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Page 24 - Customer Manual01
P. 24

8. BANK DISBURSEMENTS & CONSTRUCTION LINKED PLAN






                                                                                                                                 The joy of buying a Runwal Group home does not stop at just booking your home. It continues
                                                                                                                                 even in your quest for financing it. Runwal Group has tie-ups with banks who will help you with a
                                                                                                                                 hassle free loan approval at your door step.

                                                                                                                                 Important to note:
                                                                                                                                 Registration: Timely registration is necessary to ensure timely disbursements.

                                                                                                                                 Bank Formalities: Completion of all documentation and paper work and submission of sanction
                                                                                                                                 letter to Runwal Group

                                                                                                                                 Bank Disbursal: Disbursal and eventual payment to Runwal Group by due date

                                                                                                                                 Construction Linked Payments:  The same are linked to the progress of work at site,  and
                                                                                                                                 payments are demanded only when that particular work-stage is completed. It is mandatory to
                                                                                                                                 complete the registration of the agreement for sale to be able to make these payments.


                                                                                                                                 Runwal Group Service Commitment
                                                                                                                                 1.  Runwal Group shall endeavour to provide atleast 2 recommended banks, who would have
                                                                                                                                   approved the project for home loans and will thus enable reduced documentary requirements,
                                                                                                                                   which may eventually lead to quicker disbursements as well.

                                                                                                                                 2. Payment demand letter for construction linked payments shall be accompanied by an external
                                                                                                                                   architect’s certificate. Latest construction photographs shall be uploaded on the customer self
                                                                                                                                   service portal.


                                                                                                                                 Your responsibility at this stage:
                                                                                                                                 1.  Sanction and timely disbursement of home loan from the bank is the buyer’s responsibility. We
                                                                                                                                   urge you  to start the  banking  formalities early  to  ensure timely sanction  and timely
                                                                                                                                   disbursement. Although the banks which will be recommended to you by Runwal Group for the
                                                                                                                                   project are expected to result in relatively quicker disbursements compared to other banks,
                                                                                                                                   you will still need to ensure requisite documents and procedures with the banker are followed
                                                                                                                                   by you for timely disbursals.

                                                                                                                                 2. Timely registration of agreement will be critical in ensuring that you are in time to get
                                                                                                                                   disbursements from your bank to honour our construction based demands.
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