Message from a Broker
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Unitech Launch Floors in Nirvana Country -3 Sec -70 Gurgaon, in 1st week of June.

Tentative Area – 180, 240,360,400 and 500 sqyd.

Cheque Amount – 6lac and 10 lac.

In favour of “Unitech Ltd”.
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  • Originally Posted by smart111
    For my earlier quote, it was 20% minus the registration money which is to be paid to the builder (unitech) in 45 days time. It also has 50% of the govt and statutory charges in it.

    Normally its when you sign the papers and you are formally alloted a unit on paper by the builder that the time starts ticking. Dealing with Unitech for the first time so not able to comment on it, may be Amitji can help in this regard.

    so will it be another 10% if you take the initial amount into consideration?? also when will they adjust any broker discounts etc
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  • Your allotment date will be the day when they tell u the unit number and that date will be mentioned on the allotment letter. So if they tell u ur unit no let's say on aug 15 that is your allotment date irrespective of when u get the actual letter . The clock starts ticking from the allotment day . For example in case of southpark they did the allotment on the day of launch but the letter came after two weeks. The clock starts ticking from the day of allotment and the same is reflected on the letter. Rs the discount is adjusted in the bsp and all the payments are based on that bsp so broker discount gets adjusted through out the payment cycle
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  • Unitech Anthea Floors in sector 70 are already started attracting premium .. atleast the FF.

    This should be a good investment for 12 months time frame .. :))
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  • Amit,

    Pl. clarify on 1 thing.

    I feel once they get payment .i.e once the cheque is cleared then only they can issue the allotment letter and the date for next installment starts from there ..

    Is my understanding clear..??

    KS
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  • Originally Posted by amit001
    Your allotment date will be the day when they tell u the unit number and that date will be mentioned on the allotment letter. So if they tell u ur unit no let's say on aug 15 that is your allotment date irrespective of when u get the actual letter . The clock starts ticking from the allotment day . For example in case of southpark they did the allotment on the day of launch but the letter came after two weeks. The clock starts ticking from the day of allotment and the same is reflected on the letter. Rs the discount is adjusted in the bsp and all the payments are based on that bsp so broker discount gets adjusted through out the payment cycle


    Thanks Amit for insight details. Ironically my unit number has been informed to me but no layouts and no costing details, for which I am still waiting.
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  • Originally Posted by rs2507
    so will it be another 10% if you take the initial amount into consideration?? also when will they adjust any broker discounts etc


    RS, the discount offered by unitech can be adjusted in the BSP to the tune of 2% only. This is what I got to know from the broker. If you have negotiated for more discount, it will be a credit note from the broker which can be encashed only when you have paid 30% to 40% of the payment.
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  • Originally Posted by amit001
    Your allotment date will be the day when they tell u the unit number and that date will be mentioned on the allotment letter. So if they tell u ur unit no let's say on aug 15 that is your allotment date irrespective of when u get the actual letter . The clock starts ticking from the allotment day . For example in case of southpark they did the allotment on the day of launch but the letter came after two weeks. The clock starts ticking from the day of allotment and the same is reflected on the letter. Rs the discount is adjusted in the bsp and all the payments are based on that bsp so broker discount gets adjusted through out the payment cycle

    Amit Bhai,
    as I understand, you mean to say that initial discount from Unitech will be adjusted in BSP (which installment - 2nd??) also if dealer discount will get adjusted in BSP, which again means in installments. Now my question is - strictly from investor point of view... when this unit will be sold, this discount will get passed to the next buyer? is it so. if so, how come an investor gets benefited.
    Please clarify since you have dealt with Unitech earlier.
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  • RS see how it works. When I bought Southpark, The company price was 5395

    Unitech pre launch discount was 400 and the broker discount was 2% (all adjusted in bSP)

    So in my allotment letter and BBA the net BSP was as follows:

    5395-400-100(2% of 4995) = 4895

    So my total BSP comes out as 1600 * 4895 = 78,32,000

    Initial money was given as 8,00,000

    So now every 10% instalment is calculated on the BSP which is 78,32,000

    Now when all the discount gets adjusted in BSP, the first owners cost reduces now for me cost if 4895 if in resale price is lets say 5200 I can get premium of 5200-4895= 305

    I can take from the resale buyer all the money I pay to unitech + 305*1600=488,000

    Always try to get the discount adjusted in BSP....avoid credit notes

    Credit notes gets payable (if at all) after you pay 30-40% to the builder by the time many people sell their unit and in that case broker is not required to pay on that credit note and it gets null and void
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  • In case of floors the UNitech discount is in rupee terms - 1.5-2 lakh so it will be reduced from the BSP and all % payments will be calculated on reduced BSP...

