Are you struggling to get timely possession of your dream house? Your wait is finally over. You are now one step towards your dream house. Since you will get the benefit of getting an interest of 10.9 % annually .This will help in both ways to the customers and builders and they will able to save their energy and money as well as resources which will help further add to liberalization of the country. This major step act as a bliss for customers who are continuously struggling to get the true value of their hard earned money which they have invested in various projects by keeping the trust in realtors. This step taken by government of India will help in following ways:
- Avoid Delays in Possession on the part of developers: As it puts pressure on the mind of developers to provide its possession within the stipulated time. Normally developers in recent times are failing to provide the possession of the properties by giving the grace period of six to twelve months to the customers as they are either not able to complete either the basic amenities due to the shortage of money and other useful resources which add buyer’s woes.
- Freedom of Delayed payment by many buyers: Since it will also lessen the burden of the developer in getting delayed payments by many buyers who are failing to provide the monthly EMI’s on time. With these EMI’s only developers will able to give a true form to your dream house or in other ways use the money as resource to build the flats within the time frame.
- Adds to the comfort and satisfaction of the customers: When the customers are getting their possession of properties on time then only they will feel the comfort, happiness and really satisfied to get the fruit of the hard earned money. That satisfaction will go a long way in helping further the developers to get more references and popularity among the clients. With more and more clients interested in any real estate company provide boom to that company sales and profit.
- Adds to the liberalization of the economy of the Country: This major step taken by Government of India to levy an interest of 10.9 % annually both on the developers and buyers which will adds to the economy of the country since more and more real estate companies are increasing day by day. If developers are able to deliver their projects on time only then people will trust them to invest their hard earned money and that leads to the vast growing economy thus leading towards healthy society and further to the liberalization of the country.