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Lotus Panache by The 3C Company in Sector 110, Noida

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Lotus Panache by The 3C Company in Sector 110, Noida

Last updated: September 8 2017
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  • Re : Lotus Panache by The 3C Company in Sector 110, Noida

    Originally posted by sanjeevchaudhri View Post
    One of my friend was promised delivery time of 31 months when he booked a 1955 sq ft flat in early Jan 2010. Few days back, he received the allotment letter in which it is mentioned that the flat would be delivered after 39 months (counter starts from April 2010).

    Hence official date of possession is Q3 2013 which might stretch by 1 or 2 quarters (the penalty after 39 months is Rs 5 per sq ft, which would not pinch much to the builder).
    Hey why do you think the penalty would not pinch the builder? As per my calculations if the builder has to pay Rs 5 / sq ft to 3700 flat owners, then it will be about Rs 22200000 (5 * 1200 (approx avg) * 3700(flats) ) per month. Isnt it a big amount?

    39 months is way too much, If that is the case then I would say even Jaypee is a better bet.

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    • Re : Lotus Panache by The 3C Company in Sector 110, Noida

      Originally posted by ravinka View Post
      Isn't Official Documents from 3C says they will deliver it in 36 months ?
      Anyone who received paperwork from them can confirm pls ?
      For phase-1 towers, it is 24 months from allotment date.

      Comment


      • Re : Lotus Panache by The 3C Company in Sector 110, Noida

        Originally posted by leechawla View Post
        Hey why do you think the penalty would not pinch the builder? As per my calculations if the builder has to pay Rs 5 / sq ft to 3700 flat owners, then it will be about Rs 22200000 (5 * 1200 (approx avg) * 3700(flats) ) per month. Isnt it a big amount?

        39 months is way too much, If that is the case then I would say even Jaypee is a better bet.
        By 39 months (before possession), 3C would have taken 90% of 3000*1955 = Rs 52,78,500/=

        At 10% (interest rate after 3.5 years) the monthly interest outgo (or loss of interest income if invested from own pocket) is Rs 43987 on Rs 52,78,500.

        Late possession penalty received from builder is Rs 5 * 1955 = Rs. 9775.

        In Rs 9775 , even a 1 BR flat would not come on rent in 2013.

        Return received by buyer after 39 months = 9775 * 100 * 12 /5278500 = 2.2% per annum.

        Rs 2,22,00,000 appears to be a big amount but please note that it would cost 3C's just 2.2% per annum in interest cost. If 3C's goes to some bank, he would get the funding 17-20% per annum.

        Comment


        • Re : Lotus Panache by The 3C Company in Sector 110, Noida

          Originally posted by sanjeevchaudhri View Post
          By 39 months (before possession), 3C would have taken 90% of 3000*1955 = Rs 52,78,500/=

          At 10% (interest rate after 3.5 years) the monthly interest outgo (or loss of interest income if invested from own pocket) is Rs 43987 on Rs 52,78,500.

          Late possession penalty received from builder is Rs 5 * 1955 = Rs. 9775.

          In Rs 9775 , even a 1 BR flat would not come on rent in 2013.

          Return received by buyer after 39 months = 9775 * 100 * 12 /5278500 = 2.2% per annum.

          Rs 2,22,00,000 appears to be a big amount but please note that it would cost 3C's just 2.2% per annum in interest cost. If 3C's goes to some bank, he would get the funding 17-20% per annum.
          superb explanation Sanjeev bhai !! .. people tend to go by absolute values .. but in reality its the relative numbers which matter!

          Comment


          • Re : Lotus Panache by The 3C Company in Sector 110, Noida

            Originally posted by leechawla View Post
            .......

            ...39 months is way too much, If that is the case then I would say even Jaypee is a better bet.
            I dont think any other builder will give possession before 3 years, atleast 3C is putting it on papers. I read in this forum somewhere that one builder promised possession two years after allotment, but conveniently chose to disburse allotment letters good 8-10 months after booking..

            Comment


            • Re : Lotus Panache by The 3C Company in Sector 110, Noida

              Originally posted by ajayg View Post
              I dont think any other builder will give possession before 3 years, atleast 3C is putting it on papers. I read in this forum somewhere that one builder promised possession two years after allotment, but conveniently chose to disburse allotment letters good 8-10 months after booking..
              yeah that has happened with Omaxe Grand Woods

              Comment


              • Re : Lotus Panache by The 3C Company in Sector 110, Noida

                Originally posted by deeps79 View Post
                Ok, i went back...checked the layout of earlier plan and new plan (with increased no of floors)
                The calculations are given below in the image.

                Points to be kept under consideration :-
                1. The earlier plan didnt have no of floors in tower 14-30, so i assumed that it was earlier planned to have 21 floors.
                2. If i take 21 floors as per point 1 above then the total no of flats come out to be 3192. But the discussion earlier pointed out that total no of flats were approx 3500. Hence, i believe 3C was planning to make more that 21 floors in towers that were going to be launched later.
                3. The total no of flats after increase comes out to be 3700. Please notice that all towers are not 25 floors high. Some of them are 23 floor high and LP island have 22,24,26,28,30 as no of floors in five respective towers (26-30)
                so, if we go by earlier mentioned figures than 3C has increased no of flats by around 200 (assuming 3500 were originally planned).

