Should i buy a property/flat on installments?
Suppose, a real estate firm approaches you to pitch for the sale of its upcoming “tower” apartments. The rates quoted by them for a 3-BHK is as follows: Payment Plan Plan-A 1140 sqft (126 sq.yards) Price: 27.50 Lacs Booking amount Rs. 7.5 Lacs S. No. Instalments Amount (Rs) 1 60 months × 30 thousand 1800000 2 1 Jan 2023 100000 3 1 Feb 2023 100000 Total 2000000 They are repeatedly stressing on the Price: 27.5 Lakhs and peripherals including the park, gym, cafeteria, community hall, prayer hall along with imaginary photos of the future facilities to distract you from the actual price. And of course, the friendly payment schedule . The question one must ask is “is the price of the flat really 27.5 Lakhs?” (the actual money you will pay them including the booking amount of 7.5 lakh, 60 installments of ₹30000 each and two in-betweeners of ₹100000). Or in other words, will that f