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    The Curious Case of Festive Season and Home Buying Offers

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% - 9.3% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.3% - 10.5% Floating
    0.25% to 0.5% (min. ₹5750) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    9.2% - 9.5% Floating
    0.5% (min. ₹11,500) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    Paperless Approval Option Available
    9.15% Floating
    Up to 0.5% (max. ₹11,500) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.20% Floating
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    Response Time Within 30 minutes
    9.15% - 10.25% Floating
    Up to 0.5%
    15L - 5Crs
    1-20 Years (10 yrs plot loan)
    Response Time Within 30 minutes
    9.15% - 11.75% Fixed/Floating
    Up to 1% One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.10% - 9.15% Floating
    5750 One time fee
    40L - 5Crs
    1 - 25 Years
    Response Time Within 30 minutes
    12.50% - 19% Floating
    2% One time fee
    2L - 1Cr
    1-20 Years
    Response Time Within 30 minutes
    9.15% Floating
    5,000 to ₹10,000 + S.T. One time fee
    20L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    11.12% Floating
    1% One time fee
    2L - 5Crs
    1-30 Years
    Response Time Within 30 minutes
    14% Floating
    2% One time fee
    2 - 25L
    5-25years
    Response Time Within 30 minutes
    Home Loan BYTES FROM OUR KITCHEN

    Home Buying Offers:

    For a vast majority of Indians, the decision to purchase a home is rather hard to come by. In fact, for them the resolve only sets in after decade’s worth of fiscal planning and saving.

    Also, these people in question aren’t likely to buy a property until and unless the right opportunity comes along. However, the ‘right opportunity’ isn’t always around to be found because of several factors like inflation and the rapid increase in the cost of residential properties, which is compounded by high interest rates on home loans.

    When is the Right Time to Buy a House in India?

    Although, there isn’t a ‘right time’ to purchase a house in India, the upcoming festive season, is actually the best period a prospective home buyer can get. This is because real estate sector has witnessed a massive slump in business over the last couple of years. Currently, almost every builder has suffered losses due to piling inventories and rapid decline in project launches.

    This is also the reason why builders are under immense pressure to sell their properties, who are leveraging the festive season to offset the downward trend in business and increase the sales numbers.

    What Are Builders Doing to Entice Home Buyers?

    As mentioned earlier, builders are looking to cut their losses and have decided that the festive season is the best time to do so. Presently, plenty of builders across the country are coming up with various discount deals to attract more customers and in turn drive sales.

    A Lowdown on the Offers:

    Here you will read about various offers provided by different builders.

    Gaursons India Ltd.

    Gaursons India Ltd., a NCR-based developer has begun offering a range of offers and are working in tandem with banks to ease the financial burden on buyers. Here are some of the deals Gaursons is offering:

    Offer 1:

    This offer is valid in over 500 ready-to-move flats in a number of Gaursons projects, namely Gaur Saundaryam and Gaur City in Noida West, Gaur Cascades in Raj Nagar Extension, and Gaur Sports Wood in Sector 79, Noida. For these projects, the company is offering six benefits which include:

    1. Loan availability of up to 90%, of which 80% will be provided by the bank, and 10% would be provided by Gaursons.
    2. No registry charges.
    3. No service tax on select units.
    4. EMIs that begin from the next financial year, i.e, 2017-18.
    5. 21 assured gifts.
    6. A customized payment plan.

    Offer 2:

    The second offer by Gaur sons Limited is called ‘21-21’ which is available on their Gaur Yamuna City project located along the Yamuna Expressway. This offer involves three deals. They are:

    1. A booking fee of Rs. 21,000 for the first ten months.
    2. EMIs only after possession of the property.
    3. 21 assured gifts.

    Besides this, the builder has also promised that all the bookings made for the property will be eligible for a lucky draw and one lucky winner gets to win a brand new car, when the draw comes out on Christmas day of this year.

    Paramount Group:

    Paramount Group, a real estate giant based in Noida, has also come up with a bunch of offers for customers who book their apartments. Their offer is applicable on three ongoing projects, which are Paramount Floresville at Sector 137, Noida Expressway, Paramount Golf Foreste at Greater Noida, and Paramount Emotions at Greater Noida West. The offer they are providing includes:

    1. A free 1.5 ton air conditioner.
    2. Free wardrobes.
    3. Free modular kitchen.
    4. Price guarantee on the property.
    5. A free car parking.
    6. Nil loan processing fee.
    7. Free maintenance for a period of 2 years.
    8. Customised payment plan.
    9. Double-delayed penalty charges.
    10. Free first transfer fee.
    11. Free club membership, and
    12. Free 1 KVA power backup.

    Saya Group:

    Saya Group, a well-respected developer hailing from the Noida region, also has plenty of offers to provide on their residential properties. Saya Group’s offer is available on two different projects: Saya Zion in Greater Noida West and Saya Gold Avenue in Indirapuram. The offer provided differs for both these projects. Here’s what it looks like:

    Saya Gold Avenue:

    For Saya Gold Avenue, the group is providing a customised payment plan which follows a 40:20:30:10 model, where 10% should be paid at the time of booking, 30% within the first 45 days, 20% during the casting of 16th floor, and 30% on the casting of 30th floor, and the last 10% must be paid at the time of possession.

    Saya Zion:

    Saya Zion is available for buyers at a flat rate of Rs. 3,599 per sq.ft or Rs. 38, 740 per sq. mt. However, this deal is exclusive of power back up, electric meter, club development, lease rent, and IFMS.

    Ajnara India Ltd.

    Ajnara India Ltd. is yet another builder based out of Noida, who are offering great deals on nine of their projects. These projects include Ajnara Integrity in Raj Nagar Extension, Ajnara Gen X in Crossings Republik, Ajnara Homes and Ajnara Le Garden in Greater Noida West, Ajnara Ambrosia in Sector 118, Grand Ajnara Heritage in Sector 74, The Belvedere in Sector 79 of Noida, and Ajnara Daffodil and Ajnara Elements in Sector 137 along the Noida Expressway.

    Ajnara Limited’s offer comes with the following facilities:

    1. Free club membership.
    2. Free modular kitchen.
    3. Free wardrobes.
    4. Free installation of electric meter.
    5. No loan processing fee.
    6. No price escalation.
    7. Referral benefit for new customers.
    8. No EEC & FFC charges.
    9. Bookings at just Rs. 50,000.
    10. No first transfer fee.
    11. Customised payment plan.

    Airwil Infra Ltd.

    Airwil Infra Ltd. too is in the offing to provide amazing deals for prospective home buyers. What is surprising in Airwil Infra Limited’s case, however, is the offers they are providing. In case of the one of their draws, the builder will declare 100 winners, out of which 30 winners will get Audi A4 sedans, the other 30 will get Audi A3 sedans, and the remaining 40 will get Mercedes B-Class sedans.

    40 customers in the next draw will get fully furnished villas. The total cost of running the draws would cost the company over Rs. 100 crore. However, Vikas Bhagat, the firm’s director is optimistic about spreading the festive cheer among their prospective buyers.

    When Can Customers Take Possession of The Aforementioned Properties?

    All the builders are of the impression that customers would rather step into a new home during the festive season rather than wait to take possession. To offset the demand, all the builders are following a timeline to finish as much projects as possible even before the festivities begin. For instance, Gaursons India is ready to offer about 15,000-20,000 residences to its customers within the next few months while Ajnara India Ltd. will be ready with 5000 to-move-in properties in the upcoming months.

    Bottomline, the upcoming festive season is set to improve the fledgling state of real estate in and around Delhi and its adjacent regions.

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