After inflexibly holding on to high prices for years in the face of slow-moving sales, and rising costs real estate developers have finally come round to the fact of presenting comfortable payment plans to potential customers. Possession Linked Payment Plan is a result of this effect.
As the name suggests, under this plan you will have to pay only a fixed amount and is free from making any further commitment till possession. The scheme proves beneficial for the developers as well as home buyers, developers can get full surety that all their units will sell out & get the enough funds to construct flats and buyers can hold their units with only small booking amount without any fear of delayed project.
Possession linked Plan boosts buyer confidence at a time when income is increasing at a modest speed and home loans are also not affordable by many investors. It considerably reduces home purchase costs and expands substantial savings to property investors.
Tip to Remember
Even in spite of everything the advantages and attractions there is a catch to this plan. The investors must always read the papers carefully as a little carelessness can be very dangerous. Apart from this, the consumer must also bear in mind not to fall prey to all these eye-catching offers without knowing the fine prints. So whether the scheme is a trap or treats totally depends upon the knowledge of the investor.