Popular schemes of Bangalore realtors to lure buyers

Bangalore or Silicon City is a major IT and financial hub of India. It is also one amongst the fastest growing metro cities of India with a record economic growth of about 10.3%. The city has many IT establishments that provide efficient career opportunities to the people. Also the city has many reputed educational institutions and colleges which make it an attraction for people from across the country. As such, the city witnesses a huge influx of people from across India who looks forward to purchasing properties and homes in the city. To catch the eye of these customers and lure them into making purchases, the realtors, real estate developers and builders regularly introduce different schemes and offers.

Being blessed with a favourable weather, good transportation and communication facilities and efficient business opportunities, Bangalore pose as an attractive destination for potential buyers both in the forms of domestic customers as well as NRI investors who look for opportunities through investments. There are many schemes for affordable housing and sites in Sarjapur Road which the realtors provide to get prospective clientele and customers:

Monthly Interest waive: Through this scheme, the payment of equal monthly instalments (EMI) is exempted for a certain period of time. Though the customer needs to take a loan and the registration of the new projects in Sarjapur Road, he/she can possess the place and wait long for this waive period before starting to repay the loan. However, one of the cons of this scheme is that the interest rate levied after the waive period is much higher than the bank rate.

Subvention schemes: Under this scheme, the property buyers can make a payment as small the ratio he/she wishes with the rest of the money funded by the associate bank. The home loan is thereafter paid after the space is possessed or after a specific time period as decided by the developer. As per this scheme, the customers pay about 5-10% from their own and about 70% is lent by the bank. The remaining 20% balance is given by the customer through EMIs.

Good subvention schemes without banking funds: In this scheme, the customer needs to pay about 19.9% of the overall contribution and the rest of the amount can be paid after the possession of the property or after a specific time period as decided by the employer. This scheme however, doesn’t sate registration as a compulsory act.

Gradual lower interest rate: Under this scheme, the customers get a reduced interest rate for the initial 2-3 years. Also it is upon the buyers to determine the interest rates that would be applicable after the period. The cons of this scheme are that the financial institution may charge the interest rate at the previous market rate and would end up increasing the EMI of the customer.

Furnished Flats: Everyone loves getting into a home and projects in Sarjapur Road without having to worry about setting up the basic furnishing accessories and work. The developers have taken note of that and now introduce semi and fully furnished flats to lure the customers into buying the flats and apartments. The present day real estate market has witnessed a major upsurge in the demand of furnished flats-both semi furnished and fully furnished ones.