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 rahulkumar12
    rovingeye..atlast you become fan of WT Noida. :)

    Fan? Now, that would be jumping the gun.

    I'm depending on collective wisdom here - looking for inputs to start research. So, I would appreciate inputs. As I have said, I am going with a 10 year horizon, but want the product to be good - in case I do remain in Delhi, I would like to live there. But, at the same time, I would like the payment load to be minimal since this would be a hobby investment for me - a backup plan if you will.
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  • Originally Posted by rovingeye
    Fan? Now, that would be jumping the gun.

    I'm depending on collective wisdom here - looking for inputs to start research. So, I would appreciate inputs. As I have said, I am going with a 10 year horizon, but want the product to be good - in case I do remain in Delhi, I would like to live there. But, at the same time, I would like the payment load to be minimal since this would be a hobby investment for me - a backup plan if you will.


    Budget?
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  • Originally Posted by dineshsays
    Shaurya Bhai - I dont doubt for a minute that there are issues - very real - within WT, with Jaypee, with its relationship with the incumbent government and in the face of macroeconomic headwinds - but some of these allegations are downright ridiculous - examples from the first page only:

    You are right these are genuine issues -

    - Jaypee should pay EMI for the delayed period Laughable - increase the penalty is valid but pay EMI for you??]
    This is true for subvention scheme (No EMI till 24 months) customers
    - No construction is taking place at the sight for the last 6 months This is FALSE]
    Not true wishtown wide but true for Kube/Knights Court/Tower specific as well e.g. Tower 55,56,57 in Kosmos
    - Please update monthly picture/snap shot of all the towers. You post one random photo - which does not give clear picture of the status of construction to all your customers. There should be 21 photos (One photo for each tower) at Jaypee Greens website. That is exactly what they do]
    They do for most of the towers but some towers are not updated - tower specific concern.

    And further, if you look at the laundry list the demands are generally the following 4 :

    - Publish posession dates Valid]
    - Increase penalty paid by builder Valid - though all other projects that are paying are not paying more than Rs 5 psf. here for Pavilion/Kalypso Jaypee is paying Rs 10 psf. Anycase - the delay has also been extraordinary, Jaypee has to pay]
    - Speed up construction Semi Valid - over the last 6-8 months, its been pretty good progress though it can always be improved]
    - Dates of clubs, water/power utilties will be ready Very Valid]
    - there are very few individual (genuine) concerns as well

    In summary - I think we as a group have identified more things that need to be identified/verified/resolved with Jaypee than the yahoo group members

    The huge laundry list of issues is really a list of 4-5 valid concerns


    Yeah you are right, These demands can be categorized in 5/6 broad issues.
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  • Originally Posted by dineshsays
    Budget?


    Say if I pay 8 lac each year for 10 yrs. That would make it abt 80 lacs. But again - the whole plan is to take advantage of the 10 yr horizon.
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  • Originally Posted by varun kalra
    hi ,

    If you can send me details
    donehi ,

    If you can send me details
    done
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  • i would suggest orchards...but i think payment would be more in the begining...30% or so..then you can pay in parts..and in my honest opinion it would at least take 7-8 years for G+37 structures to get delivered..

    Originally Posted by rovingeye
    Fan? Now, that would be jumping the gun.

    I'm depending on collective wisdom here - looking for inputs to start research. So, I would appreciate inputs. As I have said, I am going with a 10 year horizon, but want the product to be good - in case I do remain in Delhi, I would like to live there. But, at the same time, I would like the payment load to be minimal since this would be a hobby investment for me - a backup plan if you will.
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  • Originally Posted by rovingeye
    Say if I pay 8 lac each year for 10 yrs. That would make it abt 80 lacs. But again - the whole plan is to take advantage of the 10 yr horizon.


    Roving eye, my recommendation would be Kube 3bhk (1740 sq. ft.) tower 6, floor 20+, east facing unit.

