The variety of offerings from different builders can make comparison difficult. "Focus on offerings that add to the property's value and/or reduce the cost of ownership," says Anuj Puri, president of Anarock Property Consultants. “To compare offers from different builders, use the criterion of 'the amount of net reduction in payment and reduce it to one number',” says Shishir Baijal, CMD, Knight Frank India. To get to the real impact on a single number, you need to know how each of these offerings works. For example, offers like exemption from stamp duty, registration fee, GST, etc. They are simple savings that can be easily calculated. Free parking, floor height fee waivers, etc. It can also lead to significant savings and will apply to everyone.
The next round of gifts such as kitchen units, air conditioning, furniture, etc. It will be useful for some people only. Also, the brands or quality offered by the builders may not be of your choice. So if what they're offering you isn't what you like, try negotiating a lower price. Likewise, outside offers like a car, gold coin, holidays, etc. It will be useful for a very small section. Rent-free even tenure housing may be beneficial to those who live on the rent and not to someone who resides in their home
Beware of flexible payment options like booking with a small amount (5%, 10%, etc.), paying the balance acquired, etc. It's okay if this offer comes directly from the originator and not through another funding agency. "Homebuyers should consult directly with funding agencies to understand their true impact on them," says Samantak Das, Executive Director and Head of Research, Real Estate Intelligence Services, JLL India.
Offers to provide low-interest home loans with no equal monthly installments for the next few years, etc. In this case, the funding agency is not giving you a loan at a lower rate. “Buyers should ensure that builders have the ability and will to pay the promised interest. It is better for builders to pay part of the grant upfront rather than at a later date. Any default on the constructor’s part will affect the credit rating,” Renu Sud Karnad, MD, HDFC says. For home buyers. " Also Read: Keys for avoiding Home Loan Mistakes