[Resolved]  Jaypee Kosmos — Without construction plan approval booking of flats

i have booked a 3 bhk in kosmos in aug .. i received the allotment letter on dec 5 2009, ... there they have written completion date as 3 yrs from issue of allotment letter .. i dont see anything fishy in allotment letter .unit number and tower number with tower orientation clearly mentioned... i have applied for partial down payment plan... have to get further 22 lakhs financed from bank ... can anyone tell the bank approval status from hdfc or other banks ...?

We have a yahoogroups Jaypee_greens_kosmos which has a good strength (>50) and we keep sharing/discussion the topics you raised. Request to all to join the group and can decide on group actions to get answers from Jaypee.
http://in.groups.yahoo.com/group/Jaypee_Greens_Kosmos

I had booked a 2bhk in Jaypee Kosmos in Oct 09. I received the receipt and allotment letter from them and have been alloted in Tower 30. Subsequently, I have got this financed by ING Vysya in the construction linked plan. I do not see anything fishy uptil now.

I plan to visit the site soon th get a firsthand report of the progress. Apart from the Yahoogroup, is there any website where we can track the site progress and news related to this project ?

Hi, tower 30 is in excavation mode and construction is on. as far as partial down payment is concerned, hdfc is not funding on all the towers. hdfc is funding only few towers on pdp. i have got in tower 56, but hdfc is denying to fund pdp in tower 56, saying the digging has not started in tower 56 even. initially they (jp) say all the payment plans qre being funded by banks but when you actually proceed there emerge problems. i think they have issued allotment letters to phase 2 bookers but with phase 1 payment dates which banks are not agreeing.
will appreciate updates.

I have also booked a flat in JayPee Kosmos in October. Before I get my allotment letter I got my loan sanctioned with HDFC but the problem is still same. As the construction has not yet started HDFC is not ready to disburse the loan amount.

I am also worried about the completion of flats in 3 yrs.My tower is 45 if any one get update please post it.

Switch the bank. Other banks are funding on complete projects. e.g. ING, IDBI funding even before starting of production also. I got switched from HDFC to ING

Rahul what if I don't want to switch the bank? will JayPee fine late fee?

Friends, If you are into jaypee's KOSMOS then there are chances that you are trapped.

They have started excavation for some towers. Towers 45 & above are in big soup. No progress expected in near future dur to some disputes.

All towers of KOSMOS HEIGHTS ( 23 to 26) are also in big trouble. They have not started even the excavation.

Not issuing allottment letters also. So, if you are into any of these towers ( 23 to 26 & 45 to 80), so don;t expect anything for next 2 to 3 months.

I've also booked Jaypee with option of 4+1 and this is in tower 23. Above statements are quite worrying. I've opted for downpayment option and have sent my loan requisition to HDFC, and the same is in process. But now seeing the comments I'm totally confused if actually I should be going in with down payment option at all.

Also as we were promised that construction will be complete by 2012 and there will be penalty which Jaypee will pay us in case of delay. I'm not sure if any one else has the same information as I have not seen this committment in any document sent to me.

Please advise.

Dear Ajay... There are lot of customers like you who are much worried with these facts... these jaypee kosmos customers have formed a group and the member list is increasing day by day... members are now planning to meet jaypee officials for these issues... i suggest you also join this group... Its on yahoo groups... go to google search... search for yahoo groups... enter jaypee kosmos in search & it will take you to the group... you can join this group & it will cetainly help you... regards... Nilesh

Can anyone tell me whether all statutory approvals are in place for Jaypee Greens Klassic. As I have been told by some body that the construction plan of the towers is not yet approved.

I have also booked a flat in JP Kosmos. I have the allotment letter. I guess these are being distributed on basis of which towers will be constructed first. I am in Km-30

Hello All,
Me and my friend book flat in KE 44 and KM 52. All mosr 20-25 days ago i visited the site and found that area which they are saying golf course are which include KM 50 onword flats are not yet started any thng but i asked one engg and cmae to know that in next 10-15 days work will start .But other part of Kosmos i can see good improvement .Hope for that best.

you can join the communities "Kosmos JP" created by me.

I HAVE BOOKED 2 BHK FLAT IN KINGSTON SECTOR 133. I WOULD LIKE TO KNOW SO FAR ANYONE HAS RECEIVED ANY COMMUNICATION FOR JAPYEE.

Friends, If you are looking for Home Loan from LIC Housing finance, Please contact - Sukesh Sinha [protected]

Hello,
I am a bit worried having read through all the correspondence on jaypee kosmos and the potential problems that have been highlighted.
I have booked a 4+1 option in jaypee kosmos heights and have recently received a provisional allotment letter. can someone please clarify -
(1) Are there any obvious problems/ land disputes with this project.
(2) Is tower 79 on hold ?
(3) Have Jaypee ever delivered their projects on time ? I've been told that project would be completed in 36 months and beyond that there is a penalty clause whereby jaypee would pay the buyer back @ an agreed rate.
(4) Are the banks financing this project ? are the banks financing down payment option ?
(5) Is there something that all buyers of kosmos/kosmos heights sector 134 must be aware of

Any valuable information on this project would be much appreciated.

regards

Dear sanjeev, its true that there are some serious problems with some of the towers of Jaypee Kosmos.

I am sorry to say, but as of now all towers above 72 are in trouble. Some more may add to list. This the jaypee employees will never confirm but some speculations are there in some forums & this seems to be true also. On physically seeing the Kosmos site, anybody can understand that it is not possible for any builder to accomodate 30 towers ( tower 51 to 80) in such a small land. Towers 1 to 50 are nicely placed & conformtable. I am also a customer of jaypee kosmos & i believe that there is really some issue. I suggest you follow-up with the dealer thru whom you booked. Abt bank loan, yes several banks are funding it in DP also (IDBI, ING VYASYA, HDFC, ICICI, SB of Indore, etc) but DP is tower specific. Not all towers are getting DP option.

Hi Sushant, Jaypee have clarified there are no issues/disputes with the KOSMOS project. There are a few towers that have been relocated a bit due to their proximity to high tension wires ( 75 to 78 ) and ground/proximity clearance
Tower 79 & 80 are not impacted by any of this due to their location and the excavation work has started last week. Banks are infact financing DP on this tower now.
allotees from towers that were relocated have been offered a choice in Kensignton Heights which again is a bigger and better project. They also have a choice to opt for refund if desired.
All is well with the KOSMOS project. hope this gives a sigh of relief to everyone.

Cheers
S

I too have booked and my broker is chasing me for documents without proper feedback what is actually happening.

There has been no concrete information from the broker.