Has anybody booked or planning to book in Logix Blossom County? I want to know the following:

1) How is the location of the project? It seems a bit far from expressway - towards greater Noida side but is it still good compared to 3C and Jaypee?
2) How is the layout of the apartment? In terms of loading.
3) Is it a green project
4) Possession time quoted is 18 months. Does anybody have confirmation on this?
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  • Are you sure this clause is ther in BBA. As if feasible, Can you please join Yahoo or Facebook group to discuss the same with all concerned?
    I don't remember this clause it there in BBA. I will verify my BBA ...

    Originally Posted by ashton
    Let me remind all guys that as per BBA the penalty will not be automatically paid by them. we have to send them a demand notice for it and it is applicable from the date we demand it.
    ANY COMMENTS GUYS?
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  • logix blossom county

    hi, anybody bought additional car park recently at county? pls detail out the process. thanks.
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  • Hi is there anybody who is booked the unit in LBC under Balance on Possession plan and got disbursement from the bank. If yes what is the policy that banks are following for doing the disbursement.

    I am facing a lot of issues from the banks regarding disbursement under the Balance on Possession. Now thinking of getting the payment plan changed to CLP ..any views..
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  • Right Price to buy in resale

    Hi,

    Request senior members to please let me know what is the right price to buy in resale now. I am getting 3700 per sft (BSP) for a 1675 unit in 2nd floor. Park facing unit
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  • Originally Posted by amitsoni
    Hi,

    Request senior members to please let me know what is the right price to buy in resale now. I am getting 3700 per sft (BSP) for a 1675 unit in 2nd floor. Park facing unit

    seems good option
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  • Originally Posted by GS0123
    Hi is there anybody who is booked the unit in LBC under Balance on Possession plan and got disbursement from the bank. If yes what is the policy that banks are following for doing the disbursement.

    I am facing a lot of issues from the banks regarding disbursement under the Balance on Possession. Now thinking of getting the payment plan changed to CLP ..any views..


    Not sure what policy you intend to enquire about. But yes, I and a friend of mine got disbursements from Axis Bank a couple of weeks ago under BOP Plan. There were challenges for sure, and it took 1+ month from the date of application to disbursement. We were dissuaded by Logix from going ahead with Axis but we still preferred it because of zero foreclosure charges since I anyway intend to close the loan in another 3 months' time.

    One reason of delay was the fact that BOP plan wasn't approved by Axis Bank. For that matter, other than Bank of Baroda, none of the banks were even accepting loan applications for units purchased under BOP Plan. So much so that even Axis Bank's Noida branch refused. Luckily, the GZB branch's sales manager was more confident of obtaining an approval for the BOP plan on the basis of our applications.

    Though I had to repeatedly chase the DSA, Bank and their credit office in Noida. All followups were done on only since I stay in Gurgaon and branch was in GZB, whle DSA and Credit office were in Noida.

    Feel free to post your specific questions and I would be glad to assist you in any form/manner.
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  • Last BSP was 3530 before closing the booking by Logix.

    Also check the Tower status, Some tower are at 18th Floors while some are 4-5 floors only ..

    I believe this is at higher side as of now .. But can't say at what proce Logix will reopen the booking ... that could impact much the BSP and may create a hype like 3C ..

    You may consider Jaypee projects such as Kosmos if early possession is not required. I read at 3100 resale is happening in Kosmos. I believe Logix would also try to create the same hype as 3C. Hence if Kosmos is available at 3100 then it does not make sense to go for LBC or 3C LB/LP for higher price.

    Jaypee have increased the const speed after F1 and probably would speed up more after YEW opening in Mar 12. You may also feel it by increased activity on Jaypee related threads ...
    Originally Posted by amitsoni
    Hi,

    Request senior members to please let me know what is the right price to buy in resale now. I am getting 3700 per sft (BSP) for a 1675 unit in 2nd floor. Park facing unit
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  • Resale Do's Don'ts

    Request senior members to please let me know the following in context of buying a flat in resale

    1. How much to pay the token amount? What proof i can keep for the token amount?

    2. What documents to check regarding the concerned property?

    3. When to pay the premium (cash) and what needs to be done for the property to be properly transferred

    Any other things i keep in mind regarding resale?

    Thanks in advance
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  • Any body interested in resale in Logix

    Please send me a PM.

    Thanks,
    Nikhil
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  • Although, I have not been involved in resale but following are experiences from my relatives/friends:

    Resale : A tricky stuff....

    Is this your 1st property? Or u have experience in dealing with property earlier as well.

    During resale:
    1) Make sure that you have verified the property details
    - Dues to builder from seller
    - Rate at which property was registered
    - Transfer charges
    - Service tax paid or not paid
    Many investors usually do not pay the installment on time and hence are candidate for defaults and additional interest 10% to 18% as per BBA. So before signing / paying deal, make sure that you have taken NOC from builder. A genuine seller should be more than happy to share this information
    .

    2) Involvement of a broker whom you can trust.
    If you are dealing through a broker then establish a trust relationship with him. This will help you in getting things done from broker.

    3) Get in touch with a lawyer as well to guide you on double agreements to be made. (usually in such deals two agreements are made. One without color and one with color.)

