Hi All,

This is the thread for the buyer of Gaur city-2, 12th Avenue. Please post your experience and concern/query here. Please do not get confused between 12th Avenue and Galaxy North Avenue 2. Both are different.

Lets get started.

I have inquired by myself about the loan. HDFC is for sure ready to sanction. There was news that SBI is also giving loan as it was evident from their website but I wrote email to them, then they confirmed that they are not sanctioning any new loan against gaur city-2.

I have received a confirmation for corporation bank also. I shall proceed with corporation so will keep posting the further updates.

Thanks
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  • Originally Posted by akapil11
    hi all,
    Thanks for all your help in booking flat in 12th Avenue. This site is definitely useful for a fruitful interaction with other buyers.
    1) I booked flat but I am not sure how the whole process go from here. They have given a stamped photo copy of the application form as a confirmation right now. So my query is that what are the things we should expect in coming days.
    2)First thing is definitely allotement letter. When I should expect it?
    3)how the demand letter and loan disbursement goes from here?

    Definitely booking flat is not a big deal but going through the loan process, getting documents in right time (to revert any penalties) and payment is a big deal.

    Any help is appreciable. Thanks.


    1. You pay the booking amount to builder/broker. "get the recipt for this"
    2. Builder will give Agreement document + demand letter.
    3. With these document, You apply for HL.
    4. HL got approved. Bank will ask "some document for loan disbursment".
    5. Builder will provide these document.
    6. Submit these document to bank , Bank will disburs the required amount per demand letter.

    Advisable:- Keep the sacned copy of "each" document. as some origional documents shall be submitted to bank.

    I can say , I have gone throgh above steps(for 12th avenue+ HDFC) . Other builder/Bank may have diffrent steps.
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  • Thanks for the reply. I have also gone with HDFC.
    I have few more questions on top of this:
    1) So agreement document is the real confirmation of flat booking? In how many days I should expect this document to be prepared from builder?
    2) What about the reciept we should get. Is it a different kind of document?

    The reason of my curiousity is that I did not recieve any confirmation (either mail or call)from builder. Not even 10% amount is deducted from account.

    Originally Posted by Not007
    1. You pay the booking amount to builder/broker. "get the recipt for this"
    2. Builder will give Agreement document + demand letter.
    3. With these document, You apply for HL.
    4. HL got approved. Bank will ask "some document for loan disbursment".
    5. Builder will provide these document.
    6. Submit these document to bank , Bank will disburs the required amount per demand letter.

    Advisable:- Keep the sacned copy of "each" document. as some origional documents shall be submitted to bank.

    I can say , I have gone throgh above steps(for 12th avenue+ HDFC) . Other builder/Bank may have diffrent steps.
    CommentQuote
  • Originally Posted by akapil11
    Thanks for the reply. I have also gone with HDFC.
    I have few more questions on top of this:
    1) So agreement document is the real confirmation of flat booking? In how many days I should expect this document to be prepared from builder?

    - I feel you must chase them for agreement document. For them it is a matter of 1 day only. In this "organised crime" reality sector (at least in NCR), you have to believe on agreement document as authentic doc. It is on stamp paper.

    2) What about the reciept we should get. Is it a different kind of document?
    - You may also needed to chase them. (to builder , not broker) . Without reciept HDFC will not disburs the loan.

    The reason of my curiousity is that I did not recieve any confirmation (either mail or call)from builder. Not even 10% amount is deducted from account.


    -Yes it takes time. But builder will give you very short period btween handing over the agreement to you & 2nd installment date. So please chase them for reciept.

    :)

    Mind it, Gaursons is also a builder, though he have delivered very quality work in the past.
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  • Guys any update of construction. Does anyone knows what floor is being built now. Is there any link for latest pics.
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  • Originally Posted by Not007
    -Yes it takes time. But builder will give you very short period btween handing over the agreement to you & 2nd installment date. So please chase them for reciept.

    :)

    Mind it, Gaursons is also a builder, though he have delivered very quality work in the past.


    chase them, make sure you keep everything in written. They won't listen afterwards.
    u need to get the booking confirmation first,
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  • Originally Posted by rajendras
    Guys any update of construction. Does anyone knows what floor is being built now. Is there any link for latest pics.


    some where on Facebook, i saw second floor roof slab is completed.
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  • Originally Posted by dreamshome
    chase them, make sure you keep everything in written. They won't listen afterwards.
    u need to get the booking confirmation first,


    After 15 days of booking I got allotment letters and got next demand date as 17th Oct. Now one month would be good enough to get disbursal from bank.
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  • Originally Posted by dreamshome
    some where on Facebook, i saw second floor roof slab is completed.


    thank you sir.
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  • Originally Posted by akapil11
    After 15 days of booking I got allotment letters and got next demand date as 17th Oct. Now one month would be good enough to get disbursal from bank.



    Banks will ask for following documents

    1. Tripartite agreement
    2. Lien letter
    3. Mortgage letter in favor of bank

    Get these from builder and push the bank the sanction the loan.
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  • Originally Posted by sandeepkh
    Banks will ask for following documents

    1. Tripartite agreement
    2. Lien letter
    3. Mortgage letter in favor of bank

    Get these from builder and push the bank the sanction the loan.


    Are these documents required for Sanction or disburasal?
    How much time it will take for them to prepare this document. My next due date it 17th Oct.
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  • Required for disbursal but still get them ASAP because some bank wants these letter as per their desired format and that might be time consuming.

    Other wise builders do have already drafted documents, they just need to print the relevant details on it but still have some bandwidth.

    Hope that helps.
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  • Originally Posted by akapil11
    After 15 days of booking I got allotment letters and got next demand date as 17th Oct. Now one month would be good enough to get disbursal from bank.



    If all ur documents are ready then you would get the disbursement within 1 month.

    I got the loan sanctioned by SBI. You may try it (SBI maxgain HM). Kafi helpful hai SBI staff. I had misconception that Sarkari tarah se kaam hoga but really they are doing a g8 job for HM.
    Koi agent ya commision bhi nhi. Just processing fee+ stamps paper.

    I suggest you try SBI bisrakh or SBI Sec 7.
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  • Originally Posted by del_sanju
    If all ur documents are ready then you would get the disbursement within 1 month.

    I got the loan sanctioned by SBI. You may try it (SBI maxgain HM). Kafi helpful hai SBI staff. I had misconception that Sarkari tarah se kaam hoga but really they are doing a g8 job for HM.
    Koi agent ya commision bhi nhi. Just processing fee+ stamps paper.

    I suggest you try SBI bisrakh or SBI Sec 7.


    Dear Sanju,

    Can you pls. tell me the complete documents required to get loan from SBI bank. As after discussing the same from one of nationalized bank BOI they are saying that at per instruction from RBI none of nationalized bank is sanctioning loan against Flexi plan.
    Also if possible pls. share any contact detail for same.
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  • Originally Posted by Mrinal401
    Dear Sanju,

    Can you pls. tell me the complete documents required to get loan from SBI bank. As after discussing the same from one of nationalized bank BOI they are saying that at per instruction from RBI none of nationalized bank is sanctioning loan against Flexi plan.
    Also if possible pls. share any contact detail for same.


    Documents

    1 4 Passport Size photograph

    2 Passport/Driving license / Voter ID / PAN CARD

    3 Residence Proof ( Telephone Bills Electricty Bill / Passport

    4 Salary Certificate from employer ( if u r salaried )

    5 Last 6 months bank statement

    6 Copy of IT returns for 2 financial years
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  • Dear Abhay,

    Can you pls. share documents details that is needed from builder Side like BBA,Allotment letter etc.
    thanks in advance!!!
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