Deferred Payment Plan

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  • In this plan, the contract is signed between the buyer and the developer. The home buyer has to pay a certain percentage of the total value of the property at the time of
    booking the property. Usually it ranges from 5 to 25 percent of the total value. And the rest of the balance is paid at the time of possession.
  • Deferred payment plans are available in various combinations like: 10:70:20, 30:30:40 etc. – depending on the various stages of construction. Of late, another modification has been introduced in this scheme. About 80 percent of the entire amount from the bank is paid to the developer by the bank in 10 small installments. And the rest of the 20 percent is paid by the buyer in small installments like 2 percent. This is known as smart subvention scheme.Benefits to Buyer