It’s all very well to exhort developers to cut their prices to push sales, but this is still a very incomplete narrative presenting only half of the story.
Tag: Subvention Schemes
- Only 7,620 units in 23 projects had subvention schemes – a mere 11% of the total 69,000 units launched across top cities
- Leading developers with sound financial backing outnumbered smaller players in taking a hit from NHB’s recent curb on subvention schemes
- MMR topped the list with 17 projects, followed by Bangalore with 4 projects and 1 each in NCR & Pune
- No projects in Kolkata, Hyderabad & Chennai offered any subvention schemes
- 5:90:5 was the most common scheme on offer to homebuyers
Mumbai, 19th August 2019: The National Housing Board’s (NHB) recent directive to housing finance companies to refrain from giving loans under subvention schemes was not as crippling as was initially assumed.
ANAROCK research reveals that out of the total 280 projects launched in the April-June quarter of 2019, only about 23 projects (or 8%) were marketed under subvention schemes. These 23 projects comprised of 7,620 units – about 11% of the total 69,000 units launched in the quarter.
Anuj Puri, Chairman – ANAROCK Property Consultants says,