Festive Season Payment Plans: Are they really attractive?

Festive season is considered auspicious time by the buyers to invest in properties. And to stimulate demand further, developers have come up with attractive payment plans and discounts to make the affair a little easier on the buyers' pockets. While some builders are ready to share the loan EMIs with the customers for a period of time; others are allowing the customers to make payments in alluringly small installments.

Here are a few payment plans offered by the developers for the potential customers this festive season:

One Leaf Troy - Book for Rs 101 only!

One Leaf Troy is a mid-sized project (380 units in 3.5 acres) by One Leaf Group in Sector 10, Noida Extension. The project is expected to complete in November 2017. As a festive plan, the builder has offered to book a flat for just Rs. 101. Within 10 days from the day of booking, the buyer has to pay 10% of the total price of the flat. After this, 80% of the flat's price will be loaned to him by the bank that the builder has a tie up with. The EMIs for this loan will be paid by the builder till possession, and the remaining 10% of the price is to be paid by the buyer at the time of possession. Builder will also pay 10% of total cost of flat back to buyer once buyer has paid full price. Builder claims he has already sold 50 flats in this scheme. Hurry if you want to avail this offer.

Shubhkamna Epic - Pay 5% for booking and get 5% back when payment is complete

Shubhkamna Epic is a newly launched project by Shubhkamna Advert located at Sector 12, Noida Extension. Under the festive offer, you can book a flat in this project by paying just 5% of the total price. The next 5% has to be paid after the bank approves the documents, and finally 80% will be loaned to you by the bank. But, unlike One Leaf Troy, builder will not pay the EMIs; but the customer has to pay it. The next 5% has to be paid when the outer structure is complete and the remaining 5% at the time of possession. After you make the complete payment, 5% of the flat's total price will be returned to you by the builder. The plan though might look attractive, yet we believe it's not as attractive given the EMI has to be paid by buyer and 80% payment will be paid in the initial phases of the project itself.

Supertech Projects - Pay 10% on Booking

Diwali offers by Supertech are applicable for almost all of its projects. You have to pay 10% of the price at the time of booking, 80% will be funded by the bank for which builder will pay pre-EMI and the remaining 10% has to be paid at the time of possession. In case the possession gets delayed beyond 36 months then builder will reimburse buyer the Pre-EMI paid during the delay period. As simple as that! This scheme has been designed to help the buyers pay in easy installments this festive season.

Photo Credit: Wikimedia

Orris- Get Rs 500 Discount

Orris Group is offering a discount of Rs. 500 per sq ft on three of its projects- Carnation Residency, Aster Court and Aster Court premier. It is a Possession Linked Plan (PLP) in which you have to pay 35% of the price within 2 months from booking and the rest 65% has to be paid at the time of possession. There is no bank funding required in this plan. This offer is valid only till Diwali.

Gaur City - Booking at 10%, Pay EMIs only after possession

In order to help its customers buy their dream home during this auspicious time, Gaursons are offering easy payment plan. Under this scheme you have to pay 10% of the total price at the time of booking, then 80% will be funded to you by the bank and the builder will pay the EMIs till the time of possession. After which you have to pay the remaining 10% and handle the rest of the EMIs.

Cosmic Group - Pay 10% Booking Amount and get 10 gm Gold Coin

Yes! Cosmic group is offering gold coins for the purchase of its property. There are different payment plans like Construction Linked Plan (CLP), Down Payment Plan and Flexi Plan and this scheme is applicable with all the plans. You have to pay 10% of the amount for booking and on the second payment (according to the plan you choose) the builder will deliver a 10 gm gold coin to you.

Ajnara Group - Modular Kitchen and AC in all rooms

In order to promote the sales of its projects, Ajnara Group is offering extra amenities like AC in all bedrooms and Modular Kitchens with some of its projects in Noida. The payment plan is 10:80:10 under which you have to pay 10% on booking, 80% will be loaned by the bank within 45 days. But you do not have to pay any EMI till possession. This EMI holiday is very beneficial for the buyers. You can finally take possession by paying the remaining amount (10%).

Thus as you can see, the builders are all set to make your festivities even more joyous with attractive payment plans. So go ahead and book your home!