Is that this 30% would only be demanded by builder when project becomes bankable

Q: Hi there, I have booked a flat in Mahagun Mywoods a few days back when NCR plan gave green signal to Noida Authority. But some dark clouds again came on Noida Extension. Now my query is I have taken flexi-plan and done 10% payment to builder. In flexi plan is was written that 5% I need to pay within 30 days of booking. And then 30% within 45 days. I want to know that this 30% would only be demanded by builder when project becomes bankable or not. Please confirm. Thanks in advance. Cheers!!!

KetanKhurana, Apartment Resident, Delhi

16th September 2012

Other in Mahagun Mywoods, Sector-16C, Greater Noida

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Replies (3)

Yes, the builder can only demand 30% when the project becomes bankable.

Kunal, Hyderabad

17th September 2012

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Thanks Kunal,

KetanKhurana, Apartment Resident, Delhi

24th September 2012

In regard to Noida Ext no builder is demanding payments as of now and in case you have made 15% booking they cannot cancel your booking. If you want you can take help from your legal expert also.

Adesh, Shimla

17th September 2012

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Thanks Adesh

KetanKhurana, Apartment Resident, Delhi

24th September 2012

As per my knowledge, no Builder until approved by the Bankers can demand more then 15% normally . 15% anyway needs to be paid by the buyer itself and only then bank can finance a property.

rahul, Bangalore

17th September 2012

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