Various Payment scheme offers by Builder
It is a blend of construction-linked and down payment plans. Under this plan, you pay 10% on booking and 30-40% of the purchase price within 30 days of booking. It offers you safe option as the remaining 50-40% payment is made in tranches.
Finally, at the time of possession, rest 10% is paid along with some nominal charges.
It is plan linked to the construction stages. It is a safe route compared to down payment plan when it comes to project delay. Within 90 days from booking, you need to pay around 25-30% of the property value and rest in installments depending upon the construction stages. Under the said plan, you enjoy tax benefit on all your payments under 80C.
At the time of booking, you have to pay 10-15% upfront amount. And, thereafter 80-85% of the purchase price within 30-90 days of booking. Further, at the time of possession you need to pay rest 5-10% amount, along with additional charges, if any.
The equated monthly installments (EMIs) begin as soon as the bank pays the upfront amount (if you are opting for a home loan.)
Opt for this plan, if the builder has got good track record and if the development is closer to completion.
Under this arrangement, you have to pay a certain percentage of the property value within a stipulated time frame, here installments are time-bound. To book a property you need to pay 10% in the beginning.
After 1-2 months, from the date of booking the bank grants 80% of the amount to the developer. In other words, the developer obtains 80% of the amount through bank loan. Till the pre- decided period, the developer pays the interest on this loan. Finally, you need to pay the rest of the amount i.e. 10% at the time of possession.
The best part about this project is that you are not required to pay EMI till the possession of the project.
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