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Do You Know These Benefits Of Subvention Schemes?

By Runwal Group Posted On Oct 14, 2019
Category Market trends and insights

Benefits of subvention schemes

Subvention is that one word in the real estate market that has caught everyone’s interest. A vast majority of renowned real estate developers have been offering subvention schemes to their customers. So what exactly does the subvention scheme entail? Under this scheme, the customer pays the initial amount while the rest is organised through a bank. The customer forgoes the interest cost for a specified period, which is borne by the developer. The customer starts paying the EMIs only after the specified period has ended. And since the payment from the bank depends on the construction progress, the pace of construction is kept in check.

Here’s a closer look at all the benefits of the subvention scheme.

Low Initial Payment

The initial payment to book your home can be a percentage as low as 10% of the Agreement Value. This gives you ample time to plan and manage your cash flows and EMIs to be paid after the end of the period.

Entry Price Advantage

Since the project is under construction, the customer pays for the project at a lower price than its fully developed counterpart. This low initial investment can yield a higher ROI in an appreciating real estate market.

Limited EMI Burden

With no EMIs for a specified period of time, customers do not have to worry about compromising their finances. They can plan well in advance and keep building their savings for when the time comes to pay the EMIs.

On-Time Construction

Builders are paid by the banks based on the pace of construction. As such, customers can rest assured knowing that the project will be delivered on time. Usually, customers resume their dues by the time the building is almost ready. Also, RERA affords greater protection to customers’ investments as the developer cannot divert the funds elsewhere.

Thanks to the risk-free benefits, the subvention scheme is touted to be one of the most promising opportunities for you to buy your dream home. If you’re looking for luxurious living in the heart of Mumbai, you can take a look at the projects by Runwal Group. You can check out the offers on the development today!

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Disclaimer

The plans, specifications, images and other details herein are only indicative and subject to approval of the concerned authorities. The Group / Owner reserves the right to change any or all of these in the interest of the development, without prior notice or obligation. Artist’s impressions are used to illustrate amenities, specifications, images and other details and these may be applicable to select apartments only. Tolerance of +/- 3% is possible in the unit areas on account of design and construction variances. All brands stated are subject to final decision of the project architect. This printed material does not constitute an offer and/or contract of any type between the Group / Owner and the recipient. No booking or allotment shall be deemed to have been made on the basis of this printed material. Any Purchaser / Lessee of this development shall be governed by the terms and conditions of the agreement for sale / lease entered into between the parties, and no details mentioned in this printed material shall in any way govern such transactions unless as may be otherwise expressly provided in the agreement for sale/lease by the Group / Owner. The Group / Owner does not warrant or assume any liability or responsibility for the accuracy or completeness of any information contained herein.