How a Real Estate Company in Delhi NCR is Making Homeownership Easier with Subvention Schemes

Everybody dreams of making it big in life. But one dream which everybody hopes will definitely come true is the dream of owning a state-of-the-art home. Purchasing a home is without any shadow of a doubt the biggest financial transaction anybody makes in their entire life. However, the most difficulty arises in deciding the timing of buying a house. Most people think that it is next to impossible to buy a home during the initial phase of one’s career, especially in a competitive market like that of a Real Estate Company in Delhi NCR.

If one’s salary ranges between a humble 30,000 to 40,000 Rs per month, one might end up believing that buying a house is definitely not an option. But that is definitely not the case. If your salary ranges anywhere in between 30 to 40K on a monthly basis, then you can buy the home you have always dreamt of. Many renowned Real Estate Companies have made it possible through innovative schemes. To know how, keep on reading.

In a bid to reach out to people who have just started climbing the corporate ladder, real estate developers have come out with a unique and immensely innovative payment plan known as a subvention scheme. Subvention schemes make buying a property in Noida or other prime locations a whole lot easier for people who draw comparatively lesser salaries.

Under the subvention payment plan, a buyer usually ends up shelling out money in the 10-80-10 ratio but it can obviously differ from developer to developer. A buyer needs to pay merely 10% during the booking phase and another 10% at the time of possession. But here is where the subvention plan really gets interesting because the rest 80% doesn’t have to come out of the buyer’s own pocket.

80 percent of the total cost of the project is financed by an NBFC or a commercial bank. The money is paid by the financial institution directly to the developer. Till possession, the buyer doesn’t need to pay any EMIs or interest whatsoever. The buyer will start shelling out installments on a monthly basis only from the time of possession. Till possession, interest on the loan is duly and timely serviced by the developer itself. Thus, subvention allows you to just book a home and relax till the developer hands over possession.

Subvention is immensely beneficial to buyers as they won’t have to pay interest on the home loan till possession, thus they end up saving a lot of money. Also, as EMIs begin only at the time of possession, the buyer gets a lot of time to save up money to handle the financial burden in the future. Also, the developers are on their toes all the time to deliver the project on time because if they delay the project then they will have to shell out interest for that much longer. Therefore, it is a definite win-win situation for the intending buyer.

So what are you waiting for? Explore the plethora of cutting-edge homes in the fast-developing NCR today. Get in touch with NCR’s most reputed Real Estate Consultant in Noida, Madhyam, immediately and fulfill your long-cherished dream of owning a home. After all, Madhyam is the perfect link between you and your dream home.