Hello All,

Just wanted to check which are the 20:80 schemes on offer in Mumbai currently (Reputed builders only) I know there are conflicting views on the scheme per se but I dont mind getting into one as long as the builder requires the payment of 80% to be made on/after possession.

Here are a few that are known to me. Grateful if you can add on to the list and also mention if the 80% payment needs to be made on/after possession or before (eg: after X years from the date of booking)

1.) Omkar Alta Monte, Malad (Only 3 BHKs and above. Not sure of 2 BHKs). 80% on possession
2.) Rustomjee Urbania, Thane. Have multiple schemes - 80% on possession, 80% after 2 years etc
3.) Veena Serenity, Chembur (10:80:10 scheme). Not sure when the 80% is due
4.) Omkar Meridia, Kurla West/BKC Crossing. 80% on posession
5.) Ruparel Orion, Chembur (again not sure of the 80%)
6.) Runwal Thane
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  • Originally Posted by MangoMan85
    Hello All,

    Just wanted to check which are the 20:80 schemes on offer in Mumbai currently (Reputed builders only) I know there are conflicting views on the scheme per se but I dont mind getting into one as long as the builder requires the payment of 80% to be made on/after possession.

    Here are a few that are known to me. Grateful if you can add on to the list and also mention if the 80% payment needs to be made on/after possession or before (eg: after X years from the date of booking)

    1.) Omkar Alta Monte, Malad (Only 3 BHKs and above. Not sure of 2 BHKs). 80% on possession
    2.) Rustomjee Urbania, Thane. Have multiple schemes - 80% on possession, 80% after 2 years etc
    3.) Veena Serenity, Chembur (10:80:10 scheme). Not sure when the 80% is due
    4.) Omkar Meridia, Kurla West/BKC Crossing. 80% on posession
    5.) Ruparel Orion, Chembur (again not sure of the 80%)
    6.) Runwal Thane

    Many many more.

    Thane itself have four
    Western Suburbs six
    WADALA three
    Many many.
    Just Google and you will get..
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  • All builders are offering this bcoz of the bad market, they have even started negotiating on the rates if u discuss in detail.and show seriousness....
    Market is in.bad shape, not only builders, investors are shaking too; too much inventory leftover...no government support or incentives... Lets hope good days are coming for end users thru atleast minor price correction if not major
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  • Originally Posted by MangoMan85
    Hello All,

    Just wanted to check which are the 20:80 schemes on offer in Mumbai currently (Reputed builders only) I know there are conflicting views on the scheme per se but I dont mind getting into one as long as the builder requires the payment of 80% to be made on/after possession.

    Here are a few that are known to me. Grateful if you can add on to the list and also mention if the 80% payment needs to be made on/after possession or before (eg: after X years from the date of booking)


    Correct me if i am wrong, you have to take a loan when booking the flat. And the builder gets the disbursement from the bank (slab wise). You have to pay Interest only after possession of flat. Thats how it works.

    Thanks
    PK
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  • Any 20:80 schemes in Borivali-Kandivali belt?
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  • Rustomjee has a project in Kandivili West with a 20:80 scheme if I am not mistaken
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  • Is this Rustomjee Meridian or some other project?
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  • I had booked shapoor ji pallor ji in k and wall East in 2013 In 20 . 80

    Originally Posted by MangoMan85
    Rustomjee has a project in Kandivili West with a 20:80 scheme if I am not mistaken
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  • Correct to some extent... You pay 20% and the bank gives 80% need not necessarily be slabwise... you pay interest only

    Basically the banks cannot fund the builder anymore as he is completely under debt and you are financing..

    You keep paying the interest even if the builder does not complete or delays...

    Essentially the bank has transferred the money to the builder and the risk to the purchaser..

    Originally Posted by NawtyBoy
    Correct me if i am wrong, you have to take a loan when booking the flat. And the builder gets the disbursement from the bank (slab wise). You have to pay Interest only after possession of flat. Thats how it works.

    Thanks
    PK
    CommentQuote
  • To put in short-this is a list of projects which need to be avoided.
    http://www.business-standard.com/article/pf/the-new-look-20-80-schemes-114110900835_1.html
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  • What Sharpj mentioned is correct. The builders are just looking at improving their cash flow and the buyer is enabling that through the bank though the interest will kick in after 2 years or after possession as the case may be. The fine print is that if the project is delayed beyond the specified date, then the buyer will ultimately pay as if the builder defaults then the bank will go after the buyer.

    In nutshell, the builders are just not reducing the prices as it all funded through investors who have nothing to lose except for holding on to the investments. In any case, most of the money coming from the investors are not white.
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  • what shd one do ? just sit and cry?
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  • What is there to cry.
    There are other avenues to invest.
    Always look for RTM or even a good resale flat.
    U/C is dangerous to your financial health in present circumstances whether being shown as 20:80 or 10-90 scheme.
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