Jaypee Greens has launched the project Aman on May 27, 2009, this 70 acre project is having 2/3 bed room flats of 850 – 1350 Sq.Ft, 9 hole golf course, at only Rs 2250/Sq.Ft possession will be given in 2012.
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These offers look very attractive, attractive like a carnivorous plant - This attracts its prey with color full exteriors by show casing itself as most beautiful flower of the town.

Two three days ago I received an SMS on my , about the price and area of the flat. I was surprised with the offer. In a time where other builders are offering flats at higher rates, why these people is so benevolent on their customers?

Through my search for fact I was left with some unanswered questions, which made me sure that some thing fishy is going on in this project.

1. My 1st question – why any body from Jaypee is not involving in the deal?

The very first thing that I noticed was, no body from Jaypee is directly involved in booking and providing information on Jaypee Aman. I called up at Jaypee office and after transferring my call for 5 times they asked me to drop my Number, They will call me back.

I got a call from a guy named Vikas, on enquiring him I found out he is not a Jaypee employee but a broker.
I searched on net for any contact no of marketing personals of Jaypee Aman but that led me to a failure, every time it was a broker on the line.

“No body gave me the number of the Jaypee Marketing Exc or manager”

2. Why every one is confused about the No of units of flats in 70 acre land?

During my conversation with brokers, I found that all brokers (almost 5) told me different numbers of units. The data was varying from 1200 to 3000 units of flats. These variations directly relates to the authenticity of its Legal and Technical Papers, these rise the questions –

“Do they have approved Map for the project?
If yes than why they are not sticking up at a definite number of units?”

“If they don’t have papers than, how can they launch their project and ask for the money?”


3. Conversation with HDFC bank.

A customer care executive of HDFC bank confirmed me that, papers of the property have still not passed by the Noida authority till 27th May 28, 2009.


4.Payment Plan for the Jaypee Aman.

· 20% of Basic amount + IDC within 2 months of Booking.
· 10 % of Basic amount within 4 months of Booking.
· 10 % of Basic amount on Excavation.

They are collecting 40% of basic amount before the excavation?
How much will be their investment into the project?
At what stage of development will they ask to bank for finances?

5.Loading on super area.

There is loading of 20% in the super area - as I was told by the broker but my calculation shows loading of 38%.

6. Construction of yamuna express way.

The whole story started with this only, the land on which they are building the Project was allotted by the government as a payment of much hyped Yamuna Express Way – to connect Greater Noida to Agra – the project was launched in April 2001 and it was about to complete in 4 years, But it has constructed only 25 Km out of 215 Km. in 9 years.

Are they liable to construct on the land, they are given as a payment of Express way which is not even 50% completed?

What if government asks to stop this project in mid way?

Who will be responsible for the money of customers? Brokers who are indulge in the deal or the company which is indirectly collecting money from the market?
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  • jaypee

    hey pallavi, im from from bengol , i planned to invest in jaypee Aman , and its true to say that they have started booking 1 months earlier, i was not aware of this pre launched trend, but thank god due to some other commitment i had not invested in that project.
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  • ha ha i had save myself from JAYPEE

    Ohhh... gr8
    Same from my side also
    I'm watching this activity from the last one month
    These people are taking the help of brokers for selling their project.....
    Not a single executive from Jaypee is collecting the cheques.....
    Only the dealers and agents are involving in this project which gave the hype to this project....
    Well In this recession dis is a Gr8 achievement for JAYPEE to pick out money from the pockets of People
    But...........
    Side by side Jaypee Had made people fool.....
    till now no papers of Jaypee have been approved .................
    And Yamuna express Way which was built up upto 65kms acccording to JAYPEE reports within 10 yrs..........
    So, dat also a gr8 acheivement
    So think before achievement
    SAMJHDAR KE LIYE ISHARA HI KAFI HAI:p
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  • Media Is Not highlighting the JAYPEE AMAN case??????????????

    Hi,
    I want raise a question in this about Jaypee that .....
    Why Media Is not looking upon this case seriously.....
    I want that general public will raise this case to the tip of Everest so that the Company Like JAYPEE who has easily pick out the money from the pockets of people should disclose all their plans about their project.....
    Because i think that these People are doing something wrong in this case
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  • Jaypee aman.............

    Originally Posted by akashganguly
    hey pallavi, im from from bengol , i planned to invest in jaypee Aman , and its true to say that they have started booking 1 months earlier, i was not aware of this pre launched trend, but thank god due to some other commitment i had not invested in that project.


    Dear Mr Akash,

    its reminds me of Sourav Ganguly. so are u his relative from Kolkata?

    Here the forum actually have discussed all about the generalised on going trends of the real estate market and various malpractices which a developer/builder are putting up for earning more revenue.

