AverageJoe

Hi

Finally i got possession of my apartment in Greater Noida after 5 months of roller coaster journey. It was frustrating to deal with banks, dealers & actual house owners.

I started looking for ready to move apartment in August 2011, visited Greater Noida 7-8 times with friends and families.

Part 1 - How I finalized the apartment

-- As usual, I was confused after seeing 7-8 apartments from different builders.
-- First I was interested in Amrapali Grand, Purvanchal Heights in Zeta Sector both were within my budget.
--Then I checked Unitech horiozn in PI sector, and Plumeria Garden just opposite to Unitech Horizon

All these projects are surrounded by villages.

-- Then some one told me to check CHI-PHI/Omega sector near Pari-Chowk.
-- I checked 3 apartments there Black & Gold Society, ATS Paradasio and Unitech Heights
-- I really liked the Black and Gold but apartment was smaller (1500+ sq.ft) and 6 lakh above my budget.
-- ATS Paradasio (1700 sq.ft) was also good but 10 lakh above my budget
-- Unitech Heights was 2-3 lakh above my budget but Apartment size was 1950 Sq, Ft.

There are no villages around these projects.

So finally decision was taken in favour of Unitech Heights.

Next task was to find apartment of my choice without paying premium but unfortunately only 3-4 options was there.

Part -2 - Meeting with Owner
-- Final prices were negotiated but there was some roadblocks like 19 lakhs loan was pending with bank.
-- And they wanted me to pay 10 ~ 12 lakhs in starting to settle loans with bank
-- So I paid 7 lakhs by cheque with agreement on Rs. 100 stamp paper.

Part-3- Home loan headache
-- I am self-employed so it is not easy to get loans these days.
-- But my credit rating is excellent 814 out of 900 (CIBIL.COM)
-- I tried only 2 banks ICICI & HDFC.
-- With ICICI, I was sure my loan will be approved easily but i was wrong they wasted my 1month.
-- Another negative was they told me, it is mandatory to have a co-applicant.
-- Just because of previous year ITR they put my application on hold meanwhile they completed legal, technical verification. I had ITR-V receipt but they were asking for ITR acknowledgement.
-- Then I tried HDFC, they were more professional in every steps from begining.
-- HDFC took 15 days in credit and technical verification + 7 days in legal verification + 5 days in disbursal
-- And they didn't even asked for ITR acknowledgement when I showed them ITR-V, challans and account statement.

I am really very happy with HDFC detailed documentation process.

Part - 4 - Registry Process
-- After HC verdict and Noida extension mess registry is currently on hold in some sectors of Greater Noida. They are waiting for NCR planning board approval.
-- So I was very worried.
-- and then suddenly they increased the transfer charges from 20,000 to 50,000
-- But luckily CHI-PHI sector was not affected. I dont know which other sectors are affected.
-- So date was fixed and finally process completed.
-- And it took another one week to get registry photocopy.

Dealer and Lawyer Charges:
1 % of property value = Rs. 53,000
Lawyer and other fees: Rs. 25,000
Other expanses: Rs.10,000

Now I hired carpenter for kitchen and wood work. will update soon about them.

You can check my extensive research in this thread.50 Lac Budget, Ready to Move Apartment in Noida/Greater Noida/Indirapuram

Where I posted positives, Negatives and some pictures of various projects like (Purvanchal, ATS, Amrapali, Unitech and others).

Cheers
Joe

Jai_Singh

Congrats for your new home. Very nice location.

humble_guy

nice to read about research, actual search and eventual purchase of your dream home. Congratulations! :-)

novice3675

Dear joe

Congrats on the completion of the task of purchase of your home. I wish to express my gratitude also that because of your post on Greater Noida, my own search for a home got impetous in true sense. I started following IREF because of your posts. I started of with search of Dwarka, then gave up. Then, I explored Greater Noida, which though I liked very much, but couldnot decide on buying a flat, because of sparse popoulation at this juncture, though I must admit, I shall definitely buy one there after say about seven years, god willing. Then, I stumbled upon Purvanchal Royal Park, sector 137 Noida. I liked many things including transparency of the builder and its representatives. However, I could not finalise it because the tower and the flat I was interested in, they said would be sold when the BSP would be around 5000. So, had to drop it as It would be out of my budget then. Then, I visited Indirapuarm area where I found lot of CHAHAL PAHAL compared to GN and Expressway, and though I have not seen much of the area, I went there because the ATS Advantage Phase II has been launched. I am somehow nearing finalsiation of 1685 sq. ft. flat between 5 th and 9th floor at 4300 BSP. As you had mentioned in your GN thread that you also had seen Indirapuram, I request your brutally honest advice regarding Indirapuram, ATS advantage Phase II, and any other advice you might feel to offer. I shall remain indebted forever. Thanx for bearing with my trivia.
Regards
Novice

agniabhi

Congratulations and full of awareness..

ThePunjabi

Congratulations AverageJoe,

Is there any market or store inside your society for things of daily needs like milk, groceries, stationary etc?

How many flats in the society and how many are occupied as of now?

gharondabhai

Great and congratulation .. finally the headaches are over and time for Holi Diwali ..)

suraj0206

Dear Noice, I am wondering why you think you must buy after seven years and not now?

I am also planning of buying 2BHK and have budget of 25-35 Lacs. Your reply might help in deciding the area. Though with the limited budget options may not be many for me.

saurabh2011

Congratulations

victors

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