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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Noida > Review Flexi/CLP plan of different builders
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Old October 15 2010, 09:47 PM   #1
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Default Review Flexi/CLP plan of different builders

People should write about Gray shade of builder and intention also :

Here is the Flexi Price schedule of Gulshan Sec 137 :

PLAN-C: FLEXI PLAN
STAGES
PERCENTAGE OF PAYMENT
At the time of Booking
10%
Within 45 days of Booking
40%
On Commencement of Construction
9% + 50% of Car Parking + Lease Rent
On Casting of Basement Slab
9% + PLC’s
On Casting of 2nd Floor Slab
9% + 50% of Car Parking + Club Membership
On Casting of 5th Floor Slab
9%
On Casting of 8th Floor Slab
9%
At the time of offer of Possession
(One Month before possession)

5% + I.F.M.S. + Other Charges
Total
100%

Before starting construction Builder will pocket 50% of BSP. When construction will start (not sure tower wise or not) He will have 60%. By the time second floor will complete he will pocket 78% of BSP and almost 75% of other charges.

Now compare it will PAN Oasis retail Flexi Plan :
Booking 10% of (BSP + PLC)
On 60 days or bank approve project : 30% of (BSP + PLC)
On Ground floor complete 10% of (BSP + PLC)
On 5th Floor complete 10% of (BSP + PLC)

(In case of corporate booking no ground floor installment means by time 5th floor will complete you will pay only 50% of (BSP +PLC).
All other charges like lease rent, car parking, club, EFC/FFC etc at time of possession in case of PAN Oasis. (Menaing 5.25 lakh minimum of other charges not at risk)

So I feel their Flexi is almost equal to other's builder's DP.

Why I am wrting here : People should ask builder why there is so much difference in Flexi price plan of different builders ?

While calculating cost consider all these points:
Example :if one builder take all extra charges in first year of booking and delivering after 3 years.
Suppose extra charges are 5 lakh then
1. Your 5 more lakhs at risk
2. You are loosing 1.5 lakh interest in 3 years

Let's discuss here which builder is giving best Flexi/CLP plan with respect to construction.

As for as I have screened I found PAN Oasis Flexi plan for corporate is best with respect to construction. ( 5th Floor complete and only 50% of BSP+PLC nothing else).

Can some one take pain and prepare excel sheet of top 15 projects of NOIDA with respect to construction stage. That kind of analysis really will add vlaue to forum.

 
Old October 16 2010, 12:05 AM   #2
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3c doesn't give any flexi option only CLP and DP.As per their CLP 47.5% payment is due on 6 th floor slab, considering this your plan looks better
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Old October 16 2010, 01:22 AM   #3
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Prateek Wisteria Flexi Plan

Plan B : Flexi CLP Payment Plan ( With 6% Rebate)
At the time of booking 10% of Basic Cost At the time of excavation 30% of basic cost +50% of Lease Rent At the time of basement casting 10% of basic cost +50% of Lease Rent At the time of 3rd Floor casting 10% of basic cost +50% of Car Parking+30% of PLC At the time of 6th Floor casting 10% of basic cost + 50% of Car Parking+50% of PLC At the time of 10th Floor casting 10% of basic cost + Power Backup+20% of PLC At the time of 14th Floor casting 10% of basic cost At the time of External Plaster 5% of basic cost At the time of offer of Possession 5% of basic cost + IFMS +F.F. Charges & E.E. Charges + Club Charges


I would say much better because 90% of payment is construction related. I hope excavation is related to respective tower.
Is construction started for this project and buyers have paid 30% installment ?
 
Old October 16 2010, 08:28 AM   #4
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Once again Chandra comes up with a bouncer....gr8 thoughts....really excellent.

It is intresting to know how much a builder pockets at various stages of construction;

1. Before starting construction
2. Completion of structure

It is seen that even under CLP plan, most builders take almost 80% of cost during completion of structure whereas structure cost barely 50% of construction cost. It is worse in flexi.

Be it flexi or CLP, the contruction risks are with the buyer.
 
Old October 16 2010, 10:11 AM   #5
 
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here is payment plans for towers i have booked in, lotus panache (tower 25). it is similar to one posted above(only floor numbers are changed as towers is 28 floors).

around 80% is gone by the time structure is complete.I don't know about other builders, but in lotus boulevard they are doing brick work parallel to structure work. so my guess is that will be completed close to point when structure work is over.


paymentplan3
 
Old October 16 2010, 01:45 PM   #6
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is this in line with guidelines of noida authority (if there are any guidelines on this).if somebody can please clarify this.
 
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