There are three parties involved in the scheme – a lender, a developer and a homebuyer. The homebuyer books a flat by paying a sum of 5-20 per cent of the cost of the flat upfront. The rest is paid by the lender to the developer as the construction progresses or upfront, but as a loan to the buyer. The developer takes care of pre-equated monthly instalments (EMIs) for the time period as agreed in the agreement. #Subventionschemes #RealEstate #NirmalaSitharaman
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