Real Estate Forum on Subvention Schemes

Latest Answer: Hi Swapnil, Builder is bound to refund the booking amount. If he is paying then ok and if he is trying to ignore and misleading you then Email from builder will play vital role. If builder fail to refund pre EMIs monthly as agreed by him in Email. Then you can cancel the booking and seek refund. Yes email are legally admissible as evidence in court.

Latest Answer: Hi Lalit, Very details answers but i want to know the benefits of the Subvention schemes?

Latest Answer: Yes, you are right Abhishek. Builder is trying to cheat him. A subvention scheme in which the homebuyer pays 10-20% of the price of the apartment at the time of purchase. The balance is paid by a bank to the developer as a loan under a three-way agreement between the developer, the buyer and the bank. While the project is under construction, the developer pays the interest on the loan to the bank. The bank disburses money to the developer as construction progresses. The buyer's EMIs begin only after he gets possession. So, i will only suggest you that plz. don't pay any interest to bank or the builder.

Latest Answer: Hi everybody, A lot of small developers advertise low-cost properties in small towns and suburbs. Don't trust them blindly. Until there are entry barriers and tough rules for developers, it's your responsibility to verify the builder's credentials.