                Please let me know, if i am wrong in my calculations anywhere.
                Deeps, have you considered the ground floor in this sheet? Should it not be 15 floors inclusive of the ground floor, however you have done a good job, the difference between the new and old will be 508 units only as per your calculations.

                Guys at 3C told me that they had kept these floors for builder and they had kept them as inventory in each tower, otherwise why we would have announced around 3500+ flats in LP when we launched the project. However this looks like a big "bahana" to cover their wrongs.

                Actually anything beyond 15 storeys should be thought of twice in this seismic zone w.r.t. foundations, materials and engineering. NA guys are busy churning the moolah, to hell with the engineering and safety concerns!!!!

                This looks like a scam, banks dont want to offer loans for this ridiculous scheme floated by authority, neglecting the fire, seismic aspects of this area etc etc....... builder ko kya padi hai...... woh to business karne ke liye hi baitha hai..... why to blame the builder and his intent...... jab humari authority hi mazze loot rahi hai..... who has got that conscience in today's world to not to make money in this situation........ authority roads bana kar, aur feilds ko neelaami kar ke khush hai........ jab equake aayega, jab aaj lagegi tab ek do logon ko temporary suspension issue kar denge........ baad mein unko bhi waapis le lenge........ 20-30 hazaar log maregne...... waise hi aabadi itni hai.... thodi kam hogi.......... sorry guys really pissed off with the current scenario.......
                Looks like a big time Khosla ka ghosla type of thing and dont know how many more heartburns will be there till the possession, in each one of us??????
                Last edited by abhayambuj; April 27 2010, 10:41 PM.

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                • Re : Lotus Panache by The 3C Company in Sector 110, Noida

                  Dear Abhay,

                  Cool down....land is limited and agree you on point of fire safety. Atleast safety device and infrastructure will be created in new buildings.
                  Regarding how many earthquake hit Delhi in last 50 years ? You can not live in fear that earthquake will destory everything.

                  Ask these question yourself :

                  1. Office where you work, have you seen any proof/ certificate of earthquake resistent structure ? Moreever before joining your office have you asked for it ?
                  2. What about fire safety ? Are you sure your office, places you visit often have fire safety certificate in place ?
                  3. When you board a bus/train have you ask ever "Show me "Fit for road" or have asked for driver lic of driver ?

                  It's India and we assume "All is well". Kuch bhi safe nahi hai...Na ghar, road, vehicle, people. Still we are 120 crore.

                  Again, why to blame NOIDA authority ? Why not people refuse to buy where height is more than 10 floor ?

                  Best would be all builder should charge Rs. 5 towards building a Fire Station/ Fire tenders in NOIDA which can reach till 25th floor. It will generate billions and again attract corruption.

                  Best tool : RTI : Can some/you file a RTI in NOIDA authority about fire safety before allowing "No height limit".

                  Comment


                  • Re : Lotus Panache by The 3C Company in Sector 110, Noida

                    Originally posted by chandra2034 View Post
                    Dear Abhay,

                    Cool down....land is limited and agree you on point of fire safety. Atleast safety device and infrastructure will be created in new buildings.
                    Regarding how many earthquake hit Delhi in last 50 years ? You can not live in fear that earthquake will destory everything.

                    Ask these question yourself :

                    1. Office where you work, have you seen any proof/ certificate of earthquake resistent structure ? Moreever before joining your office have you asked for it ?
                    2. What about fire safety ? Are you sure your office, places you visit often have fire safety certificate in place ?
                    3. When you board a bus/train have you ask ever "Show me "Fit for road" or have asked for driver lic of driver ?

                    It's India and we assume "All is well". Kuch bhi safe nahi hai...Na ghar, road, vehicle, people. Still we are 120 crore.

                    Again, why to blame NOIDA authority ? Why not people refuse to buy where height is more than 10 floor ?

                    Best would be all builder should charge Rs. 5 towards building a Fire Station/ Fire tenders in NOIDA which can reach till 25th floor. It will generate billions and again attract corruption.

                    Best tool : RTI : Can some/you file a RTI in NOIDA authority about fire safety before allowing "No height limit".
                    Talking about fire safety, most of the appartments in Dwarka and Mayur Vihar are yet to get the fire safety clearance from the Fire Department. Ppl have been living in them for the past 10-15 years!

                    check out the fire safety at our Metro Stations/Railways Stattions/Malls/ the fire extits/emergency exits genrally have a huge lock outside them!

                    Comment


                    • Re : Lotus Panache by The 3C Company in Sector 110, Noida

                      Originally posted by chandra2034 View Post
                      Dear Abhay,
                      Regarding how many earthquake hit Delhi in last 50 years ?
                      You can not live in fear that earthquake will destory everything.

                      Ask these question yourself :

                      1. Office where you work, have you seen any proof/ certificate of earthquake resistent structure ? Moreever before joining your office have you asked for it ?
                      2. What about fire safety ? Are you sure your office, places you visit often have fire safety certificate in place ?
                      3. When you board a bus/train have you ask ever "Show me "Fit for road" or have asked for driver lic of driver ?
                      Answer to all these questions is - When I step out for work, I don't want to leave my family(include small kids/old age parent) at such house which has low probability to exit safely in case of fire/earthquake.

                      You're right. We may not have much choice in choosing our office based on building safety norms but yes we do have abundance choice now while selecting an apartment to live in.

                      Comment

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