Re: Finally Started my construction a Duplex 30X50 site in E
Posted: June 12th, 2014, 9:13 am
7 Feet walls have been constructed. Lintels work to be completed by this week.
@guruprasad7 - With regards to materials used for contruction, The agreement i have with contractor is he will inform me when the new load arrives. Since i stay close in 1 km radius of the construction site i try to visit the site the same day... However with regards to wood and bathroom fittings, Electrical fittings, Flooring i will go along wwith the contractor while purchasing.. But still there are loop holes like the cement + Sand mix ratio, proper curing etc which i have to go ahead with what he says.
@Chida_gs - There are two issues i am facing with bank
1) Delay in disbursement - The problem is i have taken a loan for an axis bank approved agency ( I was not aware of this while taking the loan). Hence my request has to go through them and they receive the DD on my behalf. Lead time in them sending request to Axis bank and lead time for them to give me the DD. Eg last time it took 4 days for the agency to give me the DD.. I have approached Sr Management written to Nodal officer, Sr VP etc.. However what they say is that since i took loan through agency i have follow the same process and cannot be changed.
First disbursement they had a wrong account number on the DD and to change this it took 10 days.
2) Very less amount being approved compared to the progress made.. Right now only around 35 % of amount is approved against the actual cost incurred till now.
I will see how it works for this disbursement and decide whether to change the bank. I am paying pre emi currently for whatever amount disbursed till now.
@guruprasad7 - With regards to materials used for contruction, The agreement i have with contractor is he will inform me when the new load arrives. Since i stay close in 1 km radius of the construction site i try to visit the site the same day... However with regards to wood and bathroom fittings, Electrical fittings, Flooring i will go along wwith the contractor while purchasing.. But still there are loop holes like the cement + Sand mix ratio, proper curing etc which i have to go ahead with what he says.
@Chida_gs - There are two issues i am facing with bank
1) Delay in disbursement - The problem is i have taken a loan for an axis bank approved agency ( I was not aware of this while taking the loan). Hence my request has to go through them and they receive the DD on my behalf. Lead time in them sending request to Axis bank and lead time for them to give me the DD. Eg last time it took 4 days for the agency to give me the DD.. I have approached Sr Management written to Nodal officer, Sr VP etc.. However what they say is that since i took loan through agency i have follow the same process and cannot be changed.
First disbursement they had a wrong account number on the DD and to change this it took 10 days.
2) Very less amount being approved compared to the progress made.. Right now only around 35 % of amount is approved against the actual cost incurred till now.
I will see how it works for this disbursement and decide whether to change the bank. I am paying pre emi currently for whatever amount disbursed till now.
Will start blogging the detailed information as Martin is doing, so that would help other members here.