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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: April 27 2021
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  • Re : Jaypee Greens Wishtown, Noida

    Originally posted by Newbee00
    Ur Link is not working Aviral

    The content may have been removed, or is temporarily unavailable.

    We apologize for the inconvenience. Please try again later.
    Try again .. I tried that link and its working fine

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    • Re : Jaypee Greens Wishtown, Noida

      oh yes meeting dinesh and yash is like getting confidence dat we will get what we hv paid for

      dinesh lets form a group for kristal and kasa if possible not only for voicing our voice but to support d larger good of the core team

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      • Re : Jaypee Greens Wishtown, Noida

        Otherwise just search in YouTube with the following..... consumer-woes-endless-wait-for-jaypee-home-buyers

        Additionally if anyone wants to participate on the next show please feel free....... Hoping we will get another opportunity soon...

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        • Re : Jaypee Greens Wishtown, Noida

          Originally posted by Venkytalks View Post
          Good show.

          For national consumer court a single flat has to be over 1 crore not by clubbing multiple flats although it can be tried. Otherwise case will be in Lucknow.

          Consumer court will return our money with 8 to 12 % interest.

          We wont get our flat.

          Jaypee on its own will probably return money even without court case. They have said so twice in meetings. But rate of interest not fixed and likely to be low.

          They give 12% for early payments and company deposits.

          Even without case we can probably get back money plus 12% interest.

          But most of us want our flat not our money back.

          We should go to consumer court after registering flat for extra compensation more than 5 Rs psf per month.
          I don't have any investment in JP but have experience of dragging builders in court.

          For taking the matter straight to NCDRC, you are correct that the amount of dispute should be more than Rs 1 Cr. This 1 cr amount includes principal amount that you have already paid to the builder and the interest and penalties that have accrued on the amount as per you.

          Suppose you have paid 75 lacs to the builder for a flat that was supposed to be delivered in 2011 as per PAL or agreement. You can add interest for 3 years to the amount at say 12-18% and on top of it add a few other things too to inflate the amount in dispute, make it above 1 cr and move directly to national forum. Some lawyers will tell you to add interest from the day you booked the flat.

          So your paid amount only is not the criteria.

          PS: I'm not suggesting you to take the legal route. Justice system of our country is rotten. Take the flat if you can by protests and talks etc. Go legal only as last resort.
          Last edited October 18 2014, 10:15 PM.

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          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by Venkytalks View Post

            Jaypee on its own will probably return money even without court case. They have said so twice in meetings. But rate of interest not fixed and likely to be low.

            They give 12% for early payments and company deposits.

            Even without case we can probably get back money plus 12% interest.

            Hi Venky,
            What is the process for same.. I am seriously thinking to surrender my unit in Klassic Shaurya project ..

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            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by Aviral79 View Post
              Just incase if you missed this one....

              Consumer Woes: Endless Wait for Jaypee Home Buyers
              One gentleman is telling that he got possesion date of 2015 & his brother got 2016 and both have flat in same floor & in same building.

              this shows that how JP is treating their customers.
              in other countries company treat their customer like king but indian businees/company the moment u paid money then no one cares about customer.
              i always avoid any indian make product but in RE no option ,
              lets hope Modi will allow foriegn players in RE also like in consumer industry.

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                Originally posted by ecstasy View Post
                Hi Venky,
                What is the process for same.. I am seriously thinking to surrender my unit in Klassic Shaurya project ..
                If u took loan then the 12% interest u get will be reduced to 8% after taxes and will go to prepay your 10.5% loan.

                After 5 years u will be left with nothing to show.

                You can always phone them and ask for what they promised in 30th August meeting i.e. money back with interest. Ask how much interest they will give.

                If enough people do this they should get shaken up and pressured to speed up. Mass cancellations is the biggest threat we can deliver
                Last edited October 19 2014, 09:51 PM.
                Venky (Please read watch a or before posting)

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                • Re : Jaypee Greens Wishtown, Noida

                  Jaypee Greens - Noida

                  Originally posted by Venkytalks View Post
                  Good show.

