kk83710

Hello There,

As far as flats available on CLP plans are concerned there is a certain amount known as Possession Charges/Amount. Which is generally 5-8% of the property price. Suppose the property price is 40 lakhs and possession charge is 3 lakhs. If the buyers pays 10 lakhs in advance and want to take loan for 27 lakhs(40-10-3). Will the bank allow to do so.

My concern here is that in CLPs once all the slabs are completed still there is a 6-10 months delays before possession can be given. In those 6-10 months 3 lakhs can be saved/arranged by many of us. So we might save certain interest amount on the whole price.

Please advise. TIA.

P.S. The story may not be true for all CLP plans. I just seek advice on that. As every penny is worth saving.

kk83710

guys jump in and suggest!!!

gharondabhai

There is no fixed rule for home loan. Everything is at the discretion of the loan approving officer, including processing fees, interest rate and all terms and condition. Negotiate hard depending on your bargaining power and settle for the one that suits you.

Key point is, everything is negotiable, depends, who is more desperate, you or the bank.

Swaran

After paying 95% in CLP , the general wait for possession is 2 years and not 6-10 months. Gone are those days. If you have any doubt ask anyone who paid 95% in the last two years and have got possession. ALL THE PROJECTS ARE RUNNING AT LEAST 1-1.5 YEARS BEHIND SCHEDULE TODAY

kk83710

Exactly, That's what my concern is that buyers have enough time, after paying 95% of the price, to pay remaining 5% by themselves. Doing so they will save some interest on 5% of price. And bank should be approving such demands from buyer.