SSM BUILDERS & PROMOTERS
CHENNAI – 600 044
Parents of SSM School
Residents of SSM Residency
Friends and Well wishers
(Valid up to 30.04.2012 only)
Sub : SSM Nagar – Housing Complex – Perungalathur, Chennai – 600 063
– Investment and Allotment of Flats – Reg.
1. The amount already paid will be treated as investment for the Project and
proportionate discount will be allowed in the cost of the Flat for the flat
purchasers. For other investors amount will be returned at the end of the
specified period along with agreed benefits.
2. Flat purchasers benefit – Example:
Cost of Flat 30,00,000
Advance Amount paid - Rs.500000/- 0
Less : Discount
a. Investment amount X factor 5,16,397
Rs.500000/- X 1.032794
b. Further discount proportionate
to the quantum of investment 0
10% of Investment value
Rs. 500000/- X 10% 50,000 5,66,397
Cost of Flat after discount 24,33,603
Less: Advance paid 05,00,000
Balance amount to be paid 19,33,603
Note: Please workout for different investments.
Factor – 1.032794 is for 24 month investment
3. When the Investment made by a purchaser is more than the amount
prescribed for booking, the entire investment will be treated as advance
for booking and discount allowed accordingly.
4. When return on Investment is more than the cost of the flat booked, the
excess amount at the end of the specified period will be returned to the
5. Those who invest money and do not opt to purchase a Flat, the amount
will be returned with benefits on the specified due date. Documents will
be executed accordingly.
6. Allotment of Flat to investors will only be from 19.04.2012 to 30.04.2012
on first come first serve basis. If no application is presented for allotment
of Flats on or before 30.04.2012, the investment already made will be
returned after prescribed period with benefits.
7. The provisional flat allotment letter will be issued instantly and the same
will again be confirmed after obtaining the plan approval from CMDA.
8. Allotment of Flat from 01.05.2012 will be as per the rates specified
in the booklet. Applicants, including parents will be treated at par
with all others. No concession in rate or acceptance of Investment is
possible beyond 30.04.2012 so as to protect the financial viability of
9. Payment of Flat Cost
The payment of Flat cost - installments will commence from the date of
plan approval by CMDA i.e. from October 2012. This has to be discussed
and finalized with each purchaser on case to case basis.
10. The loan from Financial Institutions / Banks will be organized. The
quantum of loan eligibility will depend on the cost of Flat, Gross Salary
and net carry home salary and remaining number of years of service
11. Allotment Restriction
Allotment under this category, is for the period from 19.04.2012 to
30.04.2012 only and is restricted to total saleable area of 12.00 lakhs
sq.ft. only, on first come first serve basis, to protect the financial viability
of the project. 12.00 lakhs sq.ft. of area will be approximately for 1200
12. For the flat purchasers discount of additional 10% under “quantum of
Investment” will be after summing up the total investment received
through them from different investors. It is applicable only for flat
purchasers and no cash payment will be made on this basis to others.