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ATS Kocoon, ATS, Sector 109, Gurgaon

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ATS Kocoon, ATS, Sector 109, Gurgaon

Last updated: May 27 2019
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  • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

    Originally posted by vb2309 View Post
    Too late to take a loan on this project bro
    Also 10 per cent is too high
    Two points to consider from CLP point of View -
    a) One needs to give 20% before any bank will disburse. I suggest to even pay the 3rd installment as well before taking disbursal. In clp the payment is staggered so do not start calculating interest from day one.
    b) Normally appreciation will far exceed the interest part (in decent projects) so in the end you usually make money.
    "Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition."

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    • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

      Originally posted by rs2507 View Post
      Two points to consider from CLP point of View -
      a) One needs to give 20% before any bank will disburse. I suggest to even pay the 3rd installment as well before taking disbursal. In clp the payment is staggered so do not start calculating interest from day one.
      b) Normally appreciation will far exceed the interest part (in decent projects) so in the end you usually make money.
      Well pointed out
      Nothing Surprises Me

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      • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

        Thanks for the info. PNB is also offering me 10.75%, and I am trying to bargain for 10.5%. I believe rates will any-ways come down further in a few months.

        Here the prepayment clause is more relaxed. No penalty even if loan is re-financed and not paid from own funds. Axis bank also has this relaxed pre-payment clause.
        regards

        Originally posted by rs2507 View Post
        No pre payment penalty if you have funds in your account i.e. your own funds. If not they will charge some one time charges as closure charges on the outstanding amount.
        I am not sure, may be 2% or so

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        • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

          Originally posted by beowulf View Post
          Thanks for the info. PNB is also offering me 10.75%, and I am trying to bargain for 10.5%. I believe rates will any-ways come down further in a few months.

          Here the prepayment clause is more relaxed. No penalty even if loan is re-financed and not paid from own funds. Axis bank also has this relaxed pre-payment clause.
          regards
          Yes both valid points. rates should come down now. Secondly in case of re-finance no penalty. It is only when you sell, you should have your own funds to pre pay.
          Regards
          "Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition."

          Comment


          • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

            A hypothetical question.

            I booked a flat at CLP price with total cost of 60L, of which I would take loan of 20L. Till now I have paid 20L to builder. Can I ask bank to pay the next 20L of payments and I will pay the last 20L amount? Or bank will always pay when I have completed rest of payments (40L in this case). The idea is that by the time bank will pay his payment of 20L in CLP, I would generate rest of the payment from my own resources.

            The other option would be to take loan of 40L from bank, and do prepayments as and when I generate money during the course.

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            • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

              Originally posted by vinaybhatia View Post
              A hypothetical question.

              I booked a flat at CLP price with total cost of 60L, of which I would take loan of 20L. Till now I have paid 20L to builder. Can I ask bank to pay the next 20L of payments and I will pay the last 20L amount? Or bank will always pay when I have completed rest of payments (40L in this case). The idea is that by the time bank will pay his payment of 20L in CLP, I would generate rest of the payment from my own resources.

              The other option would be to take loan of 40L from bank, and do prepayments as and when I generate money during the course.
              Yes, you can go with the 1st option. Generally there are 2 restrictions with a home loan.

              1. You need to get the loan disbursed within x no of months, from the date of sanction ( check with your bank ).

              2. You need to make 20 % of the payment, before loan can be disbursed.

              -SK

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              • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                Originally posted by beowulf View Post
                Thanks for the info. PNB is also offering me 10.75%, and I am trying to bargain for 10.5%. I believe rates will any-ways come down further in a few months.

                Here the prepayment clause is more relaxed. No penalty even if loan is re-financed and not paid from own funds. Axis bank also has this relaxed pre-payment clause.
                regards
                PNB is going down to 10.4% so negotiate well.

                Comment


                • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                  Originally posted by rs2507 View Post
                  Two points to consider from CLP point of View -
                  a) One needs to give 20% before any bank will disburse. I suggest to even pay the 3rd installment as well before taking disbursal. In clp the payment is staggered so do not start calculating interest from day one.
                  b) Normally appreciation will far exceed the interest part (in decent projects) so in the end you usually make money.
                  Now many banks are even giving 15%.. depending on profile; it's not the same days as the good old 10% era but still better than 20%. There is also another option of pro-rata available in many banks; what that means is if one is short of the 15%/20%.. then for future installments the bank and the individual will make pro-rata payments. One can explore this as well.

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                  • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                    I had taken a pre-appr. from HDFC which will expire this month and I'll have to likely re-apply. Let me know the rate if anyone is targeting above 75L loan.

                    BTW last Fri. I received the flashy project brochure along with letter from the acct. manager.

                    Anyone received the BBA yet ? Any word on when the ground breaking will happen ?

                    Cheers !

                    Comment


                    • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                      Hi Sikka Ji.

                      Morning...I to received a call from Customer Services introducing themselves and thanking etc...

                      They shared that they have send out brochures.

                      I also understood that BBA are being processed and in case of a loan scenario it can be processed on a priority immediately.

                      Hope that helps.

                      VB
                      Nothing Surprises Me

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