The dumb first time home buyer in Pune always lives happily ever after:
|A Visit to Pristine Equilife in Mahalunge Gram Panchayat|
On the day of launch - 18th March 2017 - I visited Pristine Equilife next to Saarrthi Skybay behind Balewadi Stadium in Mahalunge Gram Panchayat.
In less than 5 minutes, I collected the property price list & brochure. I came out of the site sales office. I started walking towards the main gate. Admiring myself for not wasting my precious time. But I let myself down. I did something I would have never done in my life. I stopped at the counter of SBI.
I know nothing. I am new. My senior has gone out. The guy at the SBI counter said.
"Good for you! Ravi Karandeekar, get out of here," I told myself and started walking.
"Hello! Can you spare a few minutes? I can make your dream come true," giving me his business card, a smart young man said.
"The builder has already done that," accepting his business card, I said.
"How can the builder do it without me? Don't you need money to buy his flat?," the smart young man said.
"Yes, of course! How can I buy a flat without a home loan!," I realized that he was assuming that I was the flat buyer. I accepted his important role in realizing my dream. I followed him to his table.
"Looking for investment property or a home for your son in USA," the smart home loan salesman asked.
"Investment property! No. I haven't invested in a property. This is for my son in USA," I said.
"Invest in this. Today rate is 4800. By the time of possession it will be 6500," the smart home loan salesman said.
"But the salesman didn't say anything about property price appreciation," I said.
"That's why I am here! Did he tell you anything about price negotiations & discounts?," the smart home loan salesman asked.
"Yes. He said that the property rates are fixed - not negotiable," I confessed.
"They say so - because you don't know how to negotiate. I will tell you how to get a discounted rate," grabbing my brochure & property price list, the smart home loan salesman said.
"I am also curious to know how much they can reduce the rates," sitting on the chair next to the smart home loan salesman, a young man said. His wife sat next to me. She was wearing sexy perfume.
"Both of you are working in Hinjewadi?," shaking his hand, the smart home loan salesman asked.
"Yes! Tech Mahindra," said the wife.
"Tech Mahindra is a beautiful company," I said.
"Have you booked?," the young man asked me.
"Yes. Almost. Going to finalize after this. Right price & good neighbours. What more do you want?," I said.
"He is looking for his son in USA," the smart home loan salesman said.
"But if you give me a good deal - I can invest in one for myself too," I said this and decided to shave off my white mustache & color my hair black before going home.
"I am here to give a good deal to you! First - give me your mobile numbers. I will send you a list of documents. Keep those documents ready. I will collect them tomorrow evening. Within 2 days I will sanction your home loan and give you the letter. Show my loan sanction letter to the sales executive of this project. Tell him - if you don't give me a good rate - I will go to these 4 projects in Mahalunge & Sus. Which projects? Don't worry. I will give you a list. You know what? Because of my loan sanction letter no salesman in any project can refuse to give you a big discount. This is the right way to negotiate the property price. Most of the buyers don't know this secret. That's why they fail to get discounted rates. But you will get. Promise!," the smart home loan salesman said.
"But what rate can I get?," the young man asked.
"I will tell you. Look around. How many buyers are here? Not more than 15. Considering the advertising - newspaper ads & hoardings - there should be minimum 150 people. But you can see only 15. Why? Market is slow. Right?," the smart home loan salesman said.
"There are more than 15," said the beautiful wife.
"Nowadays - on the day of project launch - event organizers not only supply hostesses to attend the enquiries - but - they supply dummy enquires too - good opportunity to earn extra bucks - for the young IT couples who are in relationships - my experienced eyes can identify these dummy enquiries - you can't - you think that these are real flat buyers who are booking flats without negotiating the rates - you become anxious and fill the booking form & give a cheque of a booking amount. I saw that anxiety in your eyes and approached you. I said to myself you deserve to get a fair deal. Right?," the smart home loan salesman said.
"True! I had become very anxious to see so many enquiries. For the time being, I was convinced that 4800 must be very attractive property rate. Thanks for saving me!," I confessed.
"But you didn't approach us - we came to you," the beautiful wife said.
"Tell me - with your loan sanction letter - how much discount can I expect?," the young man asked.
"How about 3800?," looking in the eyes of young man's beautiful wife - the smart home loan salesman asked.
