In a move aimed at boosting homebuyer confidence and increasing sales, several real estate developers are bringing back flexible payment plans, including the popular “Pay 5% Now, Rest on Completion” scheme. With market dynamics shifting and buyer affordability playing a crucial role, developers are looking at innovative ways to ease financial strain and make home ownership more accessible.
Developers Revive Flexible Payment Plans
Among the recent examples of this trend is a new payment plan introduced at Chandak Highscape City in Chembur (E), Mumbai. The Chandak Group has announced a scheme allowing buyers to secure a home with just a 5% initial payment, with the remaining balance payable upon terrace slab completion.
Located in Chembur, a rapidly developing hub known for its excellent connectivity and infrastructure, the project features 1, 2, and 3 BHK apartments along with over 45 amenities designed to enhance urban living. A spokesperson from Chandak Group highlighted the reasoning behind the scheme, stating, “At Chandak Group, we understand the aspirations of homebuyers and aim to make homeownership more accessible. This payment plan ensures minimal financial burden initially while allowing buyers to plan their investments smartly.”
A Growing Trend in the Real Estate Market
The revival of such payment schemes isn’t limited to a single project. Many developers across India are reintroducing flexible payment plans to encourage property purchases amid evolving economic conditions. Traditionally, buyers were expected to make substantial down payments and follow a construction-linked payment structure, which often led to financial strain. By allowing buyers to defer payments until the completion of key construction milestones, builders are making homeownership a more viable option.
Real estate analysts predict that more developers will adopt this approach in the coming months, especially in cities like Mumbai, Pune, Bengaluru, and Delhi-NCR, where high property prices often pose a challenge for buyers. The move aligns with the market’s demand for greater affordability and investment-friendly schemes.
Benefits for Homebuyers
The “Pay 5% Now, Rest on Completion” scheme offers multiple advantages:
- Reduced Initial Financial Burden – Homebuyers can secure a property with a minimal upfront payment, allowing them to plan their finances better.
- Increased Affordability – Buyers who may have been hesitant due to high initial costs can now enter the market.
- Lower Risk – Payments being tied to construction milestones provide reassurance that funds are being utilized as per progress.
- Better Investment Opportunities – Such schemes attract investors looking for lucrative returns without immediate financial commitment.
Future Outlook
With homebuyer sentiment improving and demand for housing steadily rising, developers are expected to continue offering such attractive payment plans. As economic uncertainties persist, initiatives like these provide a much-needed boost to the real estate sector, fostering confidence among buyers and stimulating property sales.
For those looking to invest in Mumbai’s premium real estate market, flexible payment plans like these could offer an accessible entry point. With increasing interest in buyer-friendly schemes, the return of “Pay 5% Now, Rest on Completion” offers signals a buyer-centric shift in India’s real estate landscape.
SFI Analysis
The resurgence of flexible payment schemes reflects the evolving dynamics of India’s real estate sector. While these plans help developers attract buyers in a competitive market, they also provide significant advantages for homebuyers, especially first-time investors and middle-income families. However, buyers must assess project credibility, developer track record, and financial planning before committing to such schemes.
Additionally, while deferred payment models make homeownership more accessible, they may pose risks for developers, particularly in times of economic downturn. Ensuring robust financial planning and regulatory safeguards will be essential to sustain the effectiveness of these offers. Overall, the trend signals a positive shift towards a more inclusive and buyer-friendly real estate market in India.