    First of all, let me say that I personally got involved in this discussion because I find this healthy and brings awareness. Secondly, this is not a ‘I hate Jaypee’ type of forum and site. The land Jaypee is using to build various low cost houses are actually the part they got free with the land to build Ganga-Yamuna Expressway. We have no problem with that, as Jaypee has the right to do business and earn profit suitably. Now the part where I see the problem is that Jaypee doesn’t have a clear map approval, i.e. an entitlement to sale – ‘launch’ as per Honb’le Supreme Court order.

    Now, 90% of Indians want a new, luxury, cheap house for them. Ask them about legal and technical papers, nobody have any idea. Now, the brochure or marketing details are not any legal authentic paper of a builder (and * mark in a brochure indicates all things mentioned there may vary as necessity).

    Jaypee has a good reputation and everybody know that JAYPEE ASSOCIATES have made the name over the years through performance. Now, the amount of money they have collected (Rs 33 crore) in a day (as per their advertisement in a daily) is to be used for what? They do not have a map approval yet. Obvious they won’t keep the money stagnant. A man, who understand least business, knows how to rotate/circulate money for more business generation.

    So its your money which is used by somebody for their own profit, without informing you. Would you allow the same thing to you relative or your junior (in your office)? Jaypee has a number of project and business and your money may be suitably used. Did any of the 3300 customers made an effort to go Noida Authority to seek when will the map of Jaypee be tentatively approved?

    May be DLF, Jaypee, Ansal, Omaxe are big group, but we are persons who are motivating them to do as they wish. Do you know when the construction is starting? Ask Jaypee, what will they do with the booking amount, if they are not starting a construction now? I’m sure, you won’t have an answer, because you can’t prove you are a customer. First, booking amount cheque has been collected by the Dealers/ Associates, Secondly, they didn’t give you a stamped money receipt.

    Keeping mum like this, when will you be sure that the project has been approved? when the customer care of bank gives you the loan approval (memo) no. or when the loan is issued. May be Jaypee AMAN’s possession will be right in time, keeping in mind their all previous projects, but there is no point in supporting this process of breaking rules, when the rules had been set by the Judiciary system of the land, keeping in view of better and efficient management of economy and benefit of the people.

    So its us, who should restrain ourselves, for supporting the govt and legal system to work smoothly. Otherwise the rate of real-estate fraud will remain like this only, and people / tax payers like you will suffer and put all reason for your sufferings as inefficiency of govt and state administration, when actually you are the real miscreant.

    JAGO real-estate GRAHAK JAGO
    ]http://www.businessworld.in/index.php/Infrastructure/Setting-Standards.html
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  • great post Udayan.giri! The indian property market is a totally unregulated. The govt provides no buyer protection even though it collects the hefty registration and stamp duty costs!

    The risk is entirely of the buyer's... do not throw your hard earned money without a proper due-diligence!
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  • Thanx for the information. But why go for JP...just because the address reads"NOIDA"...the location is just 3 kms from Graeter Noida on the expressway...secondly they are offering it at Rs. 2100/- per sq.ft+ misc charges ..the total comes to Rs. 2500/- per sq.feet....In sec-119 Just 4-5 kms from city centre Eldeco & Gaur are offering a deal at Rs. 2500-2700 per sq.feet inclusive of everything...They have done the construction till 5-7 stories...projects are approved by Noida authority. Moreover PSU banks like SBI & State bank of Indore is also providing the home loans...What do u say?
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  • hmm

    very logical....
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  • 1L booking amount debited, no response.

    HI,

    I GAVE 1L BOOKING AMOUNT cheque IN JAYPEE AMAN

    The money has been debited from my account. Whenever I call them, AM BEING TOLD THAT THE ALLOTMENT WOULD TAKE TIME, AS NOW JAYPEE GROUP ARE DEPOSITING THE CHEQUES IN THE BANK AND ONLY ISSUING ALLOTMENT ONCE THE BOOKING AMOUNT IS REALIZED.

    Also they say that there are 5000 cheques recieved whereas there are 3300 flats.

    So they have taken amount for 3300 cheques. Now they would do lottery system for alloting the flats.

    But do not know what's going internally..

    Rohit
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  • Rohit here is what would be recommended:

    1. Call Jaypee Aman from a cell which can record calls, take a call recording of what bullsh** they are telling you

    2. Now call up all news channel (preferably India TV, Aaj Tak, Zee news) and tell them about the open cheating by these builders and give them the call recording...

    Let them defend themselves on the national TV in front of the wider public...

    Do not let your hard earned money be played around by such people.
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  • Need carefull attention

    I want ask one thing in this discussion that.................
    Why we are chasing behind JAYPEE and not looking the other developers what they are doing................
    so, I want to say that be carefull of the real estate developers........
    Check the credentials of the developer before buying the property........
    Check land papers are available with him or not........
    Check list of banks associated with their project..............
    Trust on SBI.....
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  • Rightly said by Rohit

    Originally Posted by amit_2009
    Rohit here is what would be recommended:

    1. Call Jaypee Aman from a cell which can record calls, take a call recording of what bullsh** they are telling you

    2. Now call up all news channel (preferably India TV, Aaj Tak, Zee news) and tell them about the open cheating by these builders and give them the call recording...

