yes you heard it right Manjeera Constructions provides rental assurance scheme on residential flats for the first time in Vijayawada.
The Rental Assistance Program helps families with cash assistance to help with their monthly rent payments and savings.
The Scheme States
During the time of booking the customer has to pay minimum 65% of the total flat cost either through own source or with the help of housing loan. On successful down payment of 65% and execution of agreement, the customer is entitled to get a 100% monthly rental till possession. This scheme is applicable for only 2 BHK flats in Satavahana, Pallava and Chola blocks of Manjeera Monarch and only for limited period / limited flats / first come – first serve basis.
In Brief :
To be eligible for the scheme customer has to make a minimum payment of 65% of the flat cost which includes his own contribution + home loan. This 65% of the payment is derived as per the construction progress.
The monthly rental cycle will start from the date Manjeera Constructions Ltd receives a minimum of 65% payment which may or may not be the date of booking.
Customer opting for the bank loan should consider the time taken by banks to process his loans and releases the 1 st disbursement of the loan.
In addition they are also entitled for Nil Pre EMI offer for the balance 30% of the Agreement of Sale Value which will be payable by the banks as per the progress of construction.