Q:
Has anyone booked a 2 or 3 BHK apartment in Ozone? I visited last week and the quotation is 2990/Sqft, with a premi payment option by the builder to the bank till possession-
For a 2 BHK - I need to pay the builder approx 7 lacs today. Till the possession which is Dec 2014 as of now, the builder will be paying the interest to the bank. Me paying nothing. The banker explained me that I would save approx 6 lacs of rupees for 2 years by not paying EMI. And I can invest it somewhere else and get returns. Looks lucrative.
Do you all see anything fishy over here?
Also I have been 2 times to the site. I do not find any labours or any work going on. Did anyone else see any development?
Did anyone book a flat at ozone recently? AT what price?
Hi all.. seems that the builder needs liquidity .. that's why this scheme.. the offer looks good to me.. but only if the rest are all clear..
Dwarkesh. Even I feel the same and the project is tempting. But I find raings given by CRICIL and CARE bad. Not sure if that needs to be considered. How good are these agencies? Also I find teh feedback from Existing customers(OZone green- Different project) very bad. That makes me rethink.
http://www.careratings.com/Portals/0/Rating%20Statistics%20Regulatory/6.2.2(c)October2011-March2012.pdf
http://crisil.com/Ratings/RatingList/RatingDocs/ozone-urbana-infra-developers_19may11.htm (2011 rating)
1st October 2012
Hi Roshan, what is the total cost you will have to pay.. and what will be the payment plan exactly?? I mean if you pay 7 lakhs now, then what remains and when it has to be paid?
Total cost 35 lacs. 7 lacs now. rest of the 28 lacs as part of Home loan from HDFC. My loan will be approved today but my EMI will start only after possession of the flat. It will just be a regular homeloan of whatever tenure I choose.
1st October 2012
Have you checked whether if you pay that cash now then immediately will you get sales deed and all documents.. BY the way, did you verify all the documents related to land, CC etc.?
It is an appartment. Good point. I think should egt my sales deed. ONly then bank will approve my loan and I can avail this scheme. But will check. Googling around I found, CRISIL and CARE provided bad ratings to this builder. That worries me.
1st October 2012
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