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Real Estate Forum on Zero Emi Till Possession

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Q: While hunting for homes, they came across some builders offering us the no EMI till possession scheme.
Latest Answer: The scheme in my case is from the builder, not the bank. I have not registered the property and not signed any agreement involving any bank. So no EMIs. On posession and posession only, I have to pay the 80% to the builder or at that time if required take a loan from the bank. Yes, the builder has charged a premium over construction linked plan from me.
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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.
Latest Answer: 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.
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