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BPTP - Top league developer ??

Posted By Jeetender Gupta on Feb 02, 2010
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BPTP - Top league developer ?? 

BPTP emerged as a noteworthy player in Real Estate after announcing a township in Faridabad in 2005.

BPTP has been in news for Noida commercial property auction, Citibank stake picking, IPO Filing etc. etc

BPTP has residential projects in Faridabad, Gurgaon and commercial projects in Faridabad, Gurgaon, Noida and Delhi.

BPTP Parklands, a proposed 1500 acres township with plots, group housing, floors, villas and commercial sub-projects.

Time and again BPTP customers have been raising voice over various issues.

Mismanagement, planning lapses, higher wastages, non satisfactory customer care are some key issues.

Inspite of all this the company keeps moving forward and their new projects get oversubscribed.

Company is largely responsible for bringing Faridabad especially Neher Par region on real estate investors radar.

While the Company through its staff and dealer network tries to pitch iteslf in the top league developers in the belt.

A question was raised on Indiaspaces whether BPTP could be compared to top developers like DLF etc ?

Creating a blog to seek views of others on the forum was also suggested.  

Based on the response we are creating this blog, please share your views, feedback and experiences.

Please try to be rational and objective. Avoid derogatory or offensive language.

PS - Indiaspaces would not be liable for views expressed on this blog and reserves all rights to edit or delete a blog   


Recent Comments

BPTP - Top league developer ?? View Resale option
 
Cremation Ground
Posted by Dhiraj 28 Mar 2010

I find a Cremation Ground just within the BPTP housing plan in sector 82. Disgusting. Is BPTP doing anything?

Reply: it is around which block. we will try to find out
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cremation ground
Posted by d.sengupta 18 Jan 2011 
A cremation ground is located just touching N-Block, Sector 82, BPTP PARK ELITE FLOOR FARIDABAD. Is BPTP doing something to demolish it? Will the cremation ground remain forever

BPTP - Top league developer ?? View Resale option
 
What is BPTP upto ?
Posted by Rohit 22 Feb 2010

Interesting U turn seems to have happened atleast in terms of BPTP. They are on their toes for the construction or atleast start of it. Princess,Granduara,Villa,Park Floors,Elite Floors and now Park 81. I had been positive on the bptp from the beginning however never expected this kind of spurt of activity from their side. May be this is something to do with their IPO they want to showcase what they have built. Another important issue of development by HUDA still lurks around according to RTI almost 4 years till it would have all the amenities to make this area bloom, till then it would largely on the developers to provide the basic infra to make it livable

Reply: Thanks for your feedback. More than IPO, the possession on their side is due for most projects also else they would have to incur penalty cost as per agreement, so they would have that in their mind as well. Also you cannot raise more installments unless fresh stages of development happen and since no fresh bookings are happening source of revenue would be installments only
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BPTP - Top league developer ?? View Resale option
 
Park Prime Sec 66 GGN
Posted by Amit 17 Feb 2010

Need to know the views on BPTP Park Prime project. Also, on BPTP as a company. Recently I've invested in this project and there have been few noises on the credibility of this company and missing their timelines on existing projects. Your views ?

Reply: i dont see any credibility issues with bptp and by large their timelines are also in line with other developers and projects. floor plans remains one of the major concerns. Location is okay but would need time
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BPTP - Top league developer ?? View Resale option
 
BPTP
Posted by Arun Kumar 09 Feb 2010

I have plot in BPTP Parklands. Do you think BPTP will be able to deliver this Project of 1500 acres. Can we trust on the credibility of BPTP after reading all this and considering the EXTREME SLOW construction progress going on within BPTP Parklands. Do I need to worry about that I may end up as a loser. This is a very BIG money for me and I get SCARED when I read all this because it's a HARD EARNED MONEY. I am ready to wait till 2013 when the proposed development of Neharpaar area will be over. But I want to build my house in this plot

Reply: development is constantly happening on bptp and many blocks are now clearly visible in terms of development etc. some blocks are a concern presently but barring administrative issues, i have not seen an intent issue with BPTP in last 5 years. they remain credible and trust worthy
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BPTP - Top league developer ?? View Resale option
 
No delivery
Posted by Jitendra kushwaha 07 Feb 2010

Yes I cannot say they are top class, I also booked my plot 4 years back and not know what it current status. My plot is in c block. In June 2008 they said that they are going to post possession letter in 1-2 months and I have not received it yet? almost 95% of payment is done so far.

