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 dineshsays
    So in effect an email from Jaypee confirming date to be beyond what is promised in PAL is enough?

    On the subject Aviral - I had heard - if you hv more than one house in same complex (In this case I hv 2 - Kalypso/KB) - if I complaint then consumer court would declare me an investor not a consumer and not entertain my case - any truth in that?



    Truth enough to take the case into the direction that you are not consumer, once the Court establishes if it does, that you are a consumer then your case starts. So time is wasted which is key. You should confirm this with the Legal group though. Or let me get more clarity.

    I think it's just one PIL That is needed to change the definition.
    After all Indians have huge families with siblings being able to afford seperate flats also fathers distributing his wealth to his inherits.

    Yash, what does lahoty say about this.
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  • Originally Posted by Aviral79
    Truth enough to take the case into the direction that you are not consumer, once the Court establishes if it does, that you are a consumer then your case starts. So time is wasted which is key. You should confirm this with the Legal group though. Or let me get more clarity.

    I think it's just one PIL That is needed to change the definition.
    After all Indians have huge families with siblings being able to afford seperate flats also fathers distributing his wealth to his inherits.

    Yash, what does lahoty say about this.


    If any owner has more then 1 flat and is for personal use, no issue with that..
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  • Originally Posted by t_yash
    If any owner has more then 1 flat and is for personal use, no issue with that..

    Yes. You just have to say the one on which filing case is for personal use.

    If whole group is filing case like with knight court, thsn no problem. Cases will get clubbed.

    For anyone bought at 2012 prices and waiting 3.5 years and tower structure not yet ready, then 18% expected return through court case will outperform returns from property (expected 5% compound interest only) by a wide and massive margin.

    Foolish not to file case.

    Those buying at 4000 psf prices in 2006 and yet to get delivery and only structure ready will also get massive returns at 18% compound interest.

    In another builder case (Ramprastha) for 3bhk bought at 2400 psf (=50 lakhs) in 2008, the present market price is about 3800 psf (=70 lakhs). Unlikely to deliver in 2 years so prices expected to stagnate. But court case will come in 2 years time (NCDRC). Expected award from court = 1.4 crores.

    This is eqyivalent to price of 9300 psf (vs 3800 cirrent prices).

    After clearing loan amount around 60 lakhs will come in buyers pocket.

    Filing case is OBVIOUS choice. Anyone not filing is foolish.

    In my own case of Kosmos, without bank loan expected award is 14% since own money and not bank loan.

    That is prerty much close to my current return at about 13% with present market price. So for me filing case is marginal benefit.

    But from now on for getting 14% return, within 3 years prices have to reach 6000 psf. Which seems very unlikely.

    So for me also filing case is looking better and better as time passes and no construction and prices stagnating at 3600.
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  • Venkat Ji and senior member , I have few query ,appreciate your response on that :
    I bought garden isle on resale last year however as per PAL possession date is oct 2015 (3.5 year from March 2012), can I able to file case in consumer court after oct 15 despite of purchasing unit just one and half year before.

    I have another unit in kesington boulevard bought on fresh, both the unit is for personal use , can I file cases in consumer court for both the unit together ,whether I will be considered under the definition of consumer.

    Thanks in advance
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  • Originally Posted by Surendrathak
    Venkat Ji and senior member , I have few query ,appreciate your response on that :
    I bought garden isle on resale last year however as per PAL possession date is oct 2015 (3.5 year from March 2012), can I able to file case in consumer court after oct 15 despite of purchasing unit just one and half year before.

    I have another unit in kesington boulevard bought on fresh, both the unit is for personal use , can I file cases in consumer court for both the unit together ,whether I will be considered under the definition of consumer.

    Thanks in advance

    Resale purchase should not file case.

    Court will not give anything worthwhile.

    Original booking one can file case.

    It is not advisable to file case for 2 flats together. Court might throw it out.

    People should get together hire lawyer but file individual cases. Same legal notice, same petition, same lawyer but separate cases. This will cut down cost but you will have freedom to withdraw case on individual basis at any time.
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  • Originally Posted by Venkytalks
    Resale purchase should not file case.

    Court will not give anything worthwhile.

    Original booking one can file case.

    It is not advisable to file case for 2 flats together. Court might throw it out.

    People should get together hire lawyer but file individual cases. Same legal notice, same petition, same lawyer but separate cases. This will cut down cost but you will have freedom to withdraw case on individual basis at any time.


    Hi Venky,

    Why do you say that resale purchase should not file case???? Even they are end users as in my case. Why will there point be not considered?
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  • Originally Posted by confusedUser
    Hi Venky,

    Why do you say that resale purchase should not file case???? Even they are end users as in my case. Why will there point be not considered?

