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No EMI for 2 years

Last updated: July 16 2010
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  • No EMI for 2 years

    Mapsko Casa Bella is offering no Emi for 2 years if we pay 15% down... Can anybody tell me if it is worth doing that? How does this whole thing works and is there any hidden charges going through this scheme... Thanks in advance!!
  • #2

    #2

    Re : No EMI for 2 years

    Originally posted by gurnor28 View Post
    Mapsko Casa Bella is offering no Emi for 2 years if we pay 15% down... Can anybody tell me if it is worth doing that? How does this whole thing works and is there any hidden charges going through this scheme... Thanks in advance!!
    check the link...u will understand it better

    https://www.indianrealestateforum.co...ssesion?t=7491
    MM

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    • #3

      #3

      Re : No EMI for 2 years

      In this, you get a downpayment danctioned from bank, which gives it to the builder.

      Normally you get a DP discount of 10-15%. In No EMI, you dont get this but it is given to bank to cover for 2 years EMI.

      It is taken by people who have difficulty paying both EMI and rent because their salary is less. Assuming 3 years for delivery, you gain by having to pay rent and EMI for only 1 year.

      If building is delayed, you have a lot ot lose. Bank does not lose anything in delay.

      No EMI works out some 5% cheaper than a CLP - based on total amount paid to bank.

      If delay is anticipated, then no EMI is a very bad scheme. Instead, it is better to go for CLP on bank loan with tranch EMI - the payments are kept moderate in the first 3 years as full disbursements have not taken place.

      If you cannot afford even the pre-EMI for a CLP, you probably should not be buying it.

      No EMI for 2 years is also a useful way for speculation, paying only 15% and selling before 2 years and discharging the loan and pre-payment charges from the profits. It makes for an easy and hassle free way to invest for the short term.

      Usually only the best projects get approved for no EMI scheme (i.e. downpayment by bank) and these are in high demand, making short term investment attractive
      Last edited July 16 2010, 12:56 PM.
      Venky (Please read watch a or before posting)

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      • #4

        #4

        Re : No EMI for 2 years

        Also, If you want to do some investment then No EMI option might be better..

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