[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as undermentioned.
With prospects of under-construction properties looking up following the cut in Goods and Services Tax (GST), interest subvention schemes offered by builders through tie-ups with banks are likely to come into focus. Along with discounts and freebies, such schemes could be promoted heavily to attract customers in what is seen as a buyer’s market at the moment.
How it works
Paying a small amount—5-20%—upfront to book an apartment and deferring EMIs till possession will attract prospective home buyers who want to avoid the EMI burden till they move into the house. “The target group is home-seekers who are currently living on rent and wish to avoid interest payment in addition to rent,” says Shaji Varghese, ED and Head, PNB Housing Finance. Such home buyers would find it difficult to afford both rent and interest servicing on the disbursed amount or pre-EMIs, before completion, making subvention schemes useful.
Read more at:
Kamagroup Pvt. Ltd.
Have a nice day.