We have put a lot of sweat and hard earned money towards constructing our new house, hope we stay there long enough and enjoy our stay as well. It has taken us 2 years to reach this point. I have to write down what I remember.
SITE
I remember the first time when Arun told me about site 601. There were 2 sites for sale, one was priced close to 4000 per sqft and another site for 3700, the second site was a dead end site, I was ok with the dead end site. Arun agreed look at the second site itself since it was priced slightly less. This was site 601.
One fine Sunday when Dad was visiting us , me Arun and Dad went to see the site. We spoke to the broker, offered him 50rs per sqft if the price was brought down to 3500. That worked, thanks to Dad for that Idea :). Then the process of talking to the owner over phone and securing money for advance started. Since the owner was based in UK much of the conversation happened over email of phone. He agreed to visit us in a couple of weeks. We pulled out some of our short term investments and arranged cash, we parallelly checked with banks for processing our application. LIC HFL agreed to finance the plot purchase and construction. The owner on arrival threw in a surprise asking 2L more for the site. After tense 2 days and some negotiations we finally signed the agreement.
The site was bought in May , with some help from relatives. We saves a bit on bribe payment thanks to Subregistor we knew. Finally we were owners of the site. 4 co-owners for a 1620 sqft site. Price of the site + Registration cost + Brokerage cost us 6 Million Rs :).
A day later we get a call from the previous owner that the agreement is wrong, we have added a 0 to the sale amount. This meant all 4 of us spending a day at the Subregistor office for the correction.
SITE
I remember the first time when Arun told me about site 601. There were 2 sites for sale, one was priced close to 4000 per sqft and another site for 3700, the second site was a dead end site, I was ok with the dead end site. Arun agreed look at the second site itself since it was priced slightly less. This was site 601.
One fine Sunday when Dad was visiting us , me Arun and Dad went to see the site. We spoke to the broker, offered him 50rs per sqft if the price was brought down to 3500. That worked, thanks to Dad for that Idea :). Then the process of talking to the owner over phone and securing money for advance started. Since the owner was based in UK much of the conversation happened over email of phone. He agreed to visit us in a couple of weeks. We pulled out some of our short term investments and arranged cash, we parallelly checked with banks for processing our application. LIC HFL agreed to finance the plot purchase and construction. The owner on arrival threw in a surprise asking 2L more for the site. After tense 2 days and some negotiations we finally signed the agreement.
The site was bought in May , with some help from relatives. We saves a bit on bribe payment thanks to Subregistor we knew. Finally we were owners of the site. 4 co-owners for a 1620 sqft site. Price of the site + Registration cost + Brokerage cost us 6 Million Rs :).
A day later we get a call from the previous owner that the agreement is wrong, we have added a 0 to the sale amount. This meant all 4 of us spending a day at the Subregistor office for the correction.
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