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Old June 16 2011, 04:50 PM   #1
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Icon25 Help senior members - Advise required about BBA.

Hi – need an advice from all senior folks on the below mentioned points...

· I have already paid the booking amount i.e. 10% of the total cost. However, the builder is asking me to pay the second instalment before time to sign a BBA. Is there a mandate that the buyer needs to pay x% amount before signing a BBA?
· Builder hasn’t even released the flat layout. Is it ok to Sign a BBA without looking at the layout.
· What are the key things I should keep in mind before signing a BBA?

Your comments on the above mentioned points would be much appreciated.

Regards,
Varun

 
Old June 16 2011, 07:28 PM   #2
 
 
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The BBA is suppose to have the final layouts . I am yet to see a BBA, without the layouts ( maybe, i did not face such a situation ) . Paying 20 % of the cost & then signing the BBA is not much of an issue . Worrisome is BBA without layouts .

If u can name the Builder & the project, things should be much clearer for everybody to comment .
 
Old June 16 2011, 07:48 PM   #3
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Hi Manoj – Thanks for the reply.

The builder is earth Infra. (Copia).
Their layout are not yet out and they want me to pay the 2nd instalment before time; Though they are not pushing me for it but they say that I can get a BBA only after I pay the 2nd instalment, Due date for which is 35 days away.

· In first place; I thought it was mandatory to have a layout plan in BBA. Though i am not sure; so thought about checking.
· Would it be ok to wait for 35 days and get the BBA later?

Pardon my ignorance if some questions sound very basic. I am a new investor; i have invested in this property so that i can live here myself or if it throws quick gains then i can move to pick another one.

Regards,
Varun
 
Old June 16 2011, 08:31 PM   #4
 
 
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No harm in paying 20 %, before BBA, most Builders ask for it . But BBA without layouts is something new for me .

Since, the Builder is Earth Infrastructure, just be careful . Take a look here ( & also at Earth's various threads in Noida/G. Noida part of the forum . Specifically, look at the complaints of many forum members, who r invested there ) , if u haven't already -


http://www.indianrealestateforum.com...nts-15749.html
 
Old June 16 2011, 10:55 PM   #5
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Thanks Manoj… I went through these URLs after I had paid the initial amount. L
Looks like you are pretty hands on…J

I don’t think I’d sign anything without looking at the layout and a committed completion date (I am sure they all defer from it; but at least I need a tentative date in writing.) If this doesn’t happen, I’ll explore the option about withdrawing my initial payments.

Ø Any idea if there are any deductions on withdrawing the initial amount? My cheques have been cleared but I haven’t signed a form yet.
Ø Is there anything else, I should keep in mind before signing the BBA?

Regards,
Varun
 
Old June 16 2011, 10:58 PM   #6
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Quote:
Originally Posted by MANOJa View Post
No harm in paying 20 %, before BBA, most Builders ask for it . But BBA without layouts is something new for me .

Since, the Builder is Earth Infrastructure, just be careful . Take a look here ( & also at Earth's various threads in Noida/G. Noida part of the forum . Specifically, look at the complaints of many forum members, who r invested there ) , if u haven't already -


http://www.indianrealestateforum.com...nts-15749.html
ab to aap dara doge agar kisi ne wo pad liya to , who has already invested here................lol

Raaton ke neend chali jaayegi , hence I suggest not to read it who have invested in this project.....

NOTE: A person always does the things for which he is told not to.......
 
Old June 16 2011, 11:06 PM   #7
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I somewhat agree but i guess Manoj is being nice by sharing facts that he found on the internet...

ab to paise lag gaye bro... jo hoga dekha jayega... one thing is for sure ki property kabhi loss main nahi jati...

but some info on the above mentioned points would really help.

-Varun
 
Old June 16 2011, 11:36 PM   #8
 
 
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Aap agar nahi dartey facts se, good for u .

Aisey Builders mein invest karo ge to subah ki bhi need chali jayegi .

NOTE : If a person wants to commit suicide & is hell bent on it, no body can stop him .


Quote:
Originally Posted by amit.bhalla View Post
ab to aap dara doge agar kisi ne wo pad liya to , who has already invested here................lol

Raaton ke neend chali jaayegi , hence I suggest not to read it who have invested in this project.....

NOTE: A person always does the things for which he is told not to.......
 
Old June 16 2011, 11:53 PM   #9
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Quote:
Originally Posted by VarunSachdev View Post
Thanks Manoj… I went through these URLs after I had paid the initial amount. L
Looks like you are pretty hands on…J

I don’t think I’d sign anything without looking at the layout and a committed completion date (I am sure they all defer from it; but at least I need a tentative date in writing.) If this doesn’t happen, I’ll explore the option about withdrawing my initial payments.

Ø Any idea if there are any deductions on withdrawing the initial amount? My cheques have been cleared but I haven’t signed a form yet.
Ø Is there anything else, I should keep in mind before signing the BBA?

Regards,
Varun

Thanks bro… I am sure you both are trying to help.
But the fact is that I have already paid the booking amt.
Can any of you help me with the other two points mentioned in my post… That would really be helpful.

"Any idea if there are any deductions on withdrawing the initial amount? My cheques have been cleared but I haven’t signed a form yet.

Is there anything else, I should keep in mind before signing the BBA?"

Thanks!
 
Old June 17 2011, 12:00 AM   #10
 
 
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Deduction on canceling the booking would depend on what u have signed ( initial agreement & maybe, anything more u have signed ). Expect something close to 10 % of what u have paid ( but deduction, rather non deduction could depend on yr. persuasion power & yr. contacts/influence ).

Search the forum . Some guys have posted the BBA's . Study them . If u find something abnormal in yr. BBA, that can be specifically discussed .
 
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