Plot on Easy EMI Scheme

Q: Hi!, I have seen many web posts for buying Residential plots in different regions of Bangalore and these plots are being offered by the developer on EMIs. I am doubtful on such offers as banks are not involved in financing or EMIs. One of such post I saw was http://www.99acres.com/customised/sri-balaji-residency-whitefield-bangalore-residential-property/emi-scheme-sri-balaji-residency-whitefield-bangalore-residential-property.htm.
I dont want to go for Bank loans but I am seriously thinking about investing in such EMI based buy option. so please suggest if it is a going to be a safe investment of 4-8 Lacs. Also, kindly suggest some reputed developers whom can be contact for buying such plots on EMIs in Bangalore. What are the legal things we have to keep in mind while buying such plots ?

Thanks,
Amit

amit r,

27th September 2013

Buying property in Whitefield, Bangalore

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Replies (5)

Yes we can buy lands and plots using EMIs from all the banks currently working in the country. But the only concern is that if you opt for EMIs then the property price will cost you more at the end.

Tejesh Kumar, Bangalore

9th June 2015

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EMIs has both advantages and disadvantages. The biggest disadvantage of EMIs is what Mr Tejash already explained and the advantage is that EMI lessen the burden which means reduce the one time money payment into small parts. EMIs are safer than giving all the money in one shot.

Daksh, Bangalore

9th June 2015

Hi Amit, you got any replies or info on your query?

Sugumaran AR, Apartment Resident

24th February 2014

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Hi Hari Lal, Thank you very much for responding to my query.
1. My concern is how reliable are these builders who come up with such EMI schemes.?How safe and
reliable are these builders/Brokers/Agents ?
2. Do you know anybody who has spent in such scheme in your friend circle ?
3. Have you ever heard of any cheating/fraud case under similar payment scheme?
4. Can you suggest some reliable builders who offer plots on similar easy EMIs for 2-4 years duration ?

amit r,

27th September 2013

Comment

Hey I am not sure about such kind of plans it is better to take advice from a legal expert to be on the safer side. There is also not much information available about the builder over the net.

Shiva Reddy, Bangalore

6th March 2014

u can try to invest in mutual funds, because property price will decrease day by day

Hari lal,

27th September 2013

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