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- Originally Posted by offshore1984I have invested in a project at 7x and currently I have paid 60% of amount from own sources. then I applied for a loan and now my first Disbursement is ready.
Please suggest should I take the disbursement or wait for some more time.
Someone please let me know as I am staying in Punjab and have no idea about Noida Authority and the things happening over there..
Thanks in advance.
Hope you understand that disbursement happens only when there is a demand from the builder.
Think logically, you already paid 60%. Next demand may be at the most 15% (generally 7-10%) ... Demand is based on some milestone in construction like top floor casting, flooring, etc. As long as the builder deliver that milestone, you are legally bound to pay as per your BBA. You can delay that on some pretext ... but you can not stop it indefinitely. jahan 60% dav pe laaga hain wahan aur 15% se kaun sa pharak padega.
Wait for formal demand letter from your builder... then buy some time if you are not comfortable and finally pay when the demand is too intense..... unless you have solid point to delay your payment further.CommentQuote0Flag
- Thank you so much ondabhai....m a great follower of ur posts...
Actually this is my first disbursement from bank..and I am confused whether to take or not from bank.
the 60% amount is from my own sources but if I take the disbursement from Bank then my papers will be retained by the bank itself and if there starts any dispute then merely for 7% of bank's disbursed loan my 60% payment is also in a deadlock as the bank will take his money first and then will release my money.
Please suggest something.
- If you are not comfortable ... I would suggest you to arrange your own fund and keep ready. Thoda kicho .. manage ho jayega!!CommentQuote0Flag