Hi,

This is a new project in sector 100 on greater noida express way. Does anyone have any idea on the Builder ? They are providing 2-3 BHK flats 2825 psf.

Thanks
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  • This increase in super area without proportionate increase or rather zero increase in carpet area is worrisome. Any idea as to the actual extent? The clause in the BB agreement says 'upto 8 %', prima facie quite unfair. In my opinion, the variation should not be more than 0.5%. Moreover, the buyer comes to know of this condition (con actually) only after he has booked and the Builder gives him the draft BB agreement. Should not this be mentioned upfront on the web sites and shiny brochures that 'the area mentioned can vary upto 8%'. Have any Courts taken note of this unfair practice? Even the Property shows and the so called property experts appearing on TV shows are silent on this aspect.
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  • Which 3 towers? and how many people you saw working? Mine is Tower 20; hope work has started in it as well?
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  • Originally Posted by mmukul
    This increase in super area without proportionate increase or rather zero increase in carpet area is worrisome. Any idea as to the actual extent? The clause in the BB agreement says 'upto 8 %', prima facie quite unfair. In my opinion, the variation should not be more than 0.5%. Moreover, the buyer comes to know of this condition (con actually) only after he has booked and the Builder gives him the draft BB agreement. Should not this be mentioned upfront on the web sites and shiny brochures that 'the area mentioned can vary upto 8%'. Have any Courts taken note of this unfair practice? Even the Property shows and the so called property experts appearing on TV shows are silent on this aspect.


    Mukul ji

    When I asked them- they clearly said the super area for my apartment is now 1395 which was 1295 earlier. About the breakup, they said 15-20 feet is increase in the apartment and the remaining is in super area. Even if buyers appoint top lawyers of India, we wont be able to get anything out of builders. Let us accept the fact. Whatever you are saying- is 100% right and ethical but we are clients and they are builders- AND WE ARE IN INDIA. I spoke to the sale manager for 1 hour- they dont have reply to my questions so choice is ours- pay the additional amount or keep waiting and pay penalty as well. It will be a pure waste of time.

    Thanks
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  • Originally Posted by IndianPundit
    Which 3 towers? and how many people you saw working? Mine is Tower 20; hope work has started in it as well?


    Pundit ji

    I visted on 5th Feb and I saw people working in T20-21-22. I dont know how much work is pending but according to the sales staff on the site as well as their sales manager- this is first in the line to be delivered. Mine is in T27 so according to them, I should be expecting the delivery in Q1-2017.

    Though I saw labor working on 5th Feb but I dont know if it is on regular basis or not.
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  • Originally Posted by vmn242018
    Pundit ji

    I visted on 5th Feb and I saw people working in T20-21-22. I dont know how much work is pending but according to the sales staff on the site as well as their sales manager- this is first in the line to be delivered. Mine is in T27 so according to them, I should be expecting the delivery in Q1-2017.

    Though I saw labor working on 5th Feb but I dont know if it is on regular basis or not.


    After my last visit on the site (5th Feb 2016), I can say-

    - I am positive about the property appreciation mainly due to the sector location
    - I am positive that the project will be delivered
    - I am positive about the community- inside and out (contrary to what real estate "experts" claim)
    - I am neutral about the quality of construction
    - I am not so positive about the quality of maintenance once the project is handed over

    Only those people will be disappointed who have invested in this project considering it as HIG. I knew that this is MIG because in 48lacs- you can get decent location MIG in Noida and I still believe that majority people who have invested in this project have taken it as MIG though investors might have portrayed it as HIG to earn quick bucks
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  • Originally Posted by vmn242018
    After my last visit on the site (5th Feb 2016), I can say-

    - I am positive about the property appreciation mainly due to the sector location
    - I am positive that the project will be delivered
    - I am positive about the community- inside and out (contrary to what real estate "experts" claim)
    - I am neutral about the quality of construction
    - I am not so positive about the quality of maintenance once the project is handed over

    Only those people will be disappointed who have invested in this project considering it as HIG. I knew that this is MIG because in 48 lacs- you can get decent location MIG in Noida and I still believe that majority people who have invested in this project have taken it as MIG though investors might have portrayed it as HIG to earn quick bucks


    Well summarised, but you mention a price of 48 lakhs (not sure of the unit size), if you factor in the interest / holding costs for the last 6 years, the price would be easily 1.5 times. I think in the current downturn it is possible to get a RTM or near RTM close to this price. So I believe this would be a good time for an end user to make his research and buy if he is really looking for an apartment to stay.I think the investor market is gone for some years at least and in any case the investors enter at the beginning of a project cycle when the the total investment is small so that they can have better ROI. Just my two cents
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  • Originally Posted by jollygood
    Well summarised, but you mention a price of 48 lakhs (not sure of the unit size), if you factor in the interest / holding costs for the last 6 years, the price would be easily 1.5 times. I think in the current downturn it is possible to get a RTM or near RTM close to this price. So I believe this would be a good time for an end user to make his research and buy if he is really looking for an apartment to stay.I think the investor market is gone for some years at least and in any case the investors enter at the beginning of a project cycle when the the total investment is small so that they can have better ROI. Just my two cents


