Dont know about Ajnara.. but its general practise being followed by alsmost every bank.. that when builder start construction work they send detailed project report to banks .. banks representatives visit the site and approves the project. After then one can get the home loan for that project. However some banks also take risk and start approving the home loan .
for example i have been told that PNB housing finance is financing right now for livia for other banks i hv to wait till they start excavation and other banks approve their project
further Livia comes under Greater noida development authority not under YEIDA
Any Update on the "No Escalation" clause in the BBA. Has anyone got it changed in the BBA?
I went to Shubhkamna office and requested to include this clause in BBA. They simply denied. Then I said thet in such a case I will not be able to invest in any shubhkamna project and want the refund of money. After discussing it with senior management, they agreed to include in allotmentment letter. They have agreed to give me updated allotment letter with "No Escalation" clause. After getting this updated allotment letter only I will sign the BBA.
You may not agree with me but BBA says Payment sechdule will be as per attached allowtment letter. Allotment letter has Price Defined as per your Purchase rate.
what is question of increasing or decreasing price if you say you are selling at X rate.
as per my openion Esclanation clause should be there in BBA..
Otherwise they may give a new allottment letter with increased price stating that price has been revised and now u hv to pay as per the revised price..
we all should aproach to builder to include the esclanation clause in the BBA.