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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  • There are e-groups on yahoo which I came across few days back for respective jaypee projects- some of them are already active.
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  • I think JP charged a premium as compared to other projects probabaly becuase of its location. I just hope that the quality of construction in Klassic is atleast good e.g. walls, doors, common area, etc.
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  • Bad news for Kosmos???

    I read on yahoo group that ICICI bank has stopped funding for Kosmos project. They are either not approving the loan or not disbursing it for Kosmos. Someone mentioned that Bank of Indore did the same. They know something that we dont??

    Anybody has any insight into this? Looks like floor plans are not approved yet, and there may be quite a bit of delay for Kosmos.
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  • Hi rks.

    I based my % sold status on the inventory shown by various brokers. They all have only 17th floor or therabouts.

    Floor plan of Kosmos has not been approved. But neither was Klassic until 3 months ago. No loans have been released for Kosmos, only pre-approval has been given based on salary.

    Until floor plans are approved by authority and filed with banks, no question of bank loan. Thats true of all projects. Usually takes 6 months for this.

    I have no idea about moon court, pavillions etc. I usually buy in bargain basement price ranges, not in luxury apts, and dont research what I cannot afford.

    Regarding delay in Kosmos, issue is - will they dig and make basement before or after monsoon 2010? I suspect that they will work on Klassic before monsoon and Kosmos will start only after monsoon.

    By the way, all builders in NOIDA seem to not sign a builder buyer agreement, unlike in Gurgaon. Why is this?
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  • rks

    >I read on yahoo group that ICICI bank has stopped funding for Kosmos project

    Can you please tell us yahoo group name?
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  • Kosmos and Klassic has been removed from main web site??? Why??

    Something is not right : http://www.jaypeegreens.com/
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  • ]http://in.groups.yahoo.com/group/Jaypee_Greens_Kosmos/
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  • Be Careful with Jaypee

    Look messages at yahoo group:

    http://in.groups.yahoo.com/group/Jaypee_Greens_Kosmos

    People think that Jaypee does not have clear land tittle yet. Has anybody seen land clearance paper?

    Jaypee has not build any floor yet. They are working at parking level from last two year, why? I think it time to talk with Jaypee in legal language.
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  • Hi

    Anyone has any update abt construction status for any of the Jaypee projects on the expressway!!
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  • I will visit the area this or next week, will post update
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  • I visited the Jaypee site this Sunday. Very deep digging for Klassic has been completed and foundation is being built. Concrete mixers are in evidence. The Klassic towers have been marked out and the steel rods are in place for the foundation in many of the towers.

    The entire Wishtown area looks like a masive construction site, which it is. Construction activity is on at a really grand scale. Acres and acres of digging and earth movers. Bigger than any construction site I have ever seen in my life.

    It is not clear whether Kosmos digging has started. Most of the site is covered with earth moving machinery, but they seem to be levelling the site with the material dug out of Klassic foundations. Some digging is going on in Kosmos site, but this could be the Klassic towers which are just behind Golden Gate. Even discounting for this, some of the Kosmos towers do look like they are being dug, towards the back.

    I did not want to ask anybody, because of the unsavoury reputation of this part of NOIDA for mugging and other criminal activity.

    A lot of other construction work is also going on in the rest of Jaypee sites. Jaypee IT college is being built. JP school and hospital sites are being dug up. There is levelling (or dirt dumping, not sure which) on the sites of JP commercial.

    The flyover for the JP greens has further progressed with improvement of the approach roads. Most of the construction trucks are moving on the flyover.

    JP site office has updated their model for wishtown, putting in the Golden gate and revised location for Klassic towers. Kosmos latest plan tower has been updated.

    Office is still crowded with prospective buyers. I had a nice lunch in the JP greens staff canteen, which was a posh place.

    It is not clear how the approach road to Jaypee is going to be planned, and whether there is an exit on to the flyover planned next to Sector 93 B. Otherwise getting to JP by expressway will not be easy. Most likely, the first and only exit from the expressway will be by clover leafs on the 93B flyover, which one will have to take for JP. But I am guessing.

    All other expressway projects will have to exit the expressway a long time before the project and will have to follow a complicated sector road route to reach them. There are very few exits on the expressway. Lotus 3c is a case in point. Once the sector road is built, entry to 3C will be BEFORE the expressway even starts, right at Mahamaya flyover and will be approached by sector roads only.

    I am not sure how 135 and 137 sectors will be approached.

    Anybody know the traffic route plans?
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  • Kosmos and My Dilema

    What a Good Site!!!!!!

    I booked in Kosmos with down payment Plan and got 15% discount but have changed my mind since considering risk ,delayed projects etc ,got pro allotment letter and receipt for booking amount 2 Lakh and demand notice for rest of payment within 30 days or 18% intrest charge if payment not made in time.

    Wrote a letter asking them to switch to construction link plan ,they acknowledged by sending email that they will do the change and send me amended papers but have not heard back despite reminders .

    What to do ? Was it ok to switch from Down payment to CLink Plan ? Lost 15% discount.
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  • I retract my earlier statements about JP location. Apparently they will not be approachable from the expressway, only by sector roads.

    That makes JP location very poor and no longer fantastic. 3C Lotus boulevard and espacia are much closer to the DND flyway and are much better located than JP for Delhi people, if both projects have to be approached by sector roads.
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  • Venky, admire your honest opinion recommending people not to invest in Jaypee as far as I believe you've invested in Jaypee Kosmos & some people (usually investors for profits) recommend their own projects to increase cash-flow for the builders so construction may happen faster & it's sold-out to be safe.
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  • Hi reals, I booked after a lot of research and chose JP for location, better floor plan and higher carpet area to super area ratio compared to 3C for the same area of flat. Also because Jp was a township. Price psf was same for both when I booked.

    I made my decisions on the same arguments and logic I keep presenting on this site.

    Yes, I ignored internet chatter because I have been on it for 12 years and know what to believe and what not to. I believe JP is high risk, high reward (might be wrong). You are mistaken about the power of these discussion boards, very few people who invest in RE use or read them. Opinions expressed here have no influence - it is the gossip circle of broker/dealer who influence projects - mainly based on discounts recieved and talking points - eg. JP is a very big group, 3C is the best quality, is green etc etc. Mostly, internet chatter is pessimistic.

    I would still recommend JP as second best after 3C (as I did 3 months ago) because the project is near sold out and will go forward. JP has enough money and did not pay for the land which was acquired and allotted by Yamuna expressway. Their only expense is paying for the Yamuna expressway from their pockets, which is full with private equity with JP Associates right now.

    They have little interest costs (I would also recommend their shares, down 6% today and likely to go down further - a superb buy if it falls below 100). Their business model is different from all other RE companies and IMO a winner, thanks to the last 6 months.

    Apart from 3c boulevard/espacia, glory, saphire and JP I have reservations regarding all other so-called expressway projects. 3c boulevard is the best - their door and window quality is excellent. Approach roads are excellent and direct. But rooms are small.

    I saw the construction today, Kosmos is being built on a war footing. Towers 1-50 deep excavations almost complete, foundation concrete pouring started.

    Towers 50-80 still grass fields. Fencing is ongoing, not complete. Be more careful of towers after 50. But slow construction is not necessarily a bad thing in a CLP.

    Very disappointed about the e-way entry and exits.

    Hope this helps,

    Venkat
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