What’s a Subvention Scheme? Well, literally the word “Subvention” means “granting of money, especially by government”. In real estate the term “subvention” is used in a different context, however. Here when you decide to buy a home, you can book it by paying an initial payment & the bank pays the entire loan amount to the developer as per RBI guidelines.
Wave City gives their investors another reason to celebrate. This festive season, Wave City brings you a subvention scheme on its residential property units in Wave Executive Floors and Dream Homes. Now book your home here at Rs. 2 Lakh & don’t pay any amount for next 3 years.
Benefits you get by investing via a subvention scheme:
- When you opt for a subvention scheme you own a property without having to pay any interest till a stipulated time period or possession.
- The scheme is also known as 10:80:10 scheme as the buyer only has to pay 10% as the total cost initially.
- A subvention scheme is widely accepted and has a wider reach. It helps investors irrespective of their tax brackets.
- The buyer or the investor is not burdened by the EMIs during the construction period.
- The money that would have gone in an EMI can be saved and put elsewhere as support investment.
- During the subvention period the investor can reap benefits of the price appreciation.
- If the buyer or the investor is staying in a rented accommodation then there will be no monetary pressure of paying both EMIs and house rent.