Hi,

Any Views on Jaypee Kensington Park in sector 133?
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  • Is it good to invest in this project?
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  • I am interested in buying a plot. Is it a good investment?
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  • Any comments will be truly appreciated.
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  • Very good price for Kensington Park apartments at 2790/ SqFt plus discount.

    If looking for 1050 SqFt or 1450 SqFt apartments, I would recommend Kosmos, 1150 SqFt and 1310 SqFt apartments despite higher price of 2970/ SqFt plus discount.

    At 1150 SqFt, Kosmos gives higher carpet area and a 3 BHK, while at 1050 SqFt, Kensington gives a 2 BHK. It is worth the higher per SqFt price and larger area.

    At 1310 SqFt, Kosmos has almost the same carpet area as 1450 SqFt at Kensington. The price will come to the same because of the rate and area difference.

    Also, location wise, Kensington is better than Kosmos, being next to the flyover entry for JP, while Kosmos is at extreme end of JP land.

    Layout of towers is better for Kensington, it is less of concrete jungle than Kosmos.

    Strategy wise, Kosmos is much better. Digging has started and the project is likely to go through.

    Kensington might face delays since there have been huge number of launches in this area. In case of a problem / slow down / recession, Kosmos is a much better option. Kensington towers may drag on for years.

    Overall, I would recommend Kosmos over Kensington apartments.

    Kosmos heights is sold out, so Kensington Heights is a good option if you want a 1800 or 2100 SqFt apartment. The price at 2970/ SqFt plus discount is almost as same as Kosmos heights. Floor plans are good.

    Kensington plots are over priced at 42500/ SqFt plus discount. Price is fully valued for the location premium.

    Not worth short term investment. In case of slow down, it will become like BPTP Parklands where people bought at 14000/ SqYd and sold at 10,000/ SqYd when they could not bear the EMI.

    I don't think it will be possible to sell the booking at a premium, in case of slow down. I anticipate housing loan rates to rise over the next 3 years. So buying a plot on loan will affect returns, since purchase price will become >80,000/ SqFt, including interest on loan.

    Plots at Kensington are fantastic for long term (10 - 15 years) buy and hold. I anticipate 15% yoy appreciation of land prices over a 15 year period in keeping with inflation of 10 - 12 % per annum over this period. Your returns are likely to be more than 15% PA rather than less over this period, might be super fantastic in case of hyperinflation. Location is truly fantastic and worth the premium for own use also.

    Very good for own money / black money investment.
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  • Hi

    Can anybody tell me what is the price of plot after discount. What is the approximate amount that needs to be paid for PLC etc

    Regards

    Narayan
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  • Thank you Venkat for your precious comments
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  • price of plot is 39000 psy.
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  • Kindly Advice on Japee Greens Kensington Park

    Hi Venky

    I have booked a 4BHK Kinsenton Park Appt. I am living out of the country & looking for a good place to live when I come back. Hence one of my friends suggested Japee Greens Kinsenton Park..

    But From the reviews I read now I am a bit worried about the project ..Can any one tell me what is actually happning ..I still have the chance to hold the booking amount cheque.. One more reason why I am getting bothered about this project is that the broker have taken the cheque on 24th Jan and has still not produced the cheque nor has given me any kind of confirmation regarding my booking & the choice of appartment.

    Subham
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  • Shubham, what are you worried about? Whether it is agood place to live or whether you will get your home?

    Well if it is the latter, then dont worry you will get your home however there will be delays but since you are not living in India, I believe a delay in the project really doesn't make much of a diference.

    I am in the same boat, I live outside India too and I bought a house that was due possession in Dec, 2007. I'll get it in Jun 2010 but I am not worried coz the project is almost on completion. The towers that have been given for possession have already been occupied and the flat is exactly what I had booked, so no changes in specifications either.

    On the contrary I was more than happy that I got a delayed possession since that saved me the monthly maintainence cost as well as the builder as agreed to invoke the penalty clause and hence deducting the money from my final payment for the delay.
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  • This means broker has still not deposited the cheque with Jaypee Infratech. Usually they deposit next day at Jaypee and acount is debited within one week.

    How reliable is your broker? Right now you have no recourse with Jaypee, you have only broker issue.

    As blueskyliner says, some delay is not an issue for you. There is no need to worry about late possession - such big companies do not go into total default or become bankrupt - the businessman involved is a biggie and will totally lose face and standing in the business community if he allows that to happen.

    On the other hand, small builders without other businesses (say ATS, Gaur sons etc), if they get into trouble, can go bankrupt and total default on commitments. Then buyers have no recourse except to form a society, take over the project and try to finish it on their own.

    Or so I think



    Originally Posted by subham
    Hi Venky

    I have booked a 4BHK Kinsenton Park Appt. I am living out of the country & looking for a good place to live when I come back. Hence one of my friends suggested Japee Greens Kinsenton Park..

    But From the reviews I read now I am a bit worried about the project ..Can any one tell me what is actually happning ..I still have the chance to hold the booking amount cheque.. One more reason why I am getting bothered about this project is that the broker have taken the cheque on 24th Jan and has still not produced the cheque nor has given me any kind of confirmation regarding my booking & the choice of appartment.

    Subham
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  • Blueskyliner

    Thanks for the reply..Ya I am bit of worried about the possesion issue & seeing to your condition I can only hope that every things go well for me....

    Subham
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  • Dear Venky

    Yes the problem is that I am dealing with a Broker who claims to be the retail sales wing of Jaypee Group..

    Jaypee Greens Boutique
    M-58, M-Block Market
    Greater Kailash - II

    I have given a cheque on 24th Jan & it has still not been deposited, please advice what should be done for this issue, Is there any body who will help me in Jaypee on this issue ??

    Subham
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  • Unfortunately, the so called Jaypee Greens Boutique is actually Om and has nothing to do with Jaypee. Somebody has to visit the office and personally see to it. Long distance will not work.

    Easiest is to stop the cheque and be done with it.

    Originally Posted by subham
    Dear Venky

    Yes the problem is that I am dealing with a Broker who claims to be the retail sales wing of Jaypee Group..

    Jaypee Greens Boutique
    M-58, M-Block Market
    Greater Kailash - II

    I have given a cheque on 24th Jan & it has still not been deposited, please advice what should be done for this issue, Is there any body who will help me in Jaypee on this issue ??

    Subham
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  • Stop the cheque or your money is gone

    I have burnt my fingers after dealing with Jay Pee in their Garden court project at sec 128. I also live outside India. My honest suggestion is to immediately apply for stop payment of your cheque and apply a new project in Sec 110 3C Lotus Panache. Believe me...you wont regret your decision.

    I am sure Panache will give the possession within 2-3 years and good returns if sell later. Already they have increased the rates by Rs. 75 (Launched at 2975/per sqft and now it is Rs. 3,050. I have already earned (on papers) Rs. 2 lacs on 2 flats booked of 1400 sq ft flat.
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  • An internal source from JP has indicated that Kensington has sold very well, over 1000 flats are booked. So risks appear to have receeded for Kensington also. I have no independent confirmation for this though.

    JP is apparently coming up with a new more luxury launch between Kensington and Pavillion court.
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