I am planning to buy Floor in BPTP's Astaire garden project. Project is located in sector 70a of gurgaon. Does anyone know about this builder and this project. Will it be good investment for next 5-6 yrs. Please provide your comments/thoughts.

I also heard UNitech launching floors in sec 70. Looks like floors are in demand.
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  • Dear smahipal

    I have also received the same mail from HDFC.
    The HDFC mail clearly indicates the subvention scheme for the BPTP pedestal project is a fixed period subvention till 30th sept, 2015. This clearly indicates the violation of original condition of making payment of Pre-EMI upto offer of possession of the flat to the buyer by the builder and the same has to be fulfilled within the period of 36 months.

    As a customer i am worried about the payment of Pre-EMI instalments before possession of the flat which is a heavy financial burden.

    I request to valuable customers to clarify that if i want to withdraw my application from the BPTP pedestal project, what amount will i be loosing from the amount paid for the said project. Till now i had paid 15% of cost of property.

    Regards


    Originally Posted by smahipal
    BPTP Pedestal , i got email from HDFC bank , which says Subvention is till only 30th Sep 2015 but it was sold on condition until possession
    any body has any info about it , i guess all buyers need to get it clarified from builder

    Dear sir,

    We have recently signed up for a Pre-EMI subvention scheme with BPTP for their project Pedestal Floors and Visionnaire Homes, Sector 70/70A, Gurgaon. Please go through the features below carefully.



    Salient features of the scheme are as follows :
    Scheme is available for all fresh bookings in individual name.
    Standard ARHL rates as per loan slab will apply to all loans.
    No loans at fixed ROI please.
    Cost components : Basic, PLC, EDC, IDC and Car Parking only. All other charges are to be borne by the customer.
    LCR is to be maintained at 80% of property cost as per cost components defined above for loans upto Rs 75 lacs, and at 75% of property cost for loans above Rs 75 lacs.
    No pro-rata disbursements can be done under the scheme.
    No Insurance funding to be done
    No Tranching of loan to be done

    Disbursement Pattern under the scheme
    On booking : 15% of cost by customer
    Commencement of construction : 25% of cost by HDFC
    On FF Slab : 10% of cost by HDFC
    On SF slab : 30% of cost by HDFC
    On external plaster completion : 10% or 15% of cost by HDFC depending on LCR offered
    On offer of possession : 5% or 10% by customer depending on LCR offered
    All properties to be selected from regular property masters
    BPTP will subvent Pre-EMI interest on behalf of the customer from date of first disbursement till 31st Aug 2015 for Visionnaire Homes and upto 30th Sept 2015 for Pedestal Floors.
    Please use the FRIL calculator to run the subvention calculations and fix internal adjustment for the recovery of subvention amount.
    Beginning Sept 2015/Oct 2015, customer will need to start paying Pre-EMI/EMI to HDFC at the then prevailing ARHL rate. End of subvention term may not coincide with offer of possession as this is a fixed period subvention scheme.
    Customer is free to make prepayments as per current prepayment policy. However, if any prepayments are made during the subvention period, no Pre-EMI will be refunded to the Builder/customer under any circumstance.
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  • Originally Posted by visuhari
    Dear smahipal

    I have also received the same mail from HDFC.
    The HDFC mail clearly indicates the subvention scheme for the BPTP pedestal project is a fixed period subvention till 30th sept, 2015. This clearly indicates the violation of original condition of making payment of Pre-EMI upto offer of possession of the flat to the buyer by the builder and the same has to be fulfilled within the period of 36 months.

    As a customer i am worried about the payment of Pre-EMI instalments before possession of the flat which is a heavy financial burden.

    I request to valuable customers to clarify that if i want to withdraw my application from the BPTP pedestal project, what amount will i be loosing from the amount paid for the said project. Till now i had paid 15% of cost of property.

    Regards



    they will try to forfeit your 15% amount.

    ask them ???
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  • Hi BPTP Pedestal Buyers

    i have contacted them many times and looks like they are trying to cheat the customers yet again
    we are trying to form a group and meet their management or somebody to get clarification about this new development

    please join facbook group "BPTP Astaire Garden" or mail me your details to sachin.mahipal at .com

    let see what we can do here,

    1. Cancelling the floor wont help, your all 15% will be gone and then long legal battle.
    2. They are saying that they will extend the subvention after Nov-2015 , but no written agreement on that.

    we need to go in group and build pressure on BPTP . rest i would appeal if anybody knows any lawyer ,who can give us guidence .

    Please be informed that BPTP has raised demand with last date of 26th Nov 2013, hence they are not leaving much time with us to fight with them.

    Thanks
    Sachin
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  • Dear All

    To my surprise, today i have received allotment letter for the unit no. D-56-SF with the specifications mentioning 2 bed room flat with servant quarter. Anybody having any idea about this servant quarter comes from in a 2 BHK floor.

