Home / Money / Personal Finance /  Home loan at 3.99%: Tata Housing offers new scheme for homebuyers. Details here

Tata Housing has unveiled 'Wow is Now' scheme for homebuyers ahead of the festive season. Under the scheme, the borrowers can pay 3.99% flat interest rate for one year and the rest would be borne by the company. The scheme is applicable to 10 projects until 20 November. The campaign is extended across 10 Tata Housing projects with ready-to-move-in (RTMI) and under construction properties across Mumbai, Bengaluru, Kochi, Delhi-NCR, and Kasauli.

The customers will receive a gift voucher ranging from 25,000 to 8 lakh depending on the property once they complete the payment of 10% and registration of property, the company said.

“The government and the RBI have demonstrated agility by announcing a slew of measures to uplift the real estate sector, like maintaining accommodative stance on repo rate, treatment of COVID-19 period as an event of force majeure and on-tap targeted long-term repo operations (TLTRO) of upto 1,00,000 crore," said Sanjay Dutt, managing director and chief executive officer, Tata Realty & Infrastructure.

“Introduced as an effort to boost demand among Indian homebuyers, the scheme will certainly provide financial relief to homebuyers and make owning a home more attractive for first-time buyers as well as investors. This campaign will allow our customers to own a home by paying just 3.99% interest rate, which is a very progressive step by the company," said Amit Parsuramka, senior vice president and chief sales and CRM officer, Tata Realty & Infrastructure Limited.

Kalpataru Ltd has launched a subvention scheme where the customer pays just 10% now and nothing for the next 2 years. It is also offering zero stamp duty burden for customers on select projects.

Anarock Chairman Anuj Puri advised that festive offers should be taken advantage of, especially if they result in savings on the overall cost of acquisition.

"Buying a home in one of life's most cost-intensive financial undertakings and any real relief on this front is a value-add. The two important provisos on a scheme or offer are that the property in question should itself have a sufficient desirability quotient and that the developer is reputed and known to deliver value," he said.

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