    Bingo- you are right on the spot Jollygood. I have done my calculation. I took this on CLP and if I take 10% interst rate (holding costs or interest on compound basis on each installment) and if I sell it on 73 lacs today- I can end up making 55% return on my orignal investment. Yes, in this price an end user can get RTM but I dont know if one can get RTM in the same location at this price. Moreover I am very much positive about the price appreciation 3-4 years down the line- in this sector. People who have invested in this project in 2008-2009 have made good money but as of now I dont want to exit the project. I would prefer to wait for another 7-8 months before deciding future course of action. But I still feel that if this project would have finished on time and with the quality promised when the project was launched- this would have fetched 20-25% more returns. As of now, it is buyers market so many people like me- who are not in need of money so urgently- can sit back and wait for the right time to come. Real estate market will improve- what goes up comes down- just to bounce back
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  • 3C has sent the trailing mail to the buyers where work has started

    We completely understand your concerns in regards to delay in handing over of possession.

    We would like to apprise you that few towers i.e. 19, 20, 21 & 22 has been activated. The project team handling these towers is now geared up to regain the pace of construction required to speedily deliver of the residences. We have drawn out elaborate measures and steps to expedite construction and delivery across all towers in a time bound manner.

    We shall keep you posted for further development.

    Also, we would like to apprise you that we shall inform you as soon as we receive occupation certificate shortly within 2-3 weeks.

    Regards,
    Team 3C
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  • Originally Posted by jollygood
    3C has sent the trailing mail to the buyers where work has started

    We completely understand your concerns in regards to delay in handing over of possession.

    We would like to apprise you that few towers i.e. 19, 20, 21 & 22 has been activated. The project team handling these towers is now geared up to regain the pace of construction required to speedily deliver of the residences. We have drawn out elaborate measures and steps to expedite construction and delivery across all towers in a time bound manner.

    We shall keep you posted for further development.

    Also, we would like to apprise you that we shall inform you as soon as we receive occupation certificate shortly within 2-3 weeks.

    Regards,
    Team 3C


    While talking to Naveen Mann (head of customer service), he also confirmed below statement. according to him-

    19-22 will be handed over BEFORE May2016
    27 will be handed over by the end of this year
    28-30 by Q1 2017

    They confirmed that they have more than 250-300 people on the site

    I dont know if they will be able to fulfil their promises
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  • It will be clear if they get OC in next 2 weeks
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  • Mails are being sent by Vidhur now for handing over the towers, without the mention of abused word of 'tentatively' this time. I received mail for my tower 20 to be handed over by May16. Keeping fingers crossed.
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  • Originally Posted by IndianPundit
    Mails are being sent by Vidhur now for handing over the towers, without the mention of abused word of 'tentatively' this time. I received mail for my tower 20 to be handed over by May16. Keeping fingers crossed.


    Naveen Mann and Sanjay Yadav have also assured that penalty will be paid as per the agreement and they will provide a breakup of increase in the super area.

    Many people will not be happy about the increase in super area (me too) but it seems situation will improve in the next couple of months. Not over-optimistic but trying to B+

    End of the day, all 3 partners would like to remain in this business and incomplete projects will haunt their future growth and selling potential. People, in India, tend to forget the past, BUT NOT SO EASILY AND NOT SO SOON. So 3C WILL HAVE TO fix this problem before moving on.
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  • seems true
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  • Has anyone visited recently and seen the actual progress at site. If possible please share pictures. Thanks
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  • Originally Posted by jollygood
    Has anyone visited recently and seen the actual progress at site. If possible please share pictures. Thanks


    I visited the site on 5th Feb but forgot to take pics. FOR SURE IT IS NOT A CONCRETE JUNGLE and there is a "feel good factor" in terms of MIG society. In terms of transporation and other facilities- its "olaa". Autos and vegetable vendors were exactly outside the community gate. There were few dozen people on the site but only upto tower 22. There is no work going on in T27-30. BUT DONT EXPECT THE WORK TO START AT 160KMPH. Even it goes at 60KMPH, project should be over by mid next year. I am keeping my fingers crossed.

    PLEASE DO NOT LOOSE HOPE--------NO MATTER WHAT "REAL ESTATE PANDITS" SAY ON THIS FORUM. BUT KEEP SENDING MAILS AND KEEP CALLING 3C- MANAGEMENT TEAM
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