I have booked a flat in this property.
Anybody who has taken a flat in the same project? Might be good to connect.
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  • hi, just wonderin are there any other forums where this thread has moved to, coz i dont seee people active any more over here
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  • Any updates ?

    Hi Guys - Any update on the new phase launch or agreement signing process ?
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  • new project launch on south. side

    A new housing project launched on south side (below India bulls plot) with 4 towers 28 storied by another builder. Booking price 3000 per sq ft.
    So the entire south side of India bulls greens project Will be blocked up to 28 storied height. Moreover they too will have a low income group rental housing scheme for mmrda behind their 4 towers.
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  • HI

    DO U HAVE THE DETAILS OF THAT PROJECT COZ RS-3000PSF IS NOT DEAL BUT STEAL..WOULD LIKE TO KNW..PLZ LET ME KNW IF U KNW ABT THE PROJECT..

    Originally Posted by ibrel_pan
    A new housing project launched on south side (below India bulls plot) with 4 towers 28 storied by another builder. Booking price 3000 per sq ft.
    So the entire south side of India bulls greens project Will be blocked up to 28 storied height. Moreover they too will have a low income group rental housing scheme for mmrda behind their 4 towers.
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  • Because IB is quoting 4000 you think 3000 is cheap.:D

    In the middle of nowhere some people will even argue that 2000 is too much.

    Dikhawe pe mat jao, apni akal lagao :) kyuki jass dista tass nasta, manun jagg fasta (All that glitters is not gold)

    if you still have the apetite, here are the details of the brokerr:
    http://navimumbai.quikr.com/UP-COMING-PROJECT-IN-NEW-PANVEL-W0QQAdIdZ71397917

    Originally Posted by peeya
    DO U HAVE THE DETAILS OF THAT PROJECT COZ RS-3000PSF IS NOT DEAL BUT STEAL..WOULD LIKE TO KNW..PLZ LET ME KNW IF U KNW ABT THE PROJECT..
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  • oh!!! ya u r rite...

    Originally Posted by wadia
    Because IB is quoting 4000 you think 3000 is cheap.:D

    In the middle of nowhere some people will even argue that 2000 is too much.

    Dikhawe pe mat jao, apni akal lagao :) kyuki jass dista tass nasta, manun jagg fasta (All that glitters is not gold)

    if you still have the apetite, here are the details of the brokerr:
    UP COMING PROJECT IN NEW PANVEL - NaviMumbai: Apartments - For Sale in NaviMumbai at Quikr NaviMumbai

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  • Agreement and Advance Disbursement Facility

    Hi Everyone,

    I had signed the agreement a week back. I was just recently contacted by IB Home Loans who have offered to give 11% discount on the remaining installments if we go for a loan with this. They are calling this the ADF (Advance Disbursement Facility). I have given this some thought and will go ahead with this. Will save around 3.1 lacs outright. Has anyone else signed the agreement or availed the ADF??
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  • Advanced Disbursement Facility

    Hi Capt,

    It 'only' sounds good as entire amount is disbursed and given to the builder upfront who receives it without any interest obligation. A part of this benefit is passed on to the buyer by means of a discount by the builder. As disburement is upfront in the case of an ADF, the interest application on the entire loan amount starts immediately. If you calculate the interest applied on the gradual disbursement done on the basis of the construction phases, you will conclude that gradual disbursement of the loan without any discount (in sale price) would be more beneficial where interest is applied only on the disbursed amount and not on the entire loan amount. In the case of current project where 'the completion' is not envisaged in a very near future, the ADF route would turn out to be even more costly.

    This only has made the ADF route unpopular.
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  • Cust ID

    IB is providing Cust id project wise and havent done panvel yet thats what was told to me.
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  • I had booked myself a flat in tower Y. (Once upon a time layout)
    With the new layout, I have no idea whatsoever, where is tower Y.

    And with our excellent IB Customer Service, I ask them some question "A" and get a reply back for something else, say "B".

    Anyone else, booked in tower Y and aware, which bldg number has this been transformed to?

    Thanks,
    Vishal
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  • hi capt,
    i agree with shukla's response. further, please read complaints against IB home loans on consumer complaints forum. There have been several instances where IB has increased the home loan rates at their whims and fancies. if this is the case, then all calculations will go futile. i suggest avoid IB home loans at all cost.
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  • Agreement Signing

    Originally Posted by capt.vishal
    Hi Everyone,

    I had signed the agreement a week back. I was just recently contacted by IB Home Loans who have offered to give 11% discount on the remaining installments if we go for a loan with this. They are calling this the ADF (Advance Disbursement Facility). I have given this some thought and will go ahead with this. Will save around 3.1 lacs outright. Has anyone else signed the agreement or availed the ADF??


    Hi Capt,
    Did you ask for any change in the clauses mentioned in the original agreement ? Did IB agree to any of the changes ?
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  • I agree with Shuklar that this IB home loan scheme of full disbursal is not beneficial in the long run.
    Also please read the agreement clauses of IB home loan as it might have dangerous clauses like our panvel agreement! !?!!!!!
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  • Originally Posted by ShuklaR
    Hi Capt,

    It 'only' sounds good as entire amount is disbursed and given to the builder upfront who receives it without any interest obligation. A part of this benefit is passed on to the buyer by means of a discount by the builder. As disburement is upfront in the case of an ADF, the interest application on the entire loan amount starts immediately. If you calculate the interest applied on the gradual disbursement done on the basis of the construction phases, you will conclude that gradual disbursement of the loan without any discount (in sale price) would be more beneficial where interest is applied only on the disbursed amount and not on the entire loan amount. In the case of current project where 'the completion' is not envisaged in a very near future, the ADF route would turn out to be even more costly.

    This only has made the ADF route unpopular.


    Hi Shukla,

    Thanks for your detailed explanation. I totally agree with you that it would be be cheaper if I take the usual loan. But in case of a usual loan I am not sure if I can get a tenure of 5 years starting from now. Since I am going for a total loan tenure of 5 years starting from time of disbursement my total interest amount over a period of 5 years (at 10% floating interest rate) is approximately 7.1 lacs for a loan of 26 lacs. By taking an ADF I am saving 3.1 lacs upfront. This means I am paying an excess of 4 lacs as interest over a period of 5 years. If I put the 3.1 lacs which I save upfront in a FD where the rate of returns post tax is 6 pct (say) I will still get around 1.2 lacs in 5 years as interest after tax deduction. Now remaining is 2.8 lacs which effectively means thats I am paying an average interest of Rs 4,667 / month for 5 years which is the worst case as other investment options will give higher yield. Also in case I make any pre payments (upto 25% of principal remaining )my interest amount will further reduce. I am really bad at calculations so some of the above may not make sense. Also if there is further delay in the project I guess in the normal loan you will be more at loss as you are now paying mainly interest more than principal. In case of ADF if you choose a lesser tenure you are starting to pay more of principal from the very beginning which makes more sense if you have taken the property purely for investment purposes.

    Your comments would be much appreciated.

    Cheers!!!
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  • Originally Posted by justtp
    Hi Capt,
    Did you ask for any change in the clauses mentioned in the original agreement ? Did IB agree to any of the changes ?


    Hii,

    I tried to get some changes done but no luck. Also it seems very unlikely that they will make any changes (I hope I am wrong). Frankly I did not have time to get into all the mess.The agreement is totally one sided but trust me if you go to any other builder the agreement will have similar terms. Do let me know if anyone has been able to get the agreement changed.

    Cheers
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