    I hope everybody who has invested in this project, must have received the allotment letters or may be soon receiving the letters, without the consent of the investors.


    Regards
    Hari Krishna
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  • i receivd it too, D-52-SF, i was hoping they will call us for draw or selection, nothing happened and also you are right, i do not see any servent quarter in the floor plan. need to clarify from the builder

    Thanks
    Sachin
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  • SF means second floor, Did you give the preference to second floor or they just provide the second floor to you. Any corner or green facing location for smahipal or visuhari??
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  • i applied for Second floor , so i got 2nd floor but i was not asked to choose from available units or by draw
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  • Suggest you approach BPTP and tell them if you need any corner or park facing units.
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  • Then they will ask for PLC , which is again 4-5 lakhs.
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  • Hi Nitin

    Did you get any kind of response from BPTP on the "Offer till possession" and now they are putting the date in TPA till Nov-2015.

    Thanks
    Sachin
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  • I have no holding in the project.
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  • BPTP is one of the MOST FRAUDULENT BUILDER IN INDIA. NEVER BUY ANY OF THE UNDER-CONSTRUCTION/NEW PROJECT OF BPTP EVEN IF 25-30% CHEAPER THAN THE MARKET. REASONS:

    1. They have very vague ESCALATION COST clause in Builder Buyer Agreeement (BBA) with which they charge around 20% of original flat cost at the time of offering possession.

    2. They have HISTORY OF SELLING PROPERTY WHICH THEY DON'T HAVE. They have sold 530+ covered car parking where actually there were only 470 car parking

    3. Whole management is Fraud, their MD (Kabul Chawla) is absconding as there was arrest warrant against him for dodging customers money.

    4. They dodge Government dues as well and this has resulted in cancellation of one of their licenses on Dwarka Expressway (Though cancellation revoked later on)

    5. People are right when they define BPTP as 'Bure Phase Tere Paas'.

    COMPANY WHICH FOLLOWS UNETHICAL TRADE PRACTICES AND WHOSE INTENTIONS ARE BAD, CAN DO BAD BEYOND THE IMAGINATION OF ALL OF US. SO AVOID BUYING ANY OF THE NEW PROJECTS/ UNDER-CONSTRUCTION PROJECTS OF BPTP.

    There is minimal risk in buying ready-to-move project of BPTP where RWA has already been formed so BPTP has no role to play.
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  • BPTP is one of the MOST FRAUDULENT BUILDER IN INDIA. NEVER BUY ANY OF THE UNDER-CONSTRUCTION/NEW PROJECT OF BPTP EVEN IF 25% CHEAPER THAN THE MARKET. REASONS:

    1. They have very vague ESCALATION COST clause in Builder Buyer Agreeement (BBA) with which they charge around 20% of original flat cost at the time of offering possession.

    2. They have HISTORY OF SELLING PROPERTY WHICH THEY DON'T HAVE. They have sold 530+ covered car parking where actually there were only 470 car parking

    3. Whole management is Fraud, their MD (Kabul Chawla) is absconding as there was arrest warrant against him for dodging customers money.

    4. They dodge Government dues as well and this has resulted in cancellation of one of their licenses on Dwarka Expressway (Though cancellation revoked later on)

    5. People are right when they define BPTP as 'Bure Phase Tere Paas'.

    COMPANY WHICH FOLLOWS UNETHICAL TRADE PRACTICES AND WHOSE INTENTIONS ARE BAD, CAN DO BAD BEYOND THE IMAGINATION OF ALL OF US. SO AVOID BUYING ANY OF THE NEW PROJECTS/ UNDER-CONSTRUCTION PROJECTS OF BPTP.

    There is minimal risk in buying ready-to-move project of BPTP where RWA has already been formed so BPTP has no role to play.
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  • I am absolutely new to this forum. The idea to join is to take advise from senior members here. We are looking for a builder floor in BPTP 70 A Astaire project this is purely for END -USE and not Investment purposes.
    - Plz advise how is the project (Monet floors-196 sq yd) esp keeping in mind BPTP's ongoing derailed reputation
    - What is the current market price for a second floor?
    - By when you guys feel this area will be liveable and project delivery.
    - Monet VS Pedestal

    We really liked the layout and usage of area, looking forward to hear from you.
    Plz advise and help us take the right decission and apply our money prudently.. :)
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  • Originally Posted by UMARSH
    I am absolutely new to this forum. The idea to join is to take advise from senior members here. We are looking for a builder floor in BPTP 70 A Astaire project this is purely for END -USE and not Investment purposes.
    - Plz advise how is the project (Monet floors-196 sq yd) esp keeping in mind BPTP's ongoing derailed reputation
    - What is the current market price for a second floor?
    - By when you guys feel this area will be liveable and project delivery.
    - Monet VS Pedestal

    We really liked the layout and usage of area, looking forward to hear from you.
    Plz advise and help us take the right decission and apply our money prudently.. :)
    Please read Post 151 carefully.
    CommentQuote