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KM Residency - Raj Nagar Extension - Ghaziabad

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KM Residency - Raj Nagar Extension - Ghaziabad

Last updated: November 1 2020
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  • Re : KM Residency - Raj Nagar Extension - Ghaziabad

    HI Friends,

    I am new to this forum.
    Can any of you please tell me what is the current resale price for 1175 sqft flat in KM Residency?

    thanks,

    Comment


    • Re : KM Residency - Raj Nagar Extension - Ghaziabad

      Originally posted by abhishek.b View Post
      yeah Saxena jee. well, i would agree with u any day about the nationalised Bank but aab toh kat chuki hai. :| and i doubt if i'd be willing to buy another property at all
      and yes, i have insured the loan from HDFC guys only. some HDFC ERGO Home Suraksha Plus plan. same way they have adjusted the amount on my EMI.

      Although kut toh chuki hi hai but nevertheless, thanks for the kind words.
      Hello Abhishek ji,

      When i visited the branch for first disbursement they also offered me the same HDFC ERGO Home Suraksha Plus plan under which almost everything is covered for next five year for total premium of Rs.50000 around and the same will be added to monthly EMI of loan as per bank executive.

      Please advise that whether or not I go for the above plan or their is some better plan available.

      Comment


      • Re : KM Residency - Raj Nagar Extension - Ghaziabad

        Hello All,

        Finally papers for approval till 13th floor in tower c submitted to the bank and finally bank disbursing my installment.


        Now tower c is approved till 13th floor as per bank records and banks loans are available on the same units.

        Comment


        • Re : KM Residency - Raj Nagar Extension - Ghaziabad

          Originally posted by RAHUL C View Post
          Hello Abhishek ji,

          When i visited the branch for first disbursement they also offered me the same HDFC ERGO Home Suraksha Plus plan under which almost everything is covered for next five year for total premium of Rs.50000 around and the same will be added to monthly EMI of loan as per bank executive.

          Please advise that whether or not I go for the above plan or their is some better plan available.
          Rahul, these things are very much personal views. i looked at the current economy and knowing that working with a US MNC is tirckey than ever, i took the insurance. atleast it gives u 3 months period window when one gets laid off :| i'd buy this. you got to take your own call. personally i would suggest you to buy this. although my boss didnt seem to agree with my logic

          Comment


          • Re : KM Residency - Raj Nagar Extension - Ghaziabad

            Km residency- rne - bank loan insurance

            I have got my loan of Rs. 20 Lacs from OBC and insured by OBC only 96000 approixmately for complete loan period i.e. 25 years which is more good.


            What u r mentioning is only for next five years ???


            I advice to go for the same if available with HDFC.


            deepak



            Originally posted by RAHUL C View Post
            Hello Abhishek ji,

            When i visited the branch for first disbursement they also offered me the same HDFC ERGO Home Suraksha Plus plan under which almost everything is covered for next five year for total premium of Rs.50000 around and the same will be added to monthly EMI of loan as per bank executive.

            Please advise that whether or not I go for the above plan or their is some better plan available.

            Comment


            • Re : KM Residency - Raj Nagar Extension - Ghaziabad

              Originally posted by dsaxena29 View Post
              I have got my loan of Rs. 20 Lacs from OBC and insured by OBC only 96000 approixmately for complete loan period i.e. 25 years which is more good.


              What u r mentioning is only for next five years ???


              I advice to go for the same if available with HDFC.


              deepak
              What is the concept of "insuring the loan"? How can "loan" be insured? I think there is some misunderstanding between your understanding of the product and what the product actually is.

              Comment


              • Re : KM Residency - Raj Nagar Extension - Ghaziabad

                Km residency- rne - bank loan insurance

                YES, Home loan can be insured by the bank of its insurance agency. There is no misunderstanding in this concept.

                During the loan period if something unfortunate happened to the person who has taken the loan, the leftover loan would be paid by the insurance agency and the family of deceased person not required to pay any leftover installments of sanctioned loan.


                Originally posted by prasun View Post
                What is the concept of "insuring the loan"? How can "loan" be insured? I think there is some misunderstanding between your understanding of the product and what the product actually is.

                Comment


                • Re : KM Residency - Raj Nagar Extension - Ghaziabad

                  Originally posted by dsaxena29 View Post
                  YES, Home loan can be insured by the bank of its insurance agency. There is no misunderstanding in this concept.

                  During the loan period if something unfortunate happened to the person who has taken the loan, the leftover loan would be paid by the insurance agency and the family of deceased person not required to pay any leftover installments of sanctioned loan.
                  So it is actually the "life" of the property owner/borrower that is being insured, and not the "loan". The contingent liability of the Insurer Co.arises only on something happening (death) to the property owner/borrower, and not on something happening to the loan.

                  This is a good product - I agree every borrower should take this in addition to insuring the property. I only have to add this: On the death of the borrower, the Insurer pays the "entire loan outstanding" to the Lender (Bank/FI), and the loan stands paid in full. The Lender hands over the NOC and property papers to the legal heir, and the legal heir can take steps for mutation in his name.

                  I have a question though: If A & B are jt.owners and jt.borrowers, what will happen under this policy if either A or B dies?

                  Comment


                  • Re : KM Residency - Raj Nagar Extension - Ghaziabad

                    Originally posted by prasun View Post
                    So it is actually the "life" of the property owner/borrower that is being insured, and not the "loan". The contingent liability of the Insurer Co.arises only on something happening (death) to the property owner/borrower, and not on something happening to the loan.

                    This is a good product - I agree every borrower should take this in addition to insuring the property. I only have to add this: On the death of the borrower, the Insurer pays the "entire loan outstanding" to the Lender (Bank/FI), and the loan stands paid in full. The Lender hands over the NOC and property papers to the legal heir, and the legal heir can take steps for mutation in his name.

                    I have a question though: If A & B are jt.owners and jt.borrowers, what will happen under this policy if either A or B dies?
                    Answer to your question lies in your own statement : On the death of the borrower, the Insurer pays the "entire loan outstanding" to the Lender (Bank/FI), and the loan stands paid in full. The Lender hands over the NOC and property papers to the legal heir, and the legal heir can take steps for mutation in his name.

                    That's exacly what's going to happen if either one of A or B die..

                    Comment


                    • Re : KM Residency - Raj Nagar Extension - Ghaziabad

                      Originally posted by contactmarwah View Post
                      Answer to your question lies in your own statement : On the death of the borrower, the Insurer pays the "entire loan outstanding" to the Lender (Bank/FI), and the loan stands paid in full. The Lender hands over the NOC and property papers to the legal heir, and the legal heir can take steps for mutation in his name.

                      That's exacly what's going to happen if either one of A or B die..

                      Sir, the reason why I asked this question is because it may not be that simple. For example, in bank accounts, the nominee comes into the picture only on death of "all" account holders, and not on death of "any one" of the account holders. However, if you have bought such a policy and have come to the conclusion (your answer to my query) after reading the policy document, I trust that the liability arises on death of any of the life insured.

                      Comment

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