                  For national consumer court a single flat has to be over 1 crore not by clubbing multiple flats although it can be tried. Otherwise case will be in Lucknow.

                  Consumer court will return our money with 8 to 12 % interest.

                  We wont get our flat.

                  Jaypee on its own will probably return money even without court case. They have said so twice in meetings. But rate of interest not fixed and likely to be low.

                  They give 12% for early payments and company deposits.

                  Even without case we can probably get back money plus 12% interest.

                  But most of us want our flat not our money back.

                  We should go to consumer court after registering flat for extra compensation more than 5 Rs psf per month.

                  Consumer Court will get you the present advertised rate of builder which in many cases is at least Rs 500 more than the current resale - there is absolutely nothing doubtfully here. You ask for this and on most cases you also get harassment and legal fee over and above this. The catch is the many years it may take.
                  Last edited October 19 2014, 10:58 PM.

                  Comment


                  • Re : Jaypee Greens Wishtown, Noida

                    Originally posted by Aviral79 View Post
                    Consumer Court will get you the present advertised rate of builder which in many cases is at least Rs 500 more than the current resale - there is absolutely nothing doubtfully here. You ask for this and on most cases you also get harassment and legal fee over and above this. The catch is the many years it may take.
                    . Usually builders jack up prices 12 to 15% every year. For JP it is less than 12%. Kosmos 2BHK now costs 5071 psf AI while in 2009 it costed 3300 AI both in CLP. (Current AI market price at least 500 psf lower than advertised.)

                    That gives you 9% compound interest from sale price to advertised price. Usually court will give capital plus 12% interest.

                    You have to pay tax of 30%.

                    If you did booking on loan you will gain nothing. All compensation awarded will cover your loan interest cost. Max you will get 5 to 6% on your OWN capital used in booking.

                    If you booked without loan then u will get 9% after taxes. If lucky maybe 18% punitive interest will be awarded which means 12% after taxes.

                    That kind of small return u will gain anyway and much more when project is delivered. Within 1 year of delivery flat price will zoom.

                    Present advertised rate will be for today Resale price is ALWAYS lower than advertised rate until possession.

                    Court will decide after 2 years when resale price will be much higher because close to possession.

                    I saw Kosmos and Klassic today. Project is not in any danger.

                    In fact I thought a buy at BSP below 4000 is a value buy for end users and a good 2 year leveraged investment for a 500 psf minimum gain in 6 months and 1000 psf gain in 2 years.

                    Assuming 20% downpayment on 4500 = 1000 you can make 50% within one year and 100% in two years by taking loan.

                    There are VERY FEW such opportunities in present market for this type of return
                    Last edited October 19 2014, 11:56 PM.
                    Venky (Please read watch a or before posting)

                    Comment


                    • Re : Jaypee Greens Wishtown, Noida

                      Jaypee Greens - Noida

                      Originally posted by Venkytalks View Post
                      . Usually builders jack up prices 12 to 15% every year. For JP it is less than 12%. Kosmos 2BHK now costs 5071 psf AI while in 2009 it costed 3300 AI both in CLP. (Current AI market price at least 500 psf lower than advertised.)

                      That gives you 9% compound interest from sale price to advertised price. Usually court will give capital plus 12% interest.

                      You have to pay tax of 30%.

                      Present advertised rate will be for today Resale price is ALWAYS lower than advertised rate until possession.

                      Court will decide after 2 years when resale price will be much higher because close to possession.

                      I saw Kosmos and Klassic today. Project is not in any danger.

                      In fact I thought a buy at BSP below 4000 is a value buy for end users and a good 2 year leveraged investment for a 500 psf minimum gain in 6 months and 1000 psf gain in 2 years.

                      Assuming 20% downpayment on 4500 = 1000 you can make 50% within one year and 100% in two years by taking loan.

                      There are VERY FEW such opportunities in present market for this type of return

                      Good point. Kosmos an klassic are value at current prices but the Risk is if it goes belly up.

                      Do the math with another project regarding current market rate and the result will look different.
                      Last edited October 19 2014, 11:58 PM.

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