Grand Edifice

Frequently Asked Questions

1. Which all bank are going to fund the loans for the project? Ans: UTI, SBI, Citibank, Corporation Bank, ING Vysya Bank, Canara Bank, ICICI Bank has approved the project. Further if there are any customers who want to go with a particular bank we shall get the project approved by the bank.
2. Who owns the land for this site? How will you assure your customer that there is no dispute on this land? Ans: We are the absolute owners of the site. The sale deed and all the necessary documents are with us. It can be given to your lawyer for their expert opinion. We have taken all the necessary precautions to make sure that the land is free from any litigation or any disputes. We have checked the records and have taken the necessary documents from the competent authorities.
3. How will you assure your customer that the construction and the approved plan match? Ans: We will sale only what is approved. There would be penthouses which would have attached terraces. Any customer may inspect the approved plan and accordingly take up the flat. The necessary setbacks will be maintained from day one. We have no intention of doing any kind of violations.
4. Some months back there were some issues with new land registrations in Bangalore. Have we taken care that we do not hit the issues encountered in those cases. Ans: Definitely. We have a clear title and the zoning regulation has been taken care of. We do not fall under the green belt or the agricultural zone. The reason why our property is a little away is because we skipped the green belt area. WE have got the necessary documents for the same.
5. In case there are some problems during registrations (As some of our friends have faced) will you give us all the support we will need for this? Ans: Definitely. We will make sure that the registration happens. As I see it, that's part of the deal. Whatever service charges needs to be paid at the registrar's office can be negotiated directly (by the customer) or through us collectively.
6. I understand that we have plans for rain-water harvesting for this project but will we have more back up plans for the water storage? Ans: We will provide a storage capacity which would be twice the consumption per day. There would be bore well done to take care of the water requirement. Rainwater is the added amenity which we intend to provide. The monetary benefit is that the residents would get exemption on the property tax (Year on Year).
7. Who will take over the maintenance of the complex after it is built. Will that team be a totally new team or will it be related to the builder's company? Ans: We would take care for the first year. All the people who built it would be responsible. After the first year the maintenance would be handed over to the owners association.
8. How many floors and blocks are going to be there? Ans: There are in total 5 blocks. Structure is Basement, Ground plus 5 Floors. Each block would have 4 flats on every floor. There are flats on the Ground, First and third which would have independent terraces. The fifth floor is the penthouse.
9. Availability? Ans: Please indicate your floor as well as room preference and I would get back to you with the availability. Please also indicate whether you want a private terrace with your apartment or not.
10. Do you have a website? Ans: Yes. The link is www.edificebuilders.com
11. What are the previous Projects completed by us? Ans: We recently completed a residential apartment in sanjaynagar. It was a 21000 sqft building. Besides these our group has executed infrastructure project. In Bangalore we have also built villa and club house. The villa was a 6000 sqft ultra modern house. The clubhouse was done for a company. One of our directors has had corporate exposure and training at Infosys India.
12. What is the delivery time and what is the assurance for the same? Ans: Regarding the completion of the project we are having a team of people who have executed in excess of 10 Lac sqft of residential space and coupled that with our planning and focus we would be able to complete it on time. We had initially set a delivery time of July 2008, which has now been revised to April 2008. The work progress at the site is very good and way ahead of our schedule.
13. Why the price is so competitive and almost unbelievable? Ans: The land rates were cheap and so we are able to offer this price. No compromise on quality whatsoever. We are committed on delivering what we promise.
14. What is the commute time between our residence and Electronics City campus? Ans: From Electronic city the residence would be around 30-35 km. There is a peripheral road which can be taken. There is no doubt its far from electronic city but the location is ideal as it falls on the way to the new airport. There is a railway station (Whitefield Station) 5 minutes from the site. ITPL is 10 -15 minutes from the site.
15. Have the plans been sanctioned? If yes by whom? Ans: We have received the sanction from BMRDA as the property is under their jurisdiction.
16. What is the booking amount and subsequent payments? Ans: The booking amount is Rs.50,000/-. It needs to be paid by cheque on account to 'Edifice Builders'. Within the next 15 days and upon signing of the contract 25% of the total amount needs to be paid. The balance would be payable as per the stage of construction.
17. What are the other terms and conditions? Ans: All terms and conditions are going to be indicated in the Agreements.
18. How good is the project for investment purpose? Ans: For investment purpose one needs to move away from the city. Today no where in Bangalore you will get such a luxurious project at this price point. To get a 350/- rupee appreciation on this price would mean a growth of 30% whereas the same appreciation on a 2000/- rupee project would mean 15%. So that's how one needs to look at it. Further the rental aspect also becomes attractive as in the same budget one would be able to buy a 3 BHK. We are building a luxurious project and are very confident that we would be selling our last 30 flats at 2250/-.
19. The 50,000/- rupees which is paid, is it refundable? Ans: Yes but only within one week.
20. What would be penalty on the builder if he doesn't complete the project on time? Ans: Subject to conditions we would pay the clients Rs. 1.00/- per Sqft per month for the delay.
21. What measures are being taken to ensure water control and self sufficiency? Ans: We are going to have bore wells, rain water harvesting, water recycling and waste management. Further we would be undertaking water management to ensure no flooding of the complex. Infact we are going to ensure that both extremes i.e. no water or flooding is avoided at all costs. Right now no projects in Whitefield has either the Sanitary or the Cauvery connection.
22. How accessible are you as a builder? We are sitting far away from the location and won't have time to visit or track the progress of the site? Ans: We send monthly progress status along with current snaps of the site to all our clients. Further any customer emails are replied back within 4 working hours. We the builders directly interact with the customers. Almost all the communication is done effortlessly by emails.
23. How is the progress of the site? Ans: We are way ahead of our schedule and the project would be handed over 4months before time. We had initially given a delivery time of July 2008 which has been revised to April 2008.
24. Who are the people who have already purchased a home with you? Ans: Most of the people are in the age group of 25 - 35. They are from various fields but predominately connected with the IT industry. We are a very privileged lot as our clients are very happy. We conducted a satisfaction survey and there were absolutely no issues which our clients had. On the various parameters we were judged excellent and almost close to perfect. We intend to raise the bar further as we go forward.