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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: 22 hours ago
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  • #11

    #11

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

    @abhishek.. it's home loan insurance .. they calculate higher end .. one can easily push them to reduce term .. n get premium down ...
    At moment those who want emi free period till 2021n r able to negotiate on loan insurance to minimum should go ahead .. n opt for floating rate ... As forclosure on floating rate is nil... Later if there is rate difference can transfer d loan to Banks ... In dat case insurance WTH lnt ceases n hence premium stops..


    L n t is paying premium to Kotak lumsum n recovering from us * 8.8 % interesed in emi ....
    So long term it's not gonna b cost-effective ...

    As per my knowledge those who want to buy some time go with l n t for now then repay ( if u gonna frm other property sale) or transfer to cost-effective alternative...


    N if no problem WTH emi repayment right away I think should go for other than l n t options ..

    Comment


    • abhishekramakantsalvi
      Editing a comment
      @Rajkul
      Even I am not so much inclined now to go for L&T as they just fail to respond. Asked them simple queries in Sep-2019 and still waiting to get an answer.
      Their strategy seems simple, make the customer wait till the last moment(of payment date) and once the payment date is approaching where is the buyer going to go at the last moment.
      HDFC, SBI seems much more interested in giving loans and also responding to your queries (I have no personal / hidden benefits with these two banks and my statement should not be taken as a promotion of them).

    • abhishekramakantsalvi
      Editing a comment
      @Batman
      Did you have to pay any additional charges towards preparation of agreement and other documents?

    • Rajkul
      Rajkul commented
      Editing a comment
      @abhishek ... you would need 5500 for registration (cash only / no receipt - guess you get the drift for the registrar)
  • #12

    #12

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

    i recently registered for 2.5 BHK (3bhk premium) infinity C 26th Floor

    Comment

    • #13

      #13

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

      * Abhishek .. no charges formally asked for during agreement... But d agents at registration office took 5.5 k for scanning n service charges
      @rajkul how much did they charge u at reg office ?

      Comment


      • Rajkul
        Rajkul commented
        Editing a comment
        same 5.5k ... its agent plus registrar's undocumented fees

      • abhishekramakantsalvi
        Editing a comment
        @Batman @Rajkul
        I got a draft version of the sale agreement from the builder's office and there is a mention of payment of 25K to some agency for preparing the agreement and other documentations.
        I will ask about this to the CSR.

      • Rajkul
        Rajkul commented
        Editing a comment
        @abhishek i was told it is part of the total cost, not to be paid seperately.. part of other developmental charges... so wasnt asked to pay it..

        however do ask and confirm..
    • #14

      #14

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

      Dear,

      Has anyone approached any bank/ NBFC other than LnT Finance and got home loan approved for this project?

      I approached HDFC (which the builder claims to have tie-up with) and they rejected saying we will not provide home loan considering the stage of construction and possession date.
      Also the HDFC guy said the project is marked (within their system) with pending legal documents.

      Wondering how come LnT is comfortable in paying 25% (post registration) to this project.

      Any inputs will be helpful.

      Thanks, Abhishek.

      Comment


      • njalgaonkar
        njalgaonkar commented
        Editing a comment
        Abhishek, how about SBI I guess you had approached them as well. I shall try to find this out from my contact at HDFC.

      • abhishekramakantsalvi
        Editing a comment
        Yes, I did approach SBI. However, they mentioned that they need a copy of registration to start the home loan process from their side. They also mentioned that the process will take around a month.
        Ok. So you are the on who got loan from HDFC :-). Is disbursal done for you?
        Just for the sake of verifying contact HDFC separately as a dummy client and ask them if they fund a project where still no construction is done. Regional sales manager said they fund projects which are at least 20% completed (which I find bit weird).
        I am in contact with a sales person from HDFC (which the builder team referred to).

      • njalgaonkar
        njalgaonkar commented
        Editing a comment
        Abhishek, I have not approached HDFC for this loan, I want to go for no Pre- EMI offer and hence may have to stick with LnT for now. I did check with my HDFC contact and he did mention that they do fund projects that are in pre-launch stage. He will get me info on status of this project in a day or two if it is approved with HDFC or not.
    • #15

      #15

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

      Hi anyone has idea about NOI( notice of intimation). To be done at registration office .. Got a call from Ln T to get it done.
      L n T agent does in 3.5 k
      I enquired at reg office .. they said 1100 challan n 400 handling charges but they said to get MOD ( memorandum of deposits ) ...asked LnT they say we haven't given mod for ney costumer n registrar office says... Lending bank gives MOD ..ney one has idea how to tackle this?

      Comment


      • njalgaonkar
        njalgaonkar commented
        Editing a comment
        This is something new and unheard of.

      • abhishekramakantsalvi
        Editing a comment
        yes, it a requirement from government and needs to be done within stipulated time from taking the loan else penalty or cancellation of loan :-(
        If you want to do it on your own then please be assured that the department will play a ping-pong asking you to get documents / come tomorrow / this is missing, etc.
        Time saving is to get it done via an agent (with *premium charges*)
    • #16

      #16

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

      * Abhishek it's easy process .. I went to registration office ... U just need copy of aadhar card , pan card, loan sanction letter , MOD , challan ( which u can pay online n agent just next to office outside does it for 200 RS. ) And 0.2 % challan receipt u paid during loan processing . .. just give them stapled bundle of these papers n wait there for 15..20 min ur wrk is done ... Mine is pending coz of MOD .. which l n T person says haven't heard of it!!
      MOD is memorandum of deposits which lender gives stating that certain valuation investment/ loan papers from borrower r Wth them n in case borrower defualts they will recover loan Mooney via those investment / insurance

      Comment

      • #17

        #17

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

        For l n t MOD is page no 48 to 50 of loan aggrement. The representative r unaware of it . Went to l n t office got copy of it stamped n challan n data entry too done frm a firm near registration office. All done in 1600/- . It's not big deal but l n t makes it big deal so dat we get it done from them 3.5 to 4.5 k.

