The Indian real estate market continues to remain lacklustre amid huge pile up of inventory and slow sales of realty projects. While there are many positive developments taken place in the past few months, property buyers are still wary about investing in a real estate property due to high cost and volatile market.
In response to the unrelenting sluggishness in the real estate market, builders are now offering various schemes and payment plans to attract fence-sitters to invest in the sector. While there are many schemes and proposals announced time to time by various real estate builders, here are the top 5 most popular schemes offered by real estate developers in Delhi NCR.
1. 20:80/ 10:90:10/ 8:92/ 5:95 schemes – Builders are offering these schemes to let buyers pay minimum possible amount at the time of booking and rest after the offer of possession or in the agreed time. These schemes enable buyers to pay the initial amount by themselves and avail a bank loan for the rest of money. Registration of property is not compulsory in the projects offered under these schemes.
2. Interest waiver for 12/24/42 months – Real estate developers offer property buyers waiver of EMIs for the stated period or as decided by both the parties, subject to the loan tenure. Property seekers should carefully examine the interest rates that would be charged after the waiver period gets over. It often happens that bank charges higher than normal interest rates after the waiver term gets over.
3. Lower interest rate for 2-3 years – Under this scheme, a property buyer needs to pay lower interest rate for two to three years on home loan, as against the normal prevailing market interest rate. The buyers have to confirm the interest rates applicable after the specific period as it may be charged higher after the initial term. You must register your property and avail a bank loan to undertake this scheme.
4. Projects with semi/fully-furnished properties: This is another way through which real estate developers attract potential buyers to invest in their properties. Builders offer semi or fully-furnished flats to investors at affordable prices. The scheme is generally for end-users and for properties that are in far-off suburbs. Projects with semi or fully-furnished properties are sold out faster than normal properties.
5. Guaranteed offers of return and rentals: This scheme is meant to attract investors who want maximum benefits from their investment and better capital appreciation over the years. Builders offer some percentage value as a guaranteed return on investment till the offer of possession. Also, they offer guaranteed rentals for two to three years to people who already have a real estate property and wanted to invest in another.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group says, “The Indian real estate sector is witnessing the winds of change. While builders are trying to attract maximum buyers for their properties by offering them different schemes for limited periods, factors like project location, local amenities and builder’s reputation still play a crucial role in influencing buyers’ choice.”
In response to the unrelenting sluggishness in the real estate market, builders are now offering various schemes and payment plans to attract fence-sitters to invest in the sector. While there are many schemes and proposals announced time to time by various real estate builders, here are the top 5 most popular schemes offered by real estate developers in Delhi NCR.
1. 20:80/ 10:90:10/ 8:92/ 5:95 schemes – Builders are offering these schemes to let buyers pay minimum possible amount at the time of booking and rest after the offer of possession or in the agreed time. These schemes enable buyers to pay the initial amount by themselves and avail a bank loan for the rest of money. Registration of property is not compulsory in the projects offered under these schemes.
2. Interest waiver for 12/24/42 months – Real estate developers offer property buyers waiver of EMIs for the stated period or as decided by both the parties, subject to the loan tenure. Property seekers should carefully examine the interest rates that would be charged after the waiver period gets over. It often happens that bank charges higher than normal interest rates after the waiver term gets over.
3. Lower interest rate for 2-3 years – Under this scheme, a property buyer needs to pay lower interest rate for two to three years on home loan, as against the normal prevailing market interest rate. The buyers have to confirm the interest rates applicable after the specific period as it may be charged higher after the initial term. You must register your property and avail a bank loan to undertake this scheme.
4. Projects with semi/fully-furnished properties: This is another way through which real estate developers attract potential buyers to invest in their properties. Builders offer semi or fully-furnished flats to investors at affordable prices. The scheme is generally for end-users and for properties that are in far-off suburbs. Projects with semi or fully-furnished properties are sold out faster than normal properties.
5. Guaranteed offers of return and rentals: This scheme is meant to attract investors who want maximum benefits from their investment and better capital appreciation over the years. Builders offer some percentage value as a guaranteed return on investment till the offer of possession. Also, they offer guaranteed rentals for two to three years to people who already have a real estate property and wanted to invest in another.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group says, “The Indian real estate sector is witnessing the winds of change. While builders are trying to attract maximum buyers for their properties by offering them different schemes for limited periods, factors like project location, local amenities and builder’s reputation still play a crucial role in influencing buyers’ choice.”