kaatesha

thanks a lot venky.

sidhjs

Thanks guys for your time in explaining it further- may be I am to new to know the in &out of loan. Thats why I couldn't understand when Venky said----""If you take CLP, you pay pre-emi to bank till full amount is disbursed""

I had a brief talk with the loan agent he said that suppose you take loan of 30lacs in CLS then for example if first installment (after inital 3) is of 6 lacs then Principal Amount of loan will be 6 lacs and ineterst will srat on it. As next installments of Builder comes up, bank keeps paying them and principal amount keeps increasing so the interest rate.

Now my confusion is ----when we start paying the EMIs then EMIs will also decrease the Principal Amount as well. The point which I would like to highlight is that in CLP the pre EMIs will comprise of interst (high in start) and also the Principal Amount so it can't be considered as we are paying more. I agree after complete project Principal Amount will be at it's peak and so the interest that might make our return more than what we can calculate in DP. But in CLP we might arrange money in 3 years so the loan amount can be less.

Attached is the loan calculater may be it's of any help to guide peoples like me

Attached Files

Amort_Schdle.zip (37.2 KB, 138 views)

hagarwal

Hi

Here is a document that could help you calculate if CLP would be better or DP would be better after 3 years.

Here you can set your initial capital, bank interest rate for loan and FD and various other project parameters of yours and calculate cost you need to pay in 3 years in all respects.

Tried my best to keep it accurate (and pls help me to improve it further).

I did tried to tweak different parameters and found definitely DP is cheaper then CLP, but you can say it is a price to cover the risk of total amount you are keeping in hand of a risky builder.

Try tweaking other parameters and see yourself different outcomes.

Regards

Himanshu

Attached Files

Libality Estimate .zip (23.6 KB, 175 views)

Venkytalks

Interesting.

I do not know how it calculates, but with 8% return on FD and 12% loan rates, price difference on 40,00,000 comes to just 70,000.

I think DP should be cheaper than what it is calculating - around 2-2.5 Lakhs at least for 40 L flat

Venkytalks

Easier to just bump up the thread than post a link

madgeek

very true.

aloky_y

to avoid pre emi u have an option of starting ur emi on part disbursed loan also under clp or flexi plaq. hdfc is dping that that way ur principle amt is alos reducing and security of defalt by builder is also there

Devdas

Awesome thread, lots of invaluable posts from informed members.

PS. This should be made a sticky thread!

pchandwani

Hi

Can anyone suggest which plan i should go for
As if now I have opted for Flexi 2755/sq feet
I was tempted for downpayment as I have no issues paying emi and I am unable to save anything so want to pay a higher emi from day one and have no money problems.

As shown in the image below if we see the bsp then diff in DPP and Flexi is around 2 lakhs ...

Pls suggest if DPP will be beneficial in this case ?
Also Ive paid 10% so 85% more need to be paid , this is of the BSP only right ? Other charges like PLC lease rent and all need to paid at possesion ?

Out of 35lakhs ive paid 4lkhs , 25 is my loan eligibily and rest 6 I can fund ?


Pls suggest , need to apply for loan now .

Attached Images

 

pchandwani

Pls suggest