Obviously, I also locked my eyes in hers.
"1,000 rupees discount! Is it really possible?," I heard young man's voice.
But neither the smart home loan salesman nor I bothered to respond. We were drowning in the eyes of his beautiful wife.
"That would be dope!," blinking her eyes the beautiful wife said.
"This is beyond my expectations! Is it really possible to get 1000 rupees discount?," the young man asked again.
"Because of my loan sanction letter no salesman can say no to you! If not here - I will get it for you in some other project of your choice in Mahalunge - Sus - Maan. But that's not all!," the smart home loan salesman said.
"I am game. What more do you have?," leaning on the table, the beautiful wife asked.
"100% loan! You have to pay only Stamp Duty & registration charges to the builder - means approx 2.4 / 2.6 L + 30K - less than 3 lakhs for a 2 BHK Flat & around 4 for a 3 BHK - it would be considered as your own contribution to the builder. Thought it will go to government as a Stamp Duty & Registration Charges! I will give you a loan for the rest - Agreement Value + Service Tax + VAT!!," the smart home loan salesman said.
"Means we have to pay only 3 - 4 lakhs from our pocket?," the young man asked.
"You will give 100% of agreement value + service tax + vat to us. Promise?," grabbing the hand of smart home loan salesman, the beautiful wife said.
"How can you give 100% loan? Yours is a nationalized bank. Isn't it against the rules of RBI?," I said.
"We have given 12 CR construction finance to this project. That's why we can offer an exclusive finance scheme," firmly holding the hand of the beautiful wife - the smart home loan salesman said.
"But your bank's name is not on this property price list. Look at this - 8) Project approved by HDFC, ICICI, Axis Bank & SBI. Your bank's name is not here. Neither there is a board at the site which declares that your bank has given project finance to this project," I said.
"Why would I claim if my bank hasn't financed?," looking in the eyes of beautiful wife - the smart home loan salesman said.
"Where is my promise?," putting the other hand on the smart home loan salesman's hand, the beautiful wife asked.
"I will promise about 100% loan only after looking at your papers. At this point - I can only promise about giving 87% of Agreement Value + Service Tax + VAT. However, actually - 87% of Agreement Value + Service Tax + VAT is equal to 100% of Agreement Value! You got what I mean?," the smart home loan salesman said.
"Will you please repeat? If you give only 87% - when am I supposed to pay those 13%?," keeping his hand on the shoulder of his beautiful wife - the young man said.
"I will explain it in detail when I will give you your loan sanction letter. At this point of time - you only remember 4 things. 1) Give me your papers and get the loan sanction letter from me. 2) You will get a huge discount on property price. 3) Your own contribution would be only around 3 lakhs - Stamp Duty + Registration 4) Rest of the money will come from my bank. Belive in me. I am here to make your dream come true," the smart home loan salesman said.
"I find it difficult to believe. Yours is a nationalized bank," I said.
"We have a subsidiary. The subsidiary can do many things which a nationalized bank can't. Talk to your son - he will understand," in an irritated voice - the smart home loan salesman said.
"What more can you do for me?," asked the beautiful wife.
"Possession is after 3 years. If you can not manage 13% - after a few months - I can give you top up loan to pay it. If you managed to collect it - I will give you top up loan - you can use that money to do whatever you want to do - decorate your flat, buy a new fridge - TV - car - whatever. Happy?," the smart home loan salesman said.
"At what rate?," I asked.
"Home loan at only 8.5% - 30 years repayment tenure," the smart home loan salesman said.
"And for the top up?," I asked.
"We will talk about it at the right time," the smart home loan salesman said.
"What would be ratio of EMI & monthly income? 50%?," the young man asked.
"You are working in one of the best - A grade - company. I will give you more than you are eligible for! Your EMI would be around 70% of your monthly income," the smart home loan salesman said.
"That would be dope. Isn't it baby?," the beautiful wife said to young man.
"Get a cheap home loan from me & live happily ever after," the smart home loan salesman said.
"Only a dumb can live happily ever after!!," I said to myself.
What say you?
Please, share your views in the comments.
1) A Visit to Mahalunge Hinjewadi Bridge
2) Sad story of a son who purchased a flat in Sus
3) What if Hinjewadi IT Engineers were a little less stupid?
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