or yamuna expressway or even Meerut..DONT PAY Commission ?????


    The problem with EXISTING Investors like you in a Flop Builder project who lured you with his Dreams and Marketing Mumbo Jumbo...is that You are too engrossed in your builder and project and unable to see whats happening everywhere else

    It was people like you who were Not convinced when I had written all over this forum in 2012 to EXIT NOIDA MARKET.......Now you are stuck....stuck badly...

    You WONT find a Buyer who can give you profits

    You WONT get a project by the Builder who promised you the moon

    Basically you failed as a End user...as well as an Investor....

    and thats called frustration.....which is evident here.


    2009 - 3000 psf all incl

    2016 - Even if it reaches 6000 psf all incl

    ITS A FLOP INVESTMENT.....

    End user ?????....High density concrete jungle and high maintenance costs...RWA fights...Line for Lifts and Seepages await....

    Enjoy

    (PS: I had to get personal as you initiated it...if you continue....I too shall....)
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  • Buyers don't feel like buying if there's so much to buy. Limited quantity and supply in front of his eyes makes him more confident that there's genuine demand in market. Now it must be like, Broker- Sir tell us what u want we will give you 3 options of same.
    Too much of a buyers market scares away buyers ;

    Sellers have holding power to hold but they are suffering due to loss aversion and time value of money.
    Loss aversion is avoiding selling bellow market price when they know they can hold.
    Time value is inflation eating their money and if if prices are stable for 2 years than they are down 16%.

    Seller has an advantage to reduce price by 100-200 sqft below market to get a product sold if he knows he can put it in debt and get back the loss in 2 months time. It beats waiting 8 months while still demanding same rate. Thats the real loss for him.

    On a separate note, Jaypee has defaulted on it's FDs(for some examples JP ASSOCIATES/FIXED DEPOSIT Complaints) and April 30 is a big day for Jaypee to refund defaulters as per CLB order ( https://www.indianrealestateforum.com/forum/other-forums/general-real-estate-discussion/719-what-going-in-capitalization-rates-are-available-today?p=1100#post719)
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  • Originally Posted by hisaysarpita
    Great! Wish you good luck and a speedy justice!

    How many buyers have got together and filed this case in NCDRC?

    Thanks... 100+ members of KnightsCourt owners and 50+ took legal route...

    Originally Posted by kcqueue
    Thanks for posting valuable updates? Can you please let me know when is the next kcba meeting? also if possible would like to speak to you.


    9th May 11:00 AM. Pls PM me your number...
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