Jaypee KOSMOS is it a good buy?

[Anupam Mittal]

Group,
 
I needed a advice from you about the residential project from Jaypee along the expressway. This project is called Jaypee greens Kosmos and lauched recently. They are offering apartments at the rate of 2825 psf. These apartments are going to come in around sec 129,130 and 134 of NOIDA.
 
What is you view on this project? Is it a good deal? any other information which is not in public and Jaypee is hiding from the buyers? any clue about the previous launches Aman and Klassic?
 
Can you please share any info which is going to affect my decision of buying the property in the project?
 
Thanks in advance.
 
Anupam

[ArnabMukherjee]

Anupam,
Is this an investment property ?
If so, do you see the rate of sub 3000, becoming 6000 in next 5
years ?

If you dont feel that rate will hit 6000 then don't go for it. Also
remember there will be a recurring maintenance charge of 2K every
month (after the physical allotment).

If I were you, I would wait for few years to let the construction
complete ('RE you can see') and then pay 4K / SqFt. Earn 9% interest
from a fix deposit over 5 years.

My 2 Cents.
Take care,
Arnab

[Anupam Mittal]

Thanks Arnab for the prompt reply.

 

This property I am planning for my own use, but at the same time I am looking for good capital appreciation on the longer term basis.

>>If so, do you see the rate of sub 3000, becoming 6000 in next 5
years ?

 

I am not sure about numbers but location of property is good. It is on NOIDA - Greater NOIDA expressway and I think once NOIDA and Indirapuram in Ghaziabad will be crowded this area will start picking up in a big way.

 

I was wondering a aprtment at the rate of 2825 psf on a land with the market price of 25000-30000 psm is a good deal?

Is there any crude way to measure this?

 

Thanks,

Anupam

[arnab mukherjee]

If it is your primary residence, then go for it. Quality of life is very important which JP properties offer.
Rs25k /SQM I doubt JP paid. I guess would be not more than 5-8K/SQM. JP is the king of the area and has lots of land on PPP basis.

[deepak dewan]

hi anupam,

multiple the sq feet by 9 and u will get the sq m(or is it yard) eqvt!!happy calculating!!

deepak

[Anupam Mittal]

Deepak,

 

I was asking is there any broad formula where in we can figure out whether a apartment price offered by a developer is worth or not .

 

Thanks,

Anupam