What is No EMI Till Possession/Subvention Scheme Concept?
Builders propose their projects to bank; builder illustrates its project amenities & its unique sales points that why a client will prefer them to buy a property in their project. After analyzing location, project scope and other important parameters bank realizes it’s a profitable deal then they pass the project for No Emi till possession. Finally when bank looks agree to provide finance, builder authorizes the bank as premier banking partner or preferred banker, in this process builder gets project related finance needs fulfilled by bank. Bank releases amount on the be-half of a customer. Bank has a benefit that they are getting clients without making so many efforts. Both builder & bank helps each other indirectly. Builders also earn an extra benefit that they charge a little bit extra price compare to their regular plans.
What’s customer benefit / subvention scheme benefits?
Customer is also getting huge benefits such as- customer who are living on rent they don’t need to bear burden to pay rent and E.M.I. simultaneously. When the customer gets possession then only his EMIs will be started. Apart from this if we see this scenario from an investor point of view then you’ll find that the investor is getting all the benefits on the entire capital which he has not invested yet, so without investing a heavy amount he is still able to get higher returns at complete amount of capital.
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