I would like to know location , price & more details of Ansal API's Sovereign Floor in Esencia - sec-67 , Gurgaon . How is this project from investment point of view ? I also want to know if Floors has more demand in market or Apartment ?
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  • I had a look at the Subvention scheme offered by Ramprastha Edge Towers , sometime back in June/July .

    Normal BSP at that time was 2800 & BSP under Subvention scheme was 3000 .



    Originally Posted by amit001
    I am not sure if the BSP will be higher...

    AmitMM - Would you have an idea on that
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  • Ya with ramaprastha it is there....

    If its there in Ansal also then it will make the already expensive project even more expensive....

    AmitMM is aware I guess
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  • It could be a marketing effort by the company to sell the existing floors and may be it will bear whatever direct or indirect cost is there....
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  • It is really very simple .

    There r no free lunches .

    If Ansal does not recover the interest by keeping a higher BSP under the Subvention scheme , it would recover it in some other way.

    The interest has to go from yr. pocket & the builder is not going to bear the cost .

    Sometimes , bank charges an higher rate of interest if u take a loan under this scheme than to the normal house loan , as only a few banks are participating in such schemes and so you don't have options .


    Originally Posted by amit001
    Ya with ramaprastha it is there....

    If its there in Ansal also then it will make the already expensive project even more expensive....

    AmitMM is aware I guess
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  • Ya u could be right on this
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  • If u find a Subvention scheme , where the BSP is not higher than the normal BSP or the bank giving the scheme, not charging u higher interest than the normal home loan or there is no hidden catch , do let me know , i would be very much interested in booking in Esencia or any other decent project .

    Another negative is that u do not get any broker discount , under this scheme.

    The worst is that such schemes help in creation of a bubble in RE at some point of time .





    Originally Posted by amit001
    Ya u could be right on this
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  • Broker discount is there Manoja...

    I will get back to you with more details
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  • Do let me know . If there is a subvention scheme without a catch , i am all game for it .

    Originally Posted by amit001
    Broker discount is there Manoja...

    I will get back to you with more details
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  • Take a look at this link -

    http://money.outlookindia.com/article.aspx?266228


    Originally Posted by amit001
    Ya u could be right on this
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  • amit001 ,

    U could be right on this .

    I spoke to HDFC guys & as per them , there r no hidden costs on the subvention scheme & the BSP also remains the same . They r mailing me the papers , to this effect .
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  • Manoja, could you please share the same with meas and when you get it...
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  • Yes , sure . Waiting for the mail to come in .PM , me yr. mail id.

    Originally Posted by amit001
    Manoja, could you please share the same with meas and when you get it...
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  • Originally Posted by MANOJa
    Do let me know . If there is a subvention scheme without a catch , i am all game for it .



    I have already applied under Interest Subvention scheme with HDFC, Following is the details of subvention scheme and received below mail from HDFC

    -------------------------------------------------------------------


    We are glad to inform you that HDFC have signed up a Pre-EMI Subvention scheme with Ansal API & Ansal Townships Infrastructure Ltd for their project - Esencia floorsIn Gurgaon.
    Scheme is applicable under direct allotment case.

    Under Pre-EMI subvention scheme,
    Ansal API will subvent interest on behalf of the customer for all disbursements done from date of disbursement till 31st August 2012.
    Beginning 1st September 2012, customer will need to start paying EMIs to HDFC at the then prevailing ARHL rate.




    Disbursement Pattern





    · Booking amount : 10% of cost (from customer) + 10% within 60 days (from customer)





    · First Demand : 30% of cost on completion excavation (from loan)





    · Second Demand : 30% of cost On Completion of first floor roof slab (from loan)





    · Third Demand : 15% of cost On completion of Internal finishing (from loan)





    · Final Demand : 5% on possession (from loan)
    Note:- Any change in payment plan & schemefrom builder & HDFC will applicable


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  • What r the prices of the different floors under the Subvention scheme ?
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  • AmitMM ,


    Spoke to Ashutosh1010 , just now & edit your post , by deleting _______. U could get ______

    Originally Posted by AmitMM
    manoj,amit look into it.... sounds good..
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