Finally Started my construction a Duplex 30X50 site in EC...

[m_d1982]

Thankyou, mudude12

@Rajesh - I am currently in your shoes. The bank has approved 2.5L, Not sure when the inspection was done... I guess i need to do the same trick to get higher amount.

@ Ramki - When i initally approached the Bescom office they asked me to come via an authorised Electrical Engineer. Luckily since my site is in a gate community the person incharge there knew some EE. He asked me a photo, Latest Tax paid receipt to get the connection. It was done the very next day
BWSS is NA, As my site comes under Panchayat water is supplied by the association.

[krishnakumar]

Is the story same with all nationalised and private banks? Any idea?

[bhagatam]

Hi

Could you please let us know whether banks provide full Disbursement or is there any conditions for full disbursement instead of Partial disbursements.

[m_d1982]

hi,
In my case Axis bank clearly said they will do only partial disbursements in 4 installments based on the construction progress. I am still awaiting my first disbursement.

Probably others can comment on their experience.

[vijaykumarthapa]

Hi M,
Even my case SBI advised that they will pay 20% of my loan amount for every disbursement. First disbursement was paid in advance. Post that i have used my source of funding. Need to approach them for 2nd disbursement after i am done with molding for my GF.
Vijay Thapa

[Chida_gs]

Hi,

No Banks will provide full disbursement for House under Construction, Only for Apartment which are ready for Possession/Already Completed can be disbursed full amount.

So you need to have atleast some required Amount for the Construction stage, then once the stage is completed, Submit the Bills & as per assessment they will disburse the amount. It is like Post Pillar/Basement construction they release 20% of Loan amount, then Post walls construction another 20% like that.

Stage by Stage the amount will be disbursed by the Banks, as they won't allow to get the Benefit of full disbursement without Full construction.
It is also advantage for Customers as you don't need to Pay the Interest for the Full amount, since you havn't yet completed your construction,it will be unutilized fund & paying the Interest.

Better have some Surplus amount during Initial Stage of Construction & then you get the Percentage amount for the Next stage of Construction.
Hope this will helps to some extent.

[m_d1982]

Hi,

Contractor advised me to buy a water pump to enable easier curing. He says i can buy a new one which can be used after construction also, instead of going for a second hand one only for construction purpose. I have a couple of questions
1) Can i buy a submersible pump, As my Underground sump is inside the house would that be a problem.
2) Any suggestiong where i can get a good deal on water pumps/ Any guidance to an older post will aslo help.

[ramki067]

Martin,

I had bought 0.5 HP sump motor from "Taro" brand by Texmo Industries. It had aluminium body and with 2 year warranty (which no other reputed brand were offering). We already had submersible motor for borewell from Taro itself. Till now giving very good service.
0.5 HP motor is enough for 3 storey house. You can check out my thread below where some brands have been mentioned:
http://mybdasites.com/viewtopic.php?f=3 ... aro#p28216

Ramki

[m_d1982]

Thanks Ramki

Can you send me the address of this shop in Bomanahalli, I will check over the weekend. And also which model did you purchase?

[m_d1982]

Filled the soil inbetween the plinth beams.