What is this zero EMI till possession being offered by various builders to attract buyers?

Q: I recently read about this article called "Zero EMI till possession being offered by builders" in a magazine. What is it all about? Please share your views.

suryakumar46,

31st October 2011

Real estate News in Noida

zero emi till possession

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Replies (1)

Yes it is very true and is in demand nowadays. It is also called as subvention. It means once your loan is sanctioned you do not have to pay monthly instalments and instead builder is the one who pays EMI by giving the consumer post-dated cheques for a pre-defined period, which could be anywhere between one year to 30 months, till possession. However builder only pays the interest part and the buyer has to pay the principal part of the EMI. At present Emaar MGF, Ramprastha Developers, Vatika and Ansals Housing are offering this scheme.