Hi Veterans/AWC flat owners/Friends

I have gone through other threads posted on this forum regarding Assotech Windsor Court but couldn't conclude any verdict for an end user who wishes to buy a flat at AWC. Also because the BSP at AWC gets updated so often even before thread gets updated at this forum...

Coincidentally I met someone yesterday who claims to have good contacts within Assotech management. Being a close relative of my father in law he assured me he can get me the best deal possible at AWC, though the current price list at AWC website makes me afraid at BSP of around 4500 psf in CLP..

I currently live in Indirapuram, pay around 20k as rent, i can save not more than 30k per month from my earnings, have current savings of around 5 lacs only which indicates i would need to take as much loan as possible if i plan to buy a flat and then its important to mention that i will be a dad to a new born in another 3 months...

I am actually not sure what all inclusive price i might get but with all the above stats mentioned above lets say if i get a deal for around 3800-4000 rs all inclusive directly from Assotech..do u guys believe that at the moment it will be a steal for me ? And does it seem feasible with my account holdings and plans mentioned above ?

As of now, i am just assuming that CLP is the plan i am made for...coz Flexi means paying high EMI from the very first month which i might not be able to afford all of a sudden..

Though i have always been biased towards Indirapuram but this sudden conversation with the relative last evening and being an admirer of Assotech i am bound to request u guys to kindly spare a minute to give me ur valuable suggestions to help me decide going ahead or not...
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  • Friend,

    you should be aware that you have to finance 20% pf the total cost from your pocket. Of this, 5% is payable on possession, so bank may consider. So you need to put at least 15% of the property cost initially.

    So your budget for flat would be 33L MAX, on which loan amount would be 28L.

    Using rate of 4000 psf all incl, size = 33L/4k = 825 sqft

    I think smallest size in this project is 990 sqft. So it is out of your budget. For it to fit your budget, you would need to get rate of 33L/990 = Rs 3333 psf ALL INCL (even service tax).
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  • Thanks Kapil.Yes i had also read this post and even commented on it at the veru first page.

    But Springfields is a project by Assotech realty ( assotech.in ) while Windsor Court is a project by Assotech ( assotechlimited.com ) do u still feel there are such risks involved ?

    Its really great tht u hv warned about this and it will definitely help end users decide with caution but i havent heard of complaints specifically against Assotech limited so its just that it gives me a bit of a relief, though i may be wrong. Had it been Assotech Realty then by no means could an end user like myself have thought of making a fool of himself after reading ur thread.

    Kapil kindly share if you have a different opinion.
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  • Thnx Fatichar bhai for ur instant & valuable suggestion...At the max how much home loan can i expect on a take home salary of 80k per month ?
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  • Rule followed by most banks:

    Max monthly EMI = 0.55 * monthly take home

    So,

    for you

    max EMI = 0.55 * 80 = 44k.

    So for a tenure of 20 years, you can get a loan of around 46L.
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  • Do you have any views what kind of deal can a normay guy (not equipped with resources like you) get from the builders directly?
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  • @RealEGossip

    Buddy though i am not an expert but have been a member of this forum since long. In simple words i guess u have only 2 options when u feel u hv already missed the bus - either try to grab a deal in resale ( depends upon whether resale has been allowed by the builder yet ) or bargain hard with the builder directly...

    In resale generally u might get a gr8 deal coz it wud solely depend upon what price has the seller actually bought it and how much premium he wishes is sufficient enough at the point of sale ( considering he might be in dire need of money or plan to cancel the booking for one or the other reason ).. so even if BSP is 4500, in resale u might be able to surprise urself with a great deal whereas builder might not be able to gv a discount more than 2-4% coz they also hv to keep their BSP move higher & higher & higher... if they gv huge discounts every now n then... their reputation n investors interest comes at stake..

    Fatichar bhai.. kindly correct me if i m wrong...
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  • By the way its interesting that when we miss the bus n try to book something from the so called "only few flats left" by the builder..even if we have to book the only one single flat left in the whole tower we have to pay PLC ( if applicable )..

    Atleast plc to bakhsh deni chahiye yahan... ek to bacha hua maal khareedo oopar se zabardasti ki plc bhi do...it reminds me of a discussion with guys at divyansh pratham..all their flats are corner flats by default..n still they hv a PLC for corner flats :-)

    Bhai jab banaya hi corner pe hai to yaar preferred kya hua...option to hai hi nahi na..
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  • Thanks Kapil.. I'll do that for sure..
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  • You are correct Abhishek but a resale deal requires colored money which I do not have..that leaves me with the other option that you have suggested...

    fatichar bhai, you are a senior member on this forum and I find your posts quite genuine, could you please share your views regarding the kind of discounts that one can get from the builder directly, ofcourse it depends upon the negotiation skills of the individual and the builder situation but a general idea what kind of figure should i have in mind when I go for a deal with the builder...
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  • Originally Posted by RealEGossip
    You are correct Abhishek but a resale deal requires colored money which I do not have..that leaves me with the other option that you have suggested...

    fatichar bhai, you are a senior member on this forum and I find your posts quite genuine, could you please share your views regarding the kind of discounts that one can get from the builder directly, ofcourse it depends upon the negotiation skills of the individual and the builder situation but a general idea what kind of figure should i have in mind when I go for a deal with the builder...

    this totally depends on the project. Each project has a specific range. You visit 2-3 brokers for a project, you will get the idea. Normally 1 to 2% is the scope of negotiation. But my experience is only with projects where I have tried. So this may not be applicable to all projects. Please post in respective threads for better idea.

    Not all sellers want coloured money. e,g, I am selling my flat, and I won;t accept cash in any case.
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  • fatchar bhai, where is your flat, could you please give details and when you are looking to sell it. Though I am looking for a fresh booking but can consider a resale if it happens in white
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  • Its in Sunshine Helios. I may sell it now if I get expected price, else will hold on for 3 years after possession, so that I can save tax. I am confident about the project, hence feel it will realize its true value by that time. But open to sell now at good rate, coz am shifting to Pune after 2 weeks.
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  • could you please pm me more details like no of bedrooms/floor/expected price? And also the mode of transaction, i mean have you paid the builder in full.
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  • PMs are not allowed for you. Can you search magic bricks for 3 BHK in sector 78 at 80L?
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  • do you need special privilege to receive the PM?
    And silly question, how do you check the PMs assuming that i have got the required permissions. does it go into your registered email id (though should have asked this before asking you to pm me)
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