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Your qualifying period starts from the date your Tier 2 was ISSUED and not the date you submitted your application.1.)shall i apply ILR at the end of my current Tier 2 Visa which is until - 01/08/2025 without any further extension to my Tier 2 visa considering 28days grace period as i was initially submitted my Tier 2 application on 27/08/2020.
They should have applied for and been granted a visa in line with yours. Why is this not the case?2.)Currently planning for dependents (wife & Kids) Visa based on my Tier 2 CoS - but not sure whether to go for 4yrs or only 3yrs from the Visa Cost perspective to avoid multiple extensions.
You can apply for ILR no sooner than within 28 days before the initial visa issue date. You will unfortunately, need to extend your visa as you are more than 3 months short for ILR.Because, If Q1.) answer is 'NO', then anyway i (main applicant) have to go for an extension to cover any short fall days/months as per my current BRP dates mentioned above to be eligible for ILR.