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The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

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The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

Last updated: 13 hours ago
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  • The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    Hello,

    Has anyone booked / pre-booked an apartment in the pre-launch of the T Bhimjyani Builder's The Verraton at Manpada, Thane West? Their existing project (Olivia) is now almost delayed by 2+ years. Does anyone know about their construction quality?

    Regards,
    Abhishek.
    Last edited July 29 2019, 10:22 AM.
  • #2

    #2

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    Hi, have booked 3 BHK lux. Have you booked?
    Last edited September 6 2019, 07:31 AM.

    Comment


    • Batman
      Batman commented
      Editing a comment
      Has any one booked in this pre launch or anyone who has experience with this builder guide me so that I can take decisions ahead.. thanks
  • #3

    #3

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    We have booked a 3 bed lux during pre-launch. No direct experience with the developer, but read some reviews on the link below on their ongoing project (Pase 1) at same site. I. All and all seems to have positive reviews, however last update on this discussion thread has been almost a year ago. I suggest we keep this thread going to have updates and hopefully others should join as well if updates are posted here.

    Phase 1 seems to have delayed though from the discusison thread below looks like the posesssion was planned in 2017 and still work is going and seems to be in final stages.

    https://www.indianrealestateforum.co...manpada-mumbai

    Comment


    • Batman
      Batman commented
      Editing a comment
      Thank you, went through the discussion, like they have done we too should get in touch with all those who have booked.
      Yes and review seems good. Have you done with agreement n SDR ?

    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      @Batman. Yes, I agree with you, SDR is planned for in 1st week of November. are you done with your SDR?

    • abhishekramakantsalvi
      Editing a comment
      I asked the sales guy about the delayed possession of Phase-1 and he said it was due to RERA.
      Initially they applied for 26 floors and then they applied fresh for more floors. This happened when RERA was just introduced and hence it took them quite some time to get the necessary aprovals for the additional floors. This stalled the project by almost 2 years!
      Last edited September 16 2019, 12:15 PM.
  • #4

    #4

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    @njalgaonkar SDR was due on 2 nd Sept n 25% amt due by 16 Sept ... But mine delayed as challan of SDR payment not generated so registration pending .. booking date was 28july

    I hve booked in tower C 22nd floor. How about you is it same tower ? Y different dates ?

    Comment


    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      Mine too tower C on 20th floor. I booked in last week of Aug and had asked for 1 mnth extension to do SDR.
      Last edited September 15 2019, 10:04 PM.

    • Batman
      Batman commented
      Editing a comment
      What price have they offer to u ? I got it initially for 2.5, bargained a lot but they didn't budge at all. Then after a week they called n said parking charges discounted n made it 2.42,with agreement value 2.04.

    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      Mine too All in 2.42
  • #5

    #5

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    We booked a 2 Bed Luxe in Tower B 21st Floor. I seen the Neelkanth Greens project and Neelkanth Palms (Kapurbawdi) and I was impressed with their layout and construction quality (much better than Kalpataru).

    I hope that construction quality of T Bhimjyani is the same as that of Neelkanth Greens.

    Do you know when they will start the actual construction at site (say excavation, etc.)?

    Last edited September 16 2019, 12:42 PM.

    Comment


    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      Not too sure of when the construction work will start, but the excavation work seems to be done already.
  • #6

    #6

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    Have net of u applied for loan from L&T finance or other tie ups? As afar as I know subvention schemes have officially been called off ..so any idea how will it work in this project as they have offered it.

    L&T official say it will be three way agreement btwn us, builder n them.
    Last edited September 17 2019, 08:08 PM.

    Comment


    • abhishekramakantsalvi
      Editing a comment
      I have done the pre-sanction part with L&T Finance. Even I read in the news about the Pre-EMI schemes being banned by RBI. However, both the builder (sale team) and L&T team say we (buyer) do not have to pay pre-EMI till Sep-2021.

    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      I too have got pre-sanction from L&T finance. I did not hear about the Pre-EMI scheme being called off.
  • #7

    #7

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    Has anyone done with the sale agreement with the builder? What clauses are mentioned in it concerning the payment of Pre-EMIs by the builder?

    If the builder anyhow defaults even on one payment then that will affect the CIBIL of the buyer without any problem to the builder.

    Also is there any kind of lock-in period mentioned which says you cannot change the loan provider (say from L&T to some PSB) or that you cannot sell the flat for X years?

    Any inputs from those who have done with the SDR will be helpful.

    Thanks,
    Abhishek.

