Originally posted by sikkaji
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Hope u all find this info about ATS relevant .Till yesterday it was 5400 on subvention but today they again changed it to 5450 whereby saying chances r there for the rate being 5500.Now looking at the total scenario they have tied up with India bulls for this project on subvention.what the builder benefits from this is that after u pay the initial 15% of the total cost(not the BSP cost) they wud get the rest of the amount of the total unit cost from Indiabulls within 2-3 months.Now this means legally u paid the total amount in downpayment.but u get a buffer of 1 and a half year of no payment.
Now builder generally follow this method to gather funds at a go whereby they can diversify these funds some where else.
For the clients the only advantage is they get 1 n a half year buffer.
Disadvantages
1. a unit costing u 1cr , u wud be paying almost 1 lac per month after 1 n a half year.
2. people looking for investment n thinking of exiting in another 2 year,he wud find it difficult to find buyer as no buyer wud want to acquire a half constructed unit for which he wud immediately have to pay 1 lac of interest immediately.
3. Godforbid if the builder delays the project say 1 year u wud end up paying 12 lacs extra to the bank.
I wud like yr views onto my opinion n correct me likewise.
Thanks.
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