Interest subvention scheme surprises home buyers!
Home buyers are taken for a surprise when they are asked to pay under interest subvention scheme.
Under this scheme, some of the buyers who have made a payment of initial amount have this right of not paying the EMI (equated monthly installment) for the time period when the property is under construction till its possession.
Many developers have been using this scheme to lure more buyers and gain their confidence.
The developers pay their EMI until the project is under construction.
Only after construction, buyers have to pay the rest of the principal amount along with the interest value to the builder.
Source: Business Standard
Builder, Buyers, Buyers in Delhi, Construction, Delhi, EMI, Equated Monthly Installment, home buyers, Interest, Interest subvention scheme, New Delhi, Principal, Principal amount