Reply: feedback noted. from my side i would advice to get site physically checked, much of c block plots are ready for possession and if that is the case maybe it is pending because of proposed edc/idc increase
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BPTP - Top league developer ?? View Resale option
 
Disappointed
Posted by VERENDER 06 Feb 2010

I have invested in BPTP Princess Park Project in feb. 2006 and till date it is in contruction phase. Builder made so many promises but never made it. As an example they said you will get possession in year 2008 and now it is Feb 2010 and construction is still going on and as per builder revised statement we will get possession by dec 2010. I have booked 2BHK with 1000 sq.ft. but when we made two payments they changed area to 1289 sq. ft. without any buyer consent which was shocking at that time but tolerated as we thought of getting more space in 2BHK :-). Today when i visited princess park to see the progress and i was shocked after seeing 2BHK flat which even does not seems to have more than 850 sq ft. i don't understand how BPTP is going to build up their repo by doing this

Reply: i have given my views on the subject earlier also. we have always been critical of floor plans infact we were the ones who highlighted the highest level of wastage in the project. possession expected within 2010.
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BPTP - Top league developer ?? View Resale option
 
BPTP Plot location Uncertain
Posted by Raghav 05 Feb 2010

I didn't buy any other property from any builder but the experience I have with BPTP is totally unprofessional. They have collected 95% of payments for plots and it's been 4 years when I booked plot but no sign of plot and no development in the area. I will think 100 times before I put my money in any of BPTP project in future

Reply: Thanks for your feedback. what i did not understand what whether you have got a unit allotted or not so far and if yes then what block. if it remains unallotted after 4 years, it is really something, but if it is a connectivity issue for a particular block then I would see it is routine delay in line with other developers including top league.
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BPTP - Top league developer ?? View Resale option
 
parkland payment plan
Posted by Sanjeev Sezwar 05 Feb 2010

Hi Jitu ji, BPTP has collected 95% money for plots in H and other blocks and nearly 4 years and there is no sign of development on site. How do u see this practice of collection of money without doing any work in block? If they have collected 95% money, they should be liable to pay penalty if possession is not given within 6 month

Reply: in plotting much of work is done below the ground like sewerage, pipe lines for water, water tank of township, electricty poles and lights. and the moment road connectivity is provided, the plot is ready for possession, there is no above the ground structure that would be visible. so one needs to establish whether the other things in the block have been done or not. for all your technical replies the builder buyer agreement is the referring manual. BPTP had very clearly used a clause that payment as per plan could be called for a unit even if development reaches any other part and not specific to the unit. for possession beyond the maximum permissible time the PLC would also be specified. the people who signed that agreement then (thousands of them) did not bother about the clauses then.
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BPTP - Top league developer ??
Posted by Akhil Garg 05 Feb 2010

Hi Jitu ji, as per your reply on previous comment BPTP had very clearly used a clause that payment as per plan could be called for a unit even if development reaches any other part and not specific to the unit. are they generally using this clause for all their projects in neherpar area? if yes then i dont think BPTP is a reliable/Top developer. I have been alloted 300 SQyd Park Elite Floor in H block and it means they can ask for next payment on the basis of construction going on in A and B block. A good Developer should not do this. Also if we found any such clause in builder/buyer aggrement, then it could be challnged or not before signing the agreement? Please suggest

Reply: so far they had used or rather misused the clause only in case of bptp parklands faridabad i.e. Plotted development. However. For floors i have not seen the agreement, i doubt anyone has received it. Till then i dont see a reason to comment
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BPTP - Top league developer ?? View Resale option
 
DLF vs BPTP
Posted by Sanjeev Sezwar 02 Feb 2010

Dear Jitu ji, When I was looking to buy property in faridabad, many people were compairing BPTP to DLF saying the way DLF has created Gurgaon, BPTP is going to change face of Faridabad. My question are 1. How do you compare them in terms of Quality, Project execution and customer care? 2. What is the actual Image if BPTP now in the market? 3.Are people confident about the company? 4. Do u see BPTP to come up as big and comparable to DLF? may be you can create a seperate blog on this topic to get views of other people. Thanks

Reply: The blog has been created as suggested. let us wait for replies instead of me influencing them. I dont feel it is fair to compare two developers. The problems are common to all developers. I personally dont see any confidence issue or even quality issues as such but yes floor plans particularly of flats are not too appreciable. other developers have better plans for lesser saleable areas. however several plots, villas and towers in princess park and grandeura faridabad and park life gurgaon are nearing possession. so they are working at ground level as well. BPTP has a great future but they need to work on their present first.
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