Hi,

I am planning to purchase a flat in roseicon.in project. SBI refused to give me loan stating that the land doesnt have NA certificate yet. However HDFC is ready to give me home loan. Builder says that he can get NA soon.

Will there be any problem in future if I purchase flat in this project? Advise please.

Thanks.
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  • :), well hdfc !
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  • We, the buyers:):)!
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  • Originally Posted by ypd0001
    Hi,

    I am planning to purchase a flat in roseicon.in project. SBI refused to give me loan stating that the land doesnt have NA certificate yet. However HDFC is ready to give me home loan. Builder says that he can get NA soon.

    Will there be any problem in future if I purchase flat in this project? Advise please.

    Thanks.

    whats so special about this project, that u r ready to take the risk? I think if u can reveal that then some members can provide u a risk-reward ratio for an informed decision!!

    Go check Bhoomi Arista Sales office in Balewadi, which is held up under similar circumstances...bechara the lonely sales man in a huge sales office is also tired now a days of saying "NA will be done in 10-15 days and we will hike the prices by 200 psf :)" -- or is it changed now, last checked sm weeks back!!

    For bank loan, SBI is always preferred!!i think u know the reason now!!
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  • Buying without NA is like buying vehicle without registration papers. If one won't buy a bike without valid docs, I wonder how people book in non-NA projects .
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  • Originally Posted by realacres
    Buying without NA is like buying vehicle without registration papers. If one won't buy a bike without valid docs, I wonder how people book in non-NA projects .


    Atleast if u don't have bike papers u get it dirt cheap and get away by paying Rs 100 to Mamu if caught..sadly it doesn't hold gud for House..
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  • Is this is Rose Icon in Pimple Saudagr by GK builders...
    Originally Posted by ypd0001
    Hi,

    I am planning to purchase a flat in roseicon.in project. SBI refused to give me loan stating that the land doesnt have NA certificate yet. However HDFC is ready to give me home loan. Builder says that he can get NA soon.

    Will there be any problem in future if I purchase flat in this project? Advise please.

    Thanks.
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  • I had enquired abt Rose Icon 15 days ago, there were 2BHK available in M & N wings (most of the flats).

    Today, (in 15 days gap) I was told that there are no garden-facing flats available in M & N. all backside flats are there.

    People are ready to buy here and the speed is such that about 25 flats are booked in 15 days time?

    This means that people are not bothering if the builder has acquired NA or not.
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  • Originally Posted by Trushna


    This means that people are not bothering if the builder has acquired NA or not.

    That is because people may not be even aware of that. one can blame banks(HDFC) for this. People trust banks so much.
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  • I think you should register a complaint against HDFC on the RBI as well as SEBI website - non compliance with the HFC policies, this is the right time to teach the private banks a lesson....but, there is a differnce - in saying - I can give you the loan and giving the loan...if you can get your loan actually approved -- and the builder is without NA, I think we have a strong case and loksatta,IA and RBI will take strong action against HDFC.
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  • Most probably the sales agent from HDFC may have said that you will get loan for this property. (Is it a "Pre-approved" property by HDFC?)
    Chances are he wants you to apply, pay the application charges etc so that you will not go to any other Hsg finance co. Once all the papers are in - they will reject the loan for this specific property.
    Ajoshi
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  • Originally Posted by pcpune
    I think you should register a complaint against HDFC on the RBI as well as SEBI website - non compliance with the HFC policies, this is the right time to teach the private banks a lesson....but, there is a differnce - in saying - I can give you the loan and giving the loan...if you can get your loan actually approved -- and the builder is without NA, I think we have a strong case and loksatta,IA and RBI will take strong action against HDFC.

    Absolutely agree. How come a bank ready to issue home loan without NA.
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  • Yes this is a GK associates project in Pimpale saudagar. Thank you all for advice. I have decided not to buy a flat here. I am in no hurry and dont want to risk a whole lot of amount. I came to know that this builder has another project which got NA approval 4 months after project completion.
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  • Originally Posted by ypd0001
    Yes this is a GK associates project in Pimpale saudagar. Thank you all for advice. I have decided not to buy a flat here. I am in no hurry and dont want to risk a whole lot of amount.

    Good work.
    I came to know that this builder has another project which got NA approval 4 months after project completion.

    Were the PCMC authorities engaged in bhajan-kirtan when project was being constructed?:o In such cases, stay order should have been issued....seems someone in the concerned dept got a flat for free:bab (45):.
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  • It's Raining Discounts In Mumbai's Realty Market
    After the huge hike in property prices in Mumbai, realtors are now offering discounts on properties, at least in the suburbs. Royal Palms is offering 1BHK (bedroom-hall-kitchen) of 526 sq ft; 2 BHK (815 sq ft) and 3 BHK (1,082 sq ft) at Rs4,930 per sq ft for its two new towers - Crystal and Diamond Island, both based at Goregaon, a western Mumbai suburb. Previously, these properties at Royal Palms were available at Rs5,300 per sq ft. Earlier, it was reported that Orchid Woods, a residential project by DB Realty, was offering customers through ICICI Home Search, (a division of ICICI Home Finance Company) flats ranging from 2 BHK (1,420 sq ft); 2.5 BHK (1,635 sq ft); 3 BHK (1,820 sq ft) and 4 BHK (2,465 sq ft) at Rs9,500 per sq ft (plus Rs45 per sq ft for floor rise). The apartments in Orchid Woods were priced earlier at Rs10,881 per sq ft. "Property prices have started showing correction as sales are not happening. After the first quarter of the current fiscal, property sales are down by around 15% in Mumbai. End-users have disappeared from the market," said Mr Pankaj Kapoor, founder, Liases Foras, a real-estate research agency.
    22 July 2010 moneylife.in
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  • Originally Posted by s12345
    It's Raining Discounts In Mumbai's Realty Market
    After the huge hike in property prices in Mumbai, realtors are now offering discounts on properties, at least in the suburbs. Royal Palms is offering 1BHK (bedroom-hall-kitchen) of 526 sq ft; 2 BHK (815 sq ft) and 3 BHK (1,082 sq ft) at Rs4,930 per sq ft for its two new towers - Crystal and Diamond Island, both based at Goregaon, a western Mumbai suburb. Previously, these properties at Royal Palms were available at Rs5,300 per sq ft. Earlier, it was reported that Orchid Woods, a residential project by DB Realty, was offering customers through ICICI Home Search, (a division of ICICI Home Finance Company) flats ranging from 2 BHK (1,420 sq ft); 2.5 BHK (1,635 sq ft); 3 BHK (1,820 sq ft) and 4 BHK (2,465 sq ft) at Rs9,500 per sq ft (plus Rs45 per sq ft for floor rise). The apartments in Orchid Woods were priced earlier at Rs10,881 per sq ft. "Property prices have started showing correction as sales are not happening. After the first quarter of the current fiscal, property sales are down by around 15% in Mumbai. End-users have disappeared from the market," said Mr Pankaj Kapoor, founder, Liases Foras, a real-estate research agency.
    22 July 2010 moneylife.in

    :bab (34):
    Seem this s12345 is a GK chap...why is he posting same info on almost all GK threads...how is GK connection with mumbai?:bab (38):
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