PDC - post dated cheque - is the solution for making home buying easy!
|Visit upcoming 115 acre Township near Bavdhan, Kothrud annex , Pune , India|
"PDC is as good as cash! A Flat against PDC - PDC De Do, Flat Le Lo!!
Our research has told us that, today, not being able to save 20 percent own contribution is preventing homebuyers from booking flats. Particularly, young first time home buyers working in Hinjewadi.
If someone, manages own contribution - he finds it difficult to pay 50 - 55 per cent of his monthly income as an EMI. Because, the cost of living has gone up.
Result is - home loan offers like - 5 + 85 + 10 & 10 + 80 + 10 are not helping young property buyers to become homeowners in Pune real estate market.
To make home buying easily possible - we have come up with an innovative home buying solution. A flat against PDC - Post Dated Cheque. PDC De Do, Flat Le Lo!
Addressing the press conference, exclusively arranged (only) for Ravi Karandeekar, the (unidentified) representative of the developer of upcoming 115 acre township near Bavdhan said.
Explaining "A Flat against PDC - PDC De Do, Flat Le Lo!" offer, the unidentified representative of the builder said - A flat buyer will give us 20 percent own contribution by PDC - Post Dated Cheque. A flat buyer can put any convenient date on the PDC - between February 2015 and December 2025. The flat agreement will be registered in 30 days from the booking.
After the registration of agreement - the flat buyer can get 80 percent home loan from the housing finance company. The flat buyer is free to chose the tenure - home loan repayment period - from 15 - 20 - 25 -30 years - as he prefers.
The flat buyer also has a choice to choose the suitable type of home loan repayment option - 1) Normal Pre-EMI + EMI 2) Full EMI from the 1st Disbursement 3) No EMI till Possession - Advance Disbursement Facility.
"PDC will help the buyer to book. But, what are you doing to help him pay the EMI?," asked Ravi Karandeekar.
"I am coming to that! Please, don't disturb me. Listen - like other press reporters!," the representative of upcoming 115 acre township near Bavdhan said.
"I am Pune real estate blogger - not a press reporter! By the way - no reporter - only me & you are here!," Ravi Karandeekar said.
"Let me correct you - am on the phone - you are one & only attending this press conference," the representative of upcoming 115 acre township near Bavdhan said.
"Whatever! I work online - on the web. Go ahead & tell me - what are you going to do about EMI?," asked Ravi Karandeekar.
"Instead of current 10.15 percent home loan interest rate - the flat buyer will have to pay only 5 per cent interest rate - means, only half EMI - for the entire tenure!," the representative of upcoming 115 acre township near Bavdhan said.
"And what if the rates come down?," asked Ravi Karandeekar.
"We will bear half of the prevailing rate of interest! If the rate comes down to 9 percent - we will bear 4.5! Since the flat buyer is paying only at the rate of 4.5 percent - his EMI - would be always half - than any flat in any other scheme in Pune real estate market!," the representative of upcoming 115 acre township near Bavdhan said.
"Something like Panchshil did recently!," said Ravi Karandeekar.
"Nearly! The small difference is we will pay PDC to the flat buyer," the representative of upcoming 115 acre township near Bavdhan said.
"PDC doesn't make any sense. Since it's PDC the flat buyer has to pay full EMI for the entire loan tenure - you are not reducing the burden of EMI - like LPG subsidy - you should deposit cash in the flat buyer's account," said Ravi Karandeekar.
"If the flat buyer's PDC is as good as cash - then why should not our PDC be considered as good as cash?," asked the representative of upcoming 115 acre township near Bavdhan.
"As good as cash - when would your PDC become 'payable on demand'? When can the flat buyer encash your cheques?," asked Ravi Karandeekar.
"From the month flat buyer repays the entire home loan - it means that, we are encouraging early repayment of home loans - we are not creating subprime crisis - we are strengthening Indian economy," the representative of upcoming 115 acre township near Bavdhan said.
"Instead of that why don't you reduce the property prices?," asked Ravi Karandeekar.
"Banks rule real estate market - property prices going down is not good for the banking industry & national economy - builders are helpless. But, we are doing our best - by sharing half interest and giving PDC we are paying back to the society," the representative of upcoming 115 acre township near Bavdhan said.
"You are fighting for your survival! Over supply - lack of infrastructure - criminal conspiracy of violation of environmental clearance - property buyers distrust - exorbitant prices - low demand - has challenged you - instead of resolving these issues - you are joining hands with the banks to force the flat buyers to become your slaves - for life. Your PDC - will make sure that - the flat buyers will never use their brains while booking flats and will never complain - go to consumer court - against deficiency in your service," said Ravi Karandeekar.
"Don't you know that - you can't gain anything without losing something?," the representative of upcoming 115 acre township near Bavdhan said.
"You will get a few dumb property buyers who believe in your philosophy - but - for sure - not all!," said Ravi Karandeekar.
"Let us see! Thanks for your time. My man will take care of you," the representative of upcoming 115 acre township near Bavdhan said.
The man blindfolded Ravi Karandeekar. Dropped him back at the same place - where he had collected him - half hour ago - on Paud Road.
Because of the blindfold, Ravi Karandeekar didn't know the exact location of 115 acre township. However, as usual, while going to the site, he has taken a few photographs. Have a look. If theses photos convinced you that this press conference really happened, don't blame Ravi Karandeekar.
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