    The first investor will get the entire benefit of this discount as the premium is calculated from the BSP and this discount will reduce your BSP on the paper.
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  • Kapil the next instalment starts from the "Allotment Day" - when you are allotted the Unit, the letter may take a week or so from when your are allotted the unit. So it will be 45/50 days from your allotment day


    Did you also buy the floors - which size, what price and what all dicsounts you got?

    Originally Posted by kapilsoft
    Amit,

    Pl. clarify on 1 thing.

    I feel once they get payment .i.e once the cheque is cleared then only they can issue the allotment letter and the date for next installment starts from there ..

    Is my understanding clear..??

    KS
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  • All buyers please try to get the 2% discount adjusted in BSP. Many brokers will tell you that only 1.5% can be adjusted which is wrong...Even if some body buys directly from unitech they always adjust 2% in BSP...
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  • Originally Posted by amit001
    RS see how it works. When I bought Southpark, The company price was 5395

    Unitech pre launch discount was 400 and the broker discount was 2% (all adjusted in bSP)

    So in my allotment letter and BBA the net BSP was as follows:

    5395-400-100(2% of 4995) = 4895

    So my total BSP comes out as 1600 * 4895 = 78,32,000

    Initial money was given as 8,00,000

    So now every 10% instalment is calculated on the BSP which is 78,32,000

    Now when all the discount gets adjusted in BSP, the first owners cost reduces now for me cost if 4895 if in resale price is lets say 5200 I can get premium of 5200-4895= 305

    I can take from the resale buyer all the money I pay to unitech + 305*1600=488,000

    Always try to get the discount adjusted in BSP....avoid credit notes

    Credit notes gets payable (if at all) after you pay 30-40% to the builder by the time many people sell their unit and in that case broker is not required to pay on that credit note and it gets null and void

    Sir,
    Thanks for such clear explanations, I am very clear now. You are also right on dealer discount. Couple of guys told me that a credit note will be given after 3rd installment. the reason being Unitech rules etc etc.
    Now we shall force to get this adjusted in BSP. you also mentioned directly from Unitech? do they deal directly as well.
    Thanks in advance
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  • RS bhai,

    Yes...you can give cheques directly to Unitech also and they adjust 2%. However there is a risk of not getting the desired unit in that case. We all have our full time jobs so for us it is not possible to be there on the launch day/allotment day to get the right unit, so some times a broker is a necessary evil. Atleast tell broker that Unitech is willing to adjust all discount so whatever the broker is offering whther its 1.5 or 2 get all adjusted in BSP

    Best policy is to have a trusted broker who can assure 2% adjusted in BSP.

    Try to get it, but give priority to the right unit...In case of smaller units some times brokers do not offer 2% as there is too much competition. Priority should be to get the builder disocount and the desired unit. 0.5% is not a game changer

    What i wanted to say is even a 1.75% adjusted in BSP is better than 1.5% adjusted and .5% credit note... Enc hashing the credit note is always a painful process...also most of the investors sell before 40% so they never get to taste the amount of credit note
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  • Originally Posted by kapilsoft
    Unitech Anthea Floors in sector 70 are already started attracting premium .. atleast the FF.

    This should be a good investment for 12 months time frame .. :))



    Kapil - What premium is being quoted, what size?
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  • Originally Posted by amit001
    RS bhai,

    Yes...you can give cheques directly to Unitech also and they adjust 2%. However there is a risk of not getting the desired unit in that case. We all have our full time jobs so for us it is not possible to be there on the launch day/allotment day to get the right unit, so some times a broker is a necessary evil. Atleast tell broker that Unitech is willing to adjust all discount so whatever the broker is offering whther its 1.5 or 2 get all adjusted in BSP

    Best policy is to have a trusted broker who can assure 2% adjusted in BSP.

    Try to get it, but give priority to the right unit...In case of smaller units some times brokers do not offer 2% as there is too much competition. Priority should be to get the builder disocount and the desired unit. 0.5% is not a game changer

    What i wanted to say is even a 1.75% adjusted in BSP is better than 1.5% adjusted and .5% credit note... Enc hashing the credit note is always a painful process...also most of the investors sell before 40% so they never get to taste the amount of credit note



    I negotiated for 2.25% from the broker. He agreed to get the BSP reduced by 2% and .25% as cash after 40% payment is done to unitech which is mentioned in credit note.
    2% adjustment is done for sure by Unitech in BSP.
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