Faced with declining demand for properties, real estate companies are courting buyers with a new offer: EMI holidays.
This trend is catching up in cities like New Delhi and Bangalore where real estate markets face stagnation. Under an EMI (equated monthly instalment) holiday scheme, the buyer only needs to make a down payment of 10-15 per cent of the flats cost and does not need to pay EMI till he gets possession. However, the buyer has to arrange the loan and the builder will pay the interest till the flat is handed over, in about 18-24 months.
According to a recently released report by Citigroup, developers like Parsvnath, Uppals, RPS Group, Gaursons India, Triveni Infrastructures and KDP Infrastructure are offering this scheme in select projects in NCR Delhi.
More : hindustantimes.com
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