    4) Explore if builder can take color part. Hence get things transfered in your name and then let the seller deal with builder. Builder do accommodate such cases but u have to build rapport with them.

    5) Credentials of the guy selling the property. His residential, background, PAN card etc...

    Now to your questions:
    1) How much token amt: As min as possible. However any broker will be adamant on 10%. Make sure that you pay the least amount. This initial amount should be paid by cheque (a/c) and in the name of seller with his bank account number. Get in writing from him for receipt of the amount. If dealing through a broker, then he would have standard receipts.

    2) Documents: mentioned above. Make sure that there is no loan taken by the seller. Else it will involve another level of complexity and the seller will be after you to get the loan cleared or the loan will be transfered to you.

    Get the details from builder on overall due by seller.

    3) Premium is expected before transfer formalities. Before paying premium make sure that the property details are verified and transfer is just a matter of few minutes job.

    Most important, never indulge into arguments and make sure keeping a cool head.... :)



    Originally Posted by amitsoni
    Request senior members to please let me know the following in context of buying a flat in resale

    1. How much to pay the token amount? What proof i can keep for the token amount?

    2. What documents to check regarding the concerned property?

    3. When to pay the premium (cash) and what needs to be done for the property to be properly transferred

    Any other things i keep in mind regarding resale?

    Thanks in advance
    CommentQuote
  • Resale

    Thanks Dhinchick for your reply. It is a good comprehensive list of Do's and dont's.

    Anyways, i am not sure how the market is going to turn out in a few days. Yesterday i went to see the site and myself was told by a broker that yesterday itself a unit(1675 sft) on 12th floor front side on the outer circle was sold for Rs 3250 per sft.

    I am thinking to wait for sometime and see how the current economic scenario turns out. My calculation is that even if after 2 years if the per sft rate all inclusive is 5000 (Optimistic estimate) then also if i buy i would shell out approx 17 lakh more for the flat. And considering the cost of flat today, the amount 65 lakhs at Rs 3500 per sft which i will have to pay now will attract interest of approx 14 lakh in two years at 11% rate of interest. Thus it makes better sense to wait for 2 years and then see the actual progress and buy a preferred unit which investors would be looking to exit. In the worst case if the price appreciates to Rs 5000 i would be at a loss of just 2-3 lakhs but i would be able to take a better decision as the project would be significantly complete.

    However, if i can get a better deal approximately the price i was told yesterday it would be a good candidate to buy.

    I also heard that at Rs 3200 per sft around 3 months back Logix had a lot of inventory and it only got cleared when they introduced the 30:70 plan, which was in fact a very good plan. So if logix was not able to sell inventory at 3200 then how can the scenario change in 3 months that they are thinking of quoting 4500 for new towers to be launched.

    I guess it is just meant to create a rush so that seeing so many people book in logix in last 3 months others also think of booking and get the flats booked at whatever rates the builder is asking otherwise the rates will increase.

    It's really pity how helpless we as buyers are against the builders gimmicks

    This is just my POV. Others may differ.
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  • Hi Leo sri, well as u have got the disbursement done under BOP (30:70) plan from Axis Bank..what is the pro-rata that Axis bank is applied for doing the payment under BOP Plan...
    Loan sanction Your Contribution
    >75% ....
    55 - 74% ....
    <55% ...

    Has Axis bank followed any such criteria while making disbursal after you have done your part contribution. This is the kind of policy that banks follow in normal plans ..CLP or Flexi. Has Axis Bank followed similar kind of calculation while they made disbursal under the BOP (30:70) Plan..Also which tower is your flat booked in..
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  • Originally Posted by amitsoni
    Thanks Dhinchick for your reply. It is a good comprehensive list of Do's and dont's.



    I am thinking to wait for sometime and see how the current economic scenario turns out. My calculation is that even if after 2 years if the per sft rate all inclusive is 5000 (Optimistic estimate) then also if i buy i would shell out approx 17 lakh more for the flat. And considering the cost of flat today, the amount 65 lakhs at Rs 3500 per sft which i will have to pay now will attract interest of approx 14 lakh in two years at 11% rate of interest.


    This calculation is correct only when one has 65L available in cash and can some how avoid to pay tax on FD earning.
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  • Originally Posted by GS0123
    Hi Leo sri, well as u have got the disbursement done under BOP (30:70) plan from Axis Bank..what is the pro-rata that Axis bank is applied for doing the payment under BOP Plan...
    Loan sanction Your Contribution
    >75% ....
    55 - 74% ....
    <55% ...

    Has Axis bank followed any such criteria while making disbursal after you have done your part contribution. This is the kind of policy that banks follow in normal plans ..CLP or Flexi. Has Axis Bank followed similar kind of calculation while they made disbursal under the BOP (30:70) Plan..Also which tower is your flat booked in..


    Hi GS, the proportion was supposed to be approx 75(bank's share)-25(my share) but I did not adhere to this as part of first demand.

    I am in Tower-A, how about you?
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  • Friends, I need inputs on how much of KVA Power backup to go for.

    Requirement would be to run a maximum of 3 ACs of 1.5 Ton each with refrigerator, washing machine and about 10 40-60W CFLs.

    Please share from your experience. Thanks!
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