        Comment

        • #18

          #18

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

          So finally after some strong emails and communications with L&T and the builder representative, I got the required answers to my queries and my sale agreement got registered.
          The registration process was quite quick (and I should thank the CSR and the agent) for the same. May be it being a Saturday also helped.

          About the policy which L&T says is mandatory - you can manupulate the premium based on the type of the plan which you select. 7 Lakhs is the premium type and covers everything that could happen to a borrower. Next is 3.8 Lakhs which covers death and accidental death. The next one (which I opted) is 1.9 Lakhs which covers death only.
          This policy is only applicable till the point your loan is with L&T.

          Disbursement is planned to happen in a day or two.

          Batman - so once the challan (0.2% of loan amount) is paid online, I have to approach the registration office with necessary documents and get the loan registered. Can you please let me know the name of the agent at the office and where can I find him? Also the fees of 1100 and 200 need to be paid separately at the resgitration office; am I correct?

          Thank you!

          Comment


          • Batman
            Batman commented
            Editing a comment
            * Abhishek .. u need to take MOD ( pg 48 to 50 of loan aggrement ) stamped frm them .. WTH these u can go to agent office just outside reg office ( opp Ganesh theater next to madhav bag shop ) WTH them u make challan of 1100 and make data entry which is form given on which u need to put photo n thumb imp n sign ( they charge 200 for same .. can b done by self also online ) once u get these need ln t stamp on them ( as I stay near reg office n I complained they had send a clerk WTH stamp at my home ) n u make bundle of these forms ... 1100 challan , 0.2 % challan , index 2 from aggrement , mod , pan card copy , aadhar card copy , n one more 300 challan which they generated . .. as builder bank address is Mumbai it goes to registration office section which is at talao Pali near gadkari 5 min from charai office ...

          • Batman
            Batman commented
            Editing a comment
            * Abhishek .. I asked d l n t representative she didn't give me these options of 3.8 n 1.9 she decreased the tenure to 25 yrs n made it 5 lakhs ...
            Can u tell me name of ur representative from L n t ..

          • abhishekramakantsalvi
            Editing a comment
            The name of my policy is "Life cover plus accelerated Critical Illness Benefit" (code is "KCCP"). Also what impacts the premium is the loan amount and age, as my loan amount is well below 1 cr I did not want to pay so much for a life insurance.
            Last edited October 26 2019, 04:40 PM.
        • #19

          #19

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

          Hello,

          I received a call from L&T Finance Customer Service saying my home loan EMI for the month of Dec-2019 is not paid. I was asked to ensure that the same is paid alongwith Jan-2019 EMI on or before 02-Jan-2019 else they will charge penalty.

          I would like to check with you if anyone has received any such call or to be on a safer side check with L&T if the builder has made necessary payment against your home loan account.

          When I checked with the L&T home loan representative, he said I do not have to pay anything for next 2 years but could not answer if the builder has made the necessary payment to L&T.

          Regards,

          Abhishek.

          Comment


          • njalgaonkar
            njalgaonkar commented
            Editing a comment
            Hi Abhishek, that’s worry some. My First Pre EMI is due next month.. so shall check with developer. Did you check with developer.
        • #20

          #20

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

          njalgaonkar
          I checked with the builder's representative and she mentioned that I do not have to pay anything till Sep-2021. She also mentioned that due to some technical issue at L&T it is showing that the customers (note that this is for all the buyers at Verraton who have loan from L&T) have not yet paid the EMI amount.

          L&T has not yet updated their systems to reflect the subvention scheme and hence it is shown as payment not done. If your first EMI is next month (and if L&T issue is not resolved) then sometime in Feb-2020 you may also receive a notification for payment.

          Lets hope no one is listed as a defaulter due to this technical issue.

          I still do not have the answer if builder has made the payment to L&T or how does that work.

          Comment


          • Batman
            Batman commented
            Editing a comment
            It's a flexi scheme not subvention no payments will b made by builder. As lnt has financed the project flexi scheme is 3 wat agreement btn lnt builder n buuyer, that till 2020 no emi. N whole subvention scheme is officially called off coz of this reason only .. if builder defaults cibil of costumer is affected .. so those wth lnt it's not subvention just just triparty agreement
            But I'm not sure in 2021 at end of this period if. Builder reduces the amt from agreement amt to pay n buyer directly pays to lnt or builder gives buyer lump sum to pay.. as officially no pre Emily should go from builder to lnt...
            Yes n it was system generated call as protocol .. not representative said they have intimated for all costumer under this flexible schedule ...

            I happen to see construction site last week as I went to see current marketed ready to move flats by verration in Olivia tower.. site is just getting cleared of debris. . digging work to start this week ..

          • njalgaonkar
            njalgaonkar commented
            Editing a comment
            @Batman. Thank you sharing and insights. No one either the builder rep or LnT clearly communicate how this flexi scheme is going to work. All they say is buyer is not required to pay any pre emi till 2021. If this is the case then not sure why LnT generated payment schedule which includes pre emi’s

          • abhishekramakantsalvi
            Editing a comment
            @Batman Thanks for the info!
            Also it is good to know that work will start for this project soon. Hopefully all goes well in future.
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