KOLKATA: Thanks to the subsidies and tie-ups with financial institutions, builders are now taking women customers seriously, and extending them a series of offers.
Along with price subsidies, Kolkata-based BGA Realtors has reduced the booking amount from Rs 20,000 to Rs 10,000 for the whole of March. All the BGA `Amrita’ projects are available under the scheme.
BGA realtor known for their affordable housing is offering up to Rs 2.20 lakh subsidy on a home loan of Rs 6 lakh for a period of 15 years, disbursed through Micro Housing Finance Corporation Ltd, especially for the women buyers.
To avail the benefits of Credit Linked Subsidy Scheme, the woman buyer who does not have any registered property in the country will also need a bank account and Aadhar card. There will be no processing fee charged for these units. The EMI that would start post possession of these units wouldn’t exceed Rs 4,807. All that the buyers would have to pay for a 1BHK unit priced at Rs 6.84 lakh is a downpayment of Rs 80,000,” said Rajib Ghose, managing partner, BGA Realtors. Micro Housing Finance Corporation Ltd (MHFC) disbursed 350 such loans under the Credit Linked Subsidy Scheme since December 2015.
“Under the Credit Linked Subsidy Scheme, beneficiaries of economically weaker section (EWS) and low income group (LIG) seeking housing loans from banks, housing finance companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5% for a tenure of 15 years or during the tenure of loan, whichever is lower.
The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9%,” said Madhusudhan Menon, director, MHFC.
According to Menon, the scheme has been very popular since its launch. Alongside working with BGA, MHFC has disbursed similar loans to a handful buyers at Shapoorji Pallonji’s project Shukhobrishti in Kolkata after forwarding such facilities at several projects in Tata Housing‘s projects in Mumbai and various PPP projects in Gujarat and Rajasthan. Popular builders like Tata Housing through a tie-up with the SBI is helping women buyers, who would require to pay just 20% of the agreement value, while the balance can be paid on taking possession of the property.
Credits ET Realty