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?
I have, the experience with the builder and the Bank has been somewhat difficult because we are overseas. It is best for you to see the site first, ask the customers (if any on site) and also write down all the questions you can think of and sit with the builder and talk to them. Given a choice, I would have gone for a completed project instead of planned project. because there are some many unknowns.I have, the experience with the builder and the Bank has been somewhat difficult because we are overseas. It is best for you to see the site first, ask the customers (if any on site) and also write down all the questions you can think of and sit with the builder and talk to them. Given a choice, I would have gone for a completed project instead of planned project. because there are some many unknowns.
My comments to replies
If you calculate taking into account that the complete loan amount will not be disbursed at the time of booking and is disbursed equally in the next 2 Yrs than you will not save any thing.
But I Went with this scheme with assumption that he is going to pay the EMI till possesion and I need not want to bother about the project delay.
But now when it comes to Tri-Party Aggrement the builder is asking me to sign on the Tri-Party Aggrement which mentions that the builder is going to pay the Pre-Emi till 31-March-2015.
If some one already went with this pre-emi scheme with ozone please let me know how what you did with the tri-party aggrement.
anymore update on this topics - Will they pay emi till possession or only till 2015 (not sure if they will complete before 2015 with a slow pace of construction activities
Q:
Since the Tri-Party Aggrement mentions that Ozone Is going to pay the Pre-Emi till 31-March-2015 and not till possession. Pre-Emi in Ozone Urbana Aqua
you pay about 20% of the purchase price upfront the balance amount will be funded through HDFC LTD until 31-Mar-2015. Waiting to sign the tri-party agreement to see the condition of the loan from HDFC.you pay about 20% of the purchase price upfront the balance amount will be funded through HDFC LTD until 31-Mar-2015. Waiting to sign the tri-party agreement to see the condition of the loan from HDFC.
My comments to replies
Me too. Booked a Flat in Ozone Urbana Aqua
Ramakrishna, have you signed the triparty agreement? I have some questions if you can answer. chris.s.raj@gmail.com
Urbana, is on a 187-acre site on Devanahalli Road. The mixed-use project will house residential, retail, hospitality, education, IT and R&D segments, with a total built up area of 20-30 million sq ft, which is likely to be completed by 2016.
Hello James, Have they confirmed the completion date in writing. It looks like the date has been slipping since 2009 based on my research.
6th September 2013
I have booked a 2BHK Flat in Aqua and hopefully this is going to be the largest mixed township with Apartments, Villas, Plots, School, Hospital, Hotel, Old Age Homes, Mall and an IT Park. This is a 150 Acre land perhaps the property to the BIAL and bang on NH-7, the Bangalore-Hyderabad Highway
have the confirmed the completed date and if they don't complete then you will have to pay the EMI to the bank until they complete. correct?
6th September 2013
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