Hi Sanjay, have you booked an unit in this project?? Even, I am interested.. Please let me know the rates they are quoting.. And yes, about the payment plans, you can go with any of the plans advised by Mr Arup. Do ask the developer or other owners what type of plans they are following before making any payment..
I agree with Arup. Also, there is option of Down Payment which requires you to pay the entire price of the property at the time of booking. One possible advantage of this is that you can expect to get a 10%-12% discount on the property by paying the entire amount in full.
A typical construction-linked plan conceptually looks like the following:
10% of BSP at time of booking 10% of BSP at time of excavation 10% of BSP at casting of the ground floor slab...and so on Final installment at completion of the roof + other dues (such as club membership, development charges if any, parking fees)
Hi Sanjay, there are usually 3 types of plans: Construction-linked plan, Time-linked plan and down payment plan.. A typical time-linked plan conceptually looks like the following:
10% of basic selling price (BSP) at time of booking 10% of BSP every quarter thereafter for next 8 quarters 10% BSP at time of possession + other dues (such as club membership, development charges if any, parking fees)