For those who earn a monthly salary of 50-60 thousand, property purchase can be a preferable investment. In this salary bracket, one can easily afford a property worth Rs 25 Lakh- 35 Lakh with the help of home loan.
It would be better to go for a newly launched or under construction property as the prices are low in these stages. Localities like NH-24 and Noida Extension (Greater Noida West) have many options in the budget of 25-35 lakhs.
For the projects in NH-24 and Greater Noida West, developers are also offering the Deferred Payment Scheme and Subvention Scheme. Deferred payment scheme is the 40:60 plan and usually for a project that is about to complete. You have to pay 40% on booking and the rest 60% on possession. Some builders also offer 40:30:30 plan where you have to pay 40% on booking, 30% on a later date (say on structure completion) and the rest 30% at the time of possession. [Read more…]