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NO emi till possesion

Last updated: August 28 2012
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  • NO emi till possesion

    Hi guys,
    Can you please suggest some residential projects in NCR with NO emi till possession schemes?
    Or any other source from where I can get this information.
    How good is "NO emi till possession" schemes for the buyers?
  • #2

    #2

    Re : NO emi till possesion

    Its called no emi - subvention plan wherein builder charge higher sale price to give this plan to cover its interest component.

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    • #3

      #3

      Re : NO emi till possesion

      Good option for end users normally staying on rent.

      NO EMI till possession works like this-
      You do the self payment which is usually 15-20%, balance u get loan. You do not pay any EMI till possession and EMI starts only when u get possession of your dwelling unit/flat.
      From the date of allotment/loan upto the possession, the interest part is taken care by builder, interest is max in the start as all home loan works on diminishing returns.You pay the principal component and interest part once the possession is given to you.

      Eg- You decide to buy a flat for 50L. You pay 10L upfront and get allotment/Subvention loan. Loan is 40L. Interest calculated for 3 year is approx 9L. This amount is paid by builder who gets money from the bank as per requirement. Flat owner/ Builder usually gets loan 12% from bank which is better than builder getting loan 15%.
      MM

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