For all your loan related requirements our representative can assist you with the document compilation and help you tie-up with the above list of banks
Sobha, in their over 2 decades of being in the business, has built their reputation of being the ‘Most trusted brand’ in India through an uncompromising value system of integrity and customer-centricity. Being amongst the industry leaders, the company has shouldered the responsibility to introduce a scheme that is transparent and beneficial to the customer. Here are answers to some questions the customer might have regarding the Sobha Subvention scheme that the company is currently offering on its luxury apartment project – Sobha City, Gurgaon.
What is a subvention scheme?
There are three parties-the buyer, the banker and the developer involved in a subvention scheme. The buyer books the property by paying up to 30% money upfront. The rest is paid by the bank or Housing Loan Finance Company (HFC) in the form of loan to the buyer. The HFC disburses the loan directly to the developer as per construction linked plan with the progress of construction. The developer then bears the interest cost of the loan for a fixed period mentioned in the buyer-seller agreement.
What is the Sobha subvention scheme?
Sobha is offering 10:75:15 Subvention Scheme on select inventory of Sobha City for a limited period. The buyer or investor pays only 10% of total Basic Sale Value within 30 days of booking along with EDC / IDC; 75% will be paid by the HFC as per the construction plan; the final 15% will be paid by customer thereafter as per construction milestones. The buyer is not required to pay any EMI till the Offer of Possession or 31st Oct 2021 (whichever is earlier).
Is this scheme open to all buyers? Or is it conditional?
The buyer has to be eligible for 75% loan from the HFC. If for any reason the buyer is not, or wants to book an apartment without entering into the scheme, they may do so under normal Construction Linked Payment Plan.
Which Home Loan Finance Companies are offering this scheme for Sobha City?
Currently this scheme is available under exclusive tie-up with HDFC Limited and ICICI Home Loans
What are the advantages of buying through a Subvention scheme vs. a regular purchase?
The advantages to a buyer are many – both financially and personally:
Are there any possible risks of buying through such a scheme?
As with most marketing schemes, there are certain factors that a buyer needs to be aware and wary of while availing the subvention scheme –
What are the advantages of buying in Sobha City through this Subvention Scheme?
Over and above all the said benefits of a Subvention Scheme, Sobha City offers additional advantages such as –
The Sobha subvention scheme on Sobha City is a limited period offer. The best time to buy is NOW.
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