    Original purchaser will get compensation at principal plus interest for 5 or 7 or 9 years at 18%.

    But if you bought resale in say 2013 or 2014 - not enough time to get good sum on compound interest. The sum will be so small that you wont cross 1 crore and will have to file in Lucknow.

    But if you bought resale in 2010 then you will get good sum and will cross 1 crore so NCDRC Delhi case can be filed.
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  • Originally Posted by Venkytalks
    Original purchaser will get compensation at principal plus interest for 5 or 7 or 9 years at 18%.

    But if you bought resale in say 2013 or 2014 - not enough time to get good sum on compound interest. The sum will be so small that you wont cross 1 crore and will have to file in Lucknow.

    But if you bought resale in 2010 then you will get good sum and will cross 1 crore so NCDRC Delhi case can be filed.


    What if value does not exceed 1 crore in fresh sale bought in 2010. For that also we have to file in Lucknow. I heard that it can be filed in Noida consumer court even if claim value is less than 1 crore.
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  • Builder has been increasing super area of almost all wishtown projects.
    Did anyone manage to get Form A for verifying if the increase has also been declared to NA

    Deriving super area of flat or floor from Form A | Reviews Suggestions and Utilities
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  • I foresee a lot of muck in the coming days besides. There are several builders who have got land in the installment schemes floated by previous UP regimes and are defaulting on payment to the authority. So far they were hiding behind NGT. As soon as NGT is cleared customers will want to register and several of these builders do not have any funds to pay the authority. Investors/end users in WT will be free from this worry at least.
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  • In complete agreement with Poddarvaib. I am already aware of a couple of builders not getting OC due to defaults in payment.
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  • Boss this whole damn installment scheme was a ridiculous way to part the common man from his money. Builders, politicians, babus, brokers all have made their killing. Its obvious someone is going to get screwed. Who else besides gullible investors like us. (I am personally not invested in Noida other than JAYPEE but I mean as part of the small end user/investor community)
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  • Here is the deal - NA is so corrupt and so much in bed with builders that they have started what is called partial OC - with this - NA keeps giving OC to the point end users can register but will never give final OC until the builder pays up with interest

    See the Omaxe case - registries started - then closed now not happening, the buyers are stuck etc

    Like you all say - this will def create issues sooner rather than later

    Amitexpert had mentioned he had plans to put in an RTI on the matter - I wonder what happened here

    This is ONE area where WT buyers can rest a little easy - underlying land has NO disputes - no ownership / transfer issue
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  • Dinesh Bhai, truly looking at this scenario I literally feel blessed that I did not get into any of these projects. WT though delayed at least there will be no fundamental issues at play.
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  • Originally Posted by Surendrathak
    What if value does not exceed 1 crore in fresh sale bought in 2010. For that also we have to file in Lucknow. I heard that it can be filed in Noida consumer court even if claim value is less than 1 crore.


    NOIDA is for less than 20 lakh amount.

    In theory compensation related case can be filed.

    In practice, no point filing such case - whenever possession is offered you will be forced to withdraw the case because Jaypee wont give you the flat until you withdraw.

    Also, effort involved in fighting such cases is not commensurate with small sums at stake - if you are clearing 1 crore in profits by winning NCDRC case, that is worth the effort. It will be much more than the minuscule profits by selling the booking.

    But if you are only getting some few lakhs in hand after clearing the bank loan and fighting a long case - it is not worth the effort. You are better off holding the flat for 2-3 years.

    After 2-3 years - either delivery will come - so you can sell and make profit - or Jaypee will default - at which point you can file a massive claim in NCDRC and make good profit.

    Resale purchasers and recent purchasers after 2012 are better off waiting.



    Originally Posted by praant
    Builder has been increasing super area of almost all wishtown projects.
    Did anyone manage to get Form A for verifying if the increase has also been declared to NA

    Deriving super area of flat or floor from Form A | Reviews Suggestions and Utilities


    You can measure the super area after delivery. If they made a mistake - you can file for damages in Gautam Budh consumer court.

    Originally Posted by dineshsays
    Here is the deal - NA is so corrupt and so much in bed with builders that they have started what is called partial OC - with this - NA keeps giving OC to the point end users can register but will never give final OC until the builder pays up with interest

    See the Omaxe case - registries started - then closed now not happening, the buyers are stuck etc

    Like you all say - this will def create issues sooner rather than later

    Amitexpert had mentioned he had plans to put in an RTI on the matter - I wonder what happened here

    This is ONE area where WT buyers can rest a little easy - underlying land has NO disputes - no ownership / transfer issue


    True.
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