    Last edited September 25 2019, 03:38 PM.

    Comment


    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      Thanks Abhishek. What ROI is SBI offering?

    • abhishekramakantsalvi
      Editing a comment
      Till 75L it is 8.50% (with good CIBIL and a woman co-applicant). I think HDFC would also be somewhere nearby this.
      In any case they are "Banks" unlike NBFCs

    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      Thanks. It may further go down with RBI’s monetary policy coming out on oct 4th hinting at rate cut. Hopefully banks should also follow.
  • #8

    #8

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    my agreement n SDR due this week ... Will check out Wth Ln T person, last time wen I asked they said it's there way aggrement btwn us builder n lender...as L n T is funding project n subvention schemes given away.
    Any queries u want me to ask them ?




    Comment


    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      @Batman, you may want to check on what Abhishek pointed out earlier about the CIBIL score of buyer impacted if builder defaults on payments. Also, the sales person had said that 2 years no EMI is applicable for structural work until 40th floor, which is what LnT will raise demand for based on the slab work completed. In this case do you know is it which ever is earlier whether completion of structural work / Sep 2021?

    • abhishekramakantsalvi
      Editing a comment
      There is another option which my colleague got:
      When the bank releases the payment to the builder they deduct the interest beforehand and make the payment. So if there is a demand for 10L from the builder then (assuming 8% ROI) the bank will deduct 80K and give the rest 9.2L to the builder...so that the buyer's interest are still safe-guarded.
  • #9

    #9

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    Done with registration.. vry chaotic process .. went at reg office at 4 pm .. got out at 6.30 ... All agents pushing nos in between ... Suggest wen u go keep tracking ur aggrement copy WTH cleks ....

    Also checked with L n T ... They said the whole process where builder may default n costumer CIBIL may get affected is probably the reason y govt has called these schemes off
    So the can't tk money from builder .. they have to recover form costumer ... Dats y they have scheme called flexy pay wherein whatever interest accumulated till Sept 2021 will b reimbursed by builder to d costumer.. they have a letter from builder for same on which we have to sign n flexipay aggrement from L nT

    Also the insurance is mandatory ... They have tie up WTH Kotak .. they r offering 4.5 ..7 lac permimum for a loan of 1.5 to 1.7 cr .. which will be paid by lnT to Kotak n will b recovered from is in installments ( have to confirm interest rate for same ) which starts right away from next month of loan disbursement... Which is approx 4 to 7 k per month for above said amt

    There have been some changes in plans of tower A ( bedroom area increased is wat was told ) n they r taking sign for same from all costumers ...
    Last edited October 7 2019, 07:34 AM. Reason: Merged Posts

    Comment


    • abhishekramakantsalvi
      Editing a comment
      Congratulations on completing the SDR formalities :-)
      As long as buyer's interest is safeguarded it is fine.
      The premium looks quite expensive (I am not aware of your loan amount and age). Is it a term insurance or home loan insurance?
  • #10

    #10

    Re : The Verraton Codename Hallmark - T Bhimjyani Builders Manpada Thane, Mumbai

    My friend suggested can also reduce tenure of insurance n push l n t for lower premium insurance ...
    They had calculated 7 lakhs for me ... I hve reduced it to 4.5 ( should have done further ) ..
    For the advantage of 2 yrs no payment till 201 ... one can avail loan from L n t n keep floating rate of interest as foreclosure has nil charges ... N shift loan to other Banks ...

    If one is comfortable with starting emi right away can opt for other Banks .. like hdfc who don't have compulsory insurance n start paying early ...

    Comment


    • Batman
      Batman commented
      Editing a comment
      @njalgoankar yes once u initaitr SDR transfer u get a call from site office to sign aggrement ( some sign at reg office ) at site office u can sit n read those 60..70 pages peacefully.
      Yes carpet area we checked it was same as told to us but there is clause RERA accepts 5% difference.
      Possession date mentioned is august 2024.. builder says their target is Dec 2023.
      Once u transfer registration money cif u don't get call u can insits on signing aggrement at site office before registration.. coz dats the place where u can read it completely.

    • njalgaonkar
      njalgaonkar commented
      Editing a comment
      Thank you @Batman. Appreciate it.

    • Consumer890
      Consumer890 commented
      Editing a comment
      Home loan insurance is never mandatory and it reduces with home loan payment as well...so useless product...U can easily have term insurance of 2cr for 15k which should be sufficient to cover loan amount...this is just mis-selling and don't accept...try IMGC
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