This blog is intended for efficient communication and information sharing of existing as well as prospective buyers of Rohan Jharoka Phase 2. This is by no means intended for marketing or bringing bad reputaion/publicity to Rohan Builders. So please post only genuine concerns and findings. continuation of post started in Harsha Sagar Blog
I guess SBI is ruled out for now due to the JDA, GPA stuff...we may have to probably select from HDFC and LIC...m not too comfortable with CITI...haven't seen a lot of people taking Home loans from them.
Hi Vasantha, ICICI- 10.75 (same as HDFC) Havent yet compared the interest rates with any others as yet. Not spoken to any LIC guy too as yet. But the thought is: ICICI is hassle free, fast and less headache. Also, I am trying to do some jugaad, where the processing fee is reimbursed. Will let you know, if i am successful in that. Thirdly, their pre payment is also pretty easy. In HDFC, you can pay max 25% per year. In ICICI, its 90% I think (will confirm the right figure..more or less accurate.) Are you guys going ahead with LIC? coz I havent done any research on LIC as yet.
I have also booked a flat in Phase 2 of the project..Went with HDFC and the loan was given at 10.75%. It was a very smooth process - just was made to visit the bank only once.
Thanks Venky - Most of us are leaning towards HDFC. Haven't finalized any thing. LIC HFL is on the other side with a rate of 10.4% which is causing some confusion for us. Can you please let me know what is the processing fee they charged? Did they charge some thing called a Legal fee as well? How much was it together.
Nice to know that you are done with the first phase of owning your home. Let us keep in touch and share our thoughts through this.
Chandra, I got to know from the builder that negotiations with SBI is almost in the final stages and very soon SBI should be ready to approve this project.
I have myself opted for HDFC as I ran out of patience with SBI. With regard to the fees I paid 11236 as the processing fee and no other legal fee as such. As Venky as mentioned the process was quick and without hassles.
Saurav, Can you please elaborate your question...As far as i understand lenders who have approved the project will fund for all of the things you have mentioned to a maximum of 80% of the all in cost...is that the answer you are looking for?
Thanks Chandra.That was the answer I was looking for.SBI doesn't fund VAT/ST, so I was asking . Another question how you are making payments for VAT/ST . Is it you are adding with each installment of (UDS and Construction) agreement.
Latest update is that Citibank has rejected funding loans for Rohan Jharokha 2. The reason is because of dual cheque payments, and the payment going to an individual person -Erron Fernandes, and not towards a company.
Guys, Is there anybody who has taken loan from LIC ? My loan is sanctioned but the disbursement is getting delayed and LIC people are saying that the project (RJ-II) is not tagged as approved in there system. If anybody has taken the loan from LIC. Please contact me at avneet_imt_2003@yahoo.co.in / 9986149298 . If I can give any reference of existing loan / agent who has done this before, for the same project, may be it will help.
I guess SBI is ruled out for now due to the JDA, GPA stuff...we may have to probably select from HDFC and LIC...m not too comfortable with CITI...haven't seen a lot of people taking Home loans from them.
ReplyDeleteI approached LIC HFL. They have 2 schemes.
ReplyDelete1. Floating @ 10.40 %
2. Fixed @ 10.70 %
Theor processing charges I wil update after I get the complete details.
I plan to go ahead with ICICI. Any feedback about them?
ReplyDeleteHi Rajat,
ReplyDeleteBased on what you have decided to go with ICICI.
Rates ?
What is their processing fee ?
Hw abt pre-payment charges ?
Vasantha
Hi Vasantha,
ReplyDeleteICICI- 10.75 (same as HDFC)
Havent yet compared the interest rates with any others as yet. Not spoken to any LIC guy too as yet. But the thought is: ICICI is hassle free, fast and less headache.
Also, I am trying to do some jugaad, where the processing fee is reimbursed. Will let you know, if i am successful in that.
Thirdly, their pre payment is also pretty easy. In HDFC, you can pay max 25% per year. In ICICI, its 90% I think (will confirm the right figure..more or less accurate.)
Are you guys going ahead with LIC? coz I havent done any research on LIC as yet.
Rgds
Rajat
Details i got from HDFC -
ReplyDeleteRate of interest Up to 30Lks: 10.50%
floating.
EMI/Lakh in RS
For 10 yrs :1349/-
For 15 yrs :1105/-
For 20 yrs :998/-
For Loan amount more than 30Lks to 75Lk 10.75% floating.
EMI/Lakh in RS
For 10 yrs : 1363/-
For 15 yrs : 1121/-
For 20 yrs : 1015/-
Fixed ROI:
Up to 30Lks:
10.75 fixed for 3yrs
11.25 fixed for 5yrs,
For Loan amount more than 30Lks:
11.25 fixed for 3yrs,
11.50%. fixed for 5yrs
No part payment and full closure charges.
One time processing fee from HDFC:
11236/-(including tax)
Maximum funding is 80% property value, subject to loan eligibility and valuation.
Hi All,
ReplyDeleteI have also booked a flat in Phase 2 of the project..Went with HDFC and the loan was given at 10.75%. It was a very smooth process - just was made to visit the bank only once.
Regards,
Venky
Thanks Venky - Most of us are leaning towards HDFC. Haven't finalized any thing. LIC HFL is on the other side with a rate of 10.4% which is causing some confusion for us. Can you please let me know what is the processing fee they charged? Did they charge some thing called a Legal fee as well? How much was it together.
DeleteNice to know that you are done with the first phase of owning your home. Let us keep in touch and share our thoughts through this.
Cheers!
Chandra
Chandra, I got to know from the builder that negotiations with SBI is almost in the final stages and very soon SBI should be ready to approve this project.
DeleteI have myself opted for HDFC as I ran out of patience with SBI. With regard to the fees I paid 11236 as the processing fee and no other legal fee as such. As Venky as mentioned the process was quick and without hassles.
--Vinay
People,
DeleteAny updates on the SBI approvals?
Coz SBI has reduced the lending rate to 10.5%, which the others havent as yet.
Rgds,
Rajat
What among the following HDFC is not funding ..Basic Cost,Bescom/BWsssb,VAT/ST, Stamp Duty registration
ReplyDeleteOfcourse I am talking about rohan jharoka 2
DeleteSaurav, Can you please elaborate your question...As far as i understand lenders who have approved the project will fund for all of the things you have mentioned to a maximum of 80% of the all in cost...is that the answer you are looking for?
DeleteCheers!
Chandra
Thanks Chandra.That was the answer I was looking for.SBI doesn't fund VAT/ST, so I was asking .
DeleteAnother question how you are making payments for VAT/ST . Is it you are adding with each installment of (UDS and Construction) agreement.
Latest update is that Citibank has rejected funding loans for Rohan Jharokha 2.
ReplyDeleteThe reason is because of dual cheque payments, and the payment going to an individual person -Erron Fernandes, and not towards a company.
Rgds
Guys,
ReplyDeleteIs there anybody who has taken loan from LIC ? My loan is sanctioned but the disbursement is getting delayed and LIC people are saying that the project (RJ-II) is not tagged as approved in there system.
If anybody has taken the loan from LIC. Please contact me at avneet_imt_2003@yahoo.co.in / 9986149298 .
If I can give any reference of existing loan / agent who has done this before, for the same project, may be it will help.
Regards,
Avneet