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Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

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Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

Last updated: December 28 2014
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  • Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

    Dear Home Buyers,

    A reputed developer has came up with 10-90 subvention scheme in Naigaon (A suburb of Western Mumbai). The scheme is approved by Axis Bank.
    It's an wonderful opportunity for end-users as well as investors as you can now own a home in Mumbai for just 10% of property value + the registration charges of course!
    The flats cost Rupees 19.25Lac only & the approximate super built-up area is 500 square feet.
    The best part is that the developer has availability of flats for which the possession will be within 6 months (as per them)
    Last edited August 16 2013, 06:19 AM.
  • #2

    #2

    Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

    Wow, RE Market must be really bad to come up with such schemes. If things continue like this, the day won't be far when we start seeing 5%, 2% and 0% down schemes.
    Reminds me of the US Housing crisis when people with little or no incomes were buying homes for 3, 2 and even 0% down.

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    • #3

      #3

      Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

      You're absolutely correct in your place.
      But the home buyers in Mumbai who aren't able to gather 20%+taxes+other charges (lets call it as 30% of PV) will not be afford homes in near future. So its ultimately necessary for developers (a few for god's sake) to come up with a scheme which favors the end-user and he/she can own a dream home easily.

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      • #4

        #4

        Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

        Originally posted by darkhorse View Post
        Wow, RE Market must be really bad to come up with such schemes. If things continue like this, the day won't be far when we start seeing 5%, 2% and 0% down schemes.
        Reminds me of the US Housing crisis when people with little or no incomes were buying homes for 3, 2 and even 0% down.
        And how can you forget 110% mortgage which caused the whole 2008 crisis.

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        • #5

          #5

          Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

          Owning at lower downpayment is okey - but is 4000 psf rate in Naigoan justified?

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          • #6

            #6

            Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

            Originally posted by rsrsin View Post
            Owning at lower downpayment is okey - but is 4000 psf rate in Naigoan justified?
            The prices of a particular project may vary from others in a certain locality - that depends upon the project and developer too.
            The prices in Naigaon are somewhere around Rs.3500-4000 as of now (of bankable projects by reputed developers). And, the price of subvention scheme property will always be slightly higher as than the CLP or DP plan prices.

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            • #7

              #7

              Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

              Do give us more details about the project , developers and contact details

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              • #8

                #8

                Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

                Its - Pearls Global Arena
                The project is located in Naigaon (East) and is considered to be one of the good projects there.
                It is quite close to Juchandra (Central suburb) too.

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                • #9

                  #9

                  Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

                  Originally posted by rsrsin View Post
                  Owning at lower downpayment is okey - but is 4000 psf rate in Naigoan justified?
                  Well if Vasai & Virar, both quoting 6k+ is justifiable, then why not Naigaon?

                  BTW, Pearl Global Arena is located in Tiwri which is 2 km from Naigaon railway station.
                  Last edited August 17 2013, 03:10 PM.

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                  • #10

                    #10

                    Re : Developer Offering 10:90 Subvention Scheme in Naigaon, Mumbai

                    Originally posted by PropXpert View Post
                    Its - Pearls Global Arena
                    The project is located in Naigaon (East) and is considered to be one of the good projects there.
                    It is quite close to Juchandra (Central suburb) too.
                    Well this project is 2 years in the making, what is the latest status?

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