    Let them defend themselves on the national TV in front of the wider public...

    Do not let your hard earned money be played around by such people.


    Hi Amit well rightly said by Mr. Rohit i have also invested in jaypee but now i found something wrong is there with JAYPEE AMAN........
    Jaypee guys are exploiting the market and encourage others builders to do same kind of activity in the real estate sector.......
    Just have a look what unitech is doing in their recently launched project "UNI HOMES"....
    I will definetly file complaint agianst JAYPEE
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  • New fraud captured... Still many left

    Investors take protest against builders to EOW

    Rahul Tripathi | TNN



    New Delhi: As part of his plans to settle in India, NRI Mikki Maan invested in a property at Bhiwadi. However, even two-and-a-half-years after paying the pre-launch money, Maan’s much-promised house is nowhere in sight. He is among 500 people who have now complained to cops against Noida-based Green City Buildtech. On Thursday, 50 of them protested outside the office of the economic offences wing (EOW).
    Another firm, Delhi-based AJS Builders, is also facing allegations of not delivering on their promises of homes in Gurgaon, Gannaur and Indirapuram. EOW officials said they had received more than 200 complaints against the two builders and registered cases which were under investigation. On Thursday, some investors filed fresh police complaints against the builders.
    Speaking to Times City, Maan, who invested with Green City said, “I paid Rs 2.5 lakh for a plot in Bhiwadi in 2007. The builder promised that the project would be completed soon and we will get possession within two years. But after two years, the managing director of the company started avoiding our queries. We then lodged a complaint with the police.”
    Maan alleged that the builder, who promised projects in Bhiwadi, Daruhera and Agra, did not have the requisite permission from the agencies concerned. Even the plots in question were owned by farmers, he alleged. Said Monica Saini, who said she had invested Rs 3.10 lakh in a prelaunch scheme: “We lodged a complaint with the police on Thursday. I had given Rs 3.10 lakh in January 2007 and since then have been running around the offices of the builder in Noida but they refused to return the money.’’
    To check the veracity of the allegations, TOI made several attempts to contact Jeetendra Chaudhary, MD of Green City Buildtech, but his was switched off. Meanwhile, TOI spoke to the sales head of AJS Builder, Sumit Malik, who said: “We have got the permission and clearances. The investors need not worry. We will fulfil our promises. The investors want their money back as the economy is showing a downward trend.”
    Vivek Paruthi, who works for an MNC, told Times City, “I invested in AJS’ Gurgaon scheme in 2007 and paid Rs 4.5 lakh. But when there was no response on the promised dates, we approached the authorities. We found that the builder did not even own the land.” He added, “We have also learnt from an RTI filed with HUDA that the builders did not have any permission and necessary clearances from the authorities and had spent lakhs in advertising.”
    Delhi Police spokesperson ACP Rajan Bhagat said: “We have registered a case against Green City and AJS Builders.”


    AT THE RECEIVING END: 200 complaints have been made
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  • Yesterday i called jaypee aman and asked the reason for the delay. They said that Jaypee had planned for 2700 flats. but they receieved 5000 cheques. And THEY HAVE ACCEPTED ALL THE CHEQUES. i.e. debited booking amount ( 1l for 2bhk, 1.5 l for 3bhk) from all 5000 cheques. So jaypee plan to INCREASE the capacity of flats to 5000 in same 70 acres of land.
    Is it possible?
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  • If they have not alloted any flat to you then ask them to refund your money with int.

    Dear Rohit, I can understand your feeling as I keep chatting and talking to those people who invest their hard earns money in real estate project.
    I have few question and answer as well for you,
    Did you filled up some Application Form and kept a copy of App form with you?
    Have you received receipt of cheque?
    Does your bank statement show cheque get cleared?

    If yes then you have all the right to ask for the allotment of flat or confirmation of the same otherwise they should refund your money. On the other hand they have confirmed that they are coming up with 3300 flats and as per their advertisement they have closed the booking as the all flats are sold.

    So Rohit, I do not know whether you talking to company representative or to broker, if a broker is interacting with you then you should go to the company and talk to some senior there. If the company people are telling you that they are increasing the number of flats then ask them to give in writing everything including how much time they will take to allot a flat to you. If they issue a Posted Dated Cheque then ask for interest amount. But I recommend you to be after these people, either get a flat allotted in your name or ask them to refund your money.

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  • Cheque debited no recipt

    the cheque has been cleared, 1l amount has been deducted in 1st week of june. but till date no response from jaypee.
    is somebody else in same situation? what to do -- wait or react?
    rohit
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