    Resale price is still hovering around 4000 so not much appreciation since launch in sep 2010 at 3500. Construction is on piling stage, so even with L&T, you are safe for another 3.5 to 4 yrs.

    Check out the floor plan and see if it meets your requirement.

    But, as the builder requires 30% payment within 60 days and another 10% on excavation, you will not find anything where you can pay 8 lacs per year for next 10 years, unless you go for a loan.
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  • Originally Posted by rovingeye
    Say if I pay 8 lac each year for 10 yrs. That would make it abt 80 lacs. But again - the whole plan is to take advantage of the 10 yr horizon.


    Roughly you could say 6 lac each year towards principal and rest towards interest (even if you take a mix of CLP - no offering is CLP for 10 years - so a home loan etc WILL be required)

    So in classic terms a budget of roughly 60 lacs ~ 1700 sq ft

    I dont think you'll get anything like this to my humble knowledge

    Other members - please suggest, perhaps one of the bigger Kosmos Heights/ Klassic options? Though if you didnt like Pavilion, I doubt you'll like this
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  • Thanks for that phantom. Are you aware if JP has fresh inventory for Kube? If yes, what is JP asking?
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  • I liked the Orchards plans better than Kube. What are the going rates for Orchards? Has construction started for it yet?
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  • Originally Posted by rovingeye
    Thanks for that phantom. Are you aware if JP has fresh inventory for Kube? If yes, what is JP asking?



    Oh yes - good suggestion Phantom - Kube is an option. RovingEye - some people are not very keen on the location, so do consider that once
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  • Originally Posted by rovingeye
    Thanks for that phantom. Are you aware if JP has fresh inventory for Kube? If yes, what is JP asking?


    You won't find anything with jaypee, but the underwriter for kube is Buniyad. A month back they had a few units in tower 5 and 6 which were available in fresh.

    But you can save a few hundred by trying the resale market, also you can pick the unit of your choice.

    From what I could sense is that there are some very good deals in the resale market as some people are fed up that nothing has moved on the ground in 18 months, and because of L&T coming in, some interest had got generated recently and the resale market has opened up again. So the people who have been stuck for long, would be just happy to exit at this point.
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  • Originally Posted by dineshsays
    Roughly you could say 6 lac each year towards principal and rest towards interest (even if you take a mix of CLP - no offering is CLP for 10 years - so a home loan etc WILL be required)

    So in classic terms a budget of roughly 60 lacs ~ 1700 sq ft

    I dont think you'll get anything like this to my humble knowledge

    Other members - please suggest, perhaps one of the bigger Kosmos Heights/ Klassic options? Though if you didnt like Pavilion, I doubt you'll like this


    Ok. So, it seems like I would have to take a loan to get this kind of a plan. If I took on a 60 lac loan (remaining down) then over a 10 year period at ~ 11% interest, I would end up paying roughly 40 lac in interest to the bank. Does that sound about right?
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  • Yup - that would make your budget to 80 L BUT the overall spend to 1.2
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  • Originally Posted by dineshsays
    Oh yes - good suggestion Phantom - Kube is an option. RovingEye - some people are not very keen on the location, so do consider that once


    Yes dinesh Bhai, I have read many posts on IREF saying that kube location is not good, and in the same breadth people also say that orchards location is very good.

    In my honest opinion, I would either treat both projects at par, or even give kube the edge.

    Kube is less congested with no towers on the west, only some farmhouses and the Yamuna.

    The density of the project is better than orchards, less number of flats per acre.

    The little village in the corner is as much a negative for kube as it is for orchards.

    Kube has knights court, oriental kingswood villas and orchards as it neighbours. Whereas orchards has kube and KB as its neighbours.

    The proximity to town centre is same.

    Apart from GC views and slightly better specs, I don't see much more USP in orchards over kube to justify the price diff. And if GC view is the criteria, there are many flats in kube which qualify as much GC view as Orchards. So you can compare between them and see which is better value for money.
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