Installment plans let you buy a plot, house or flat with a down payment and the rest spread over months or years. They are a good way in — but only if you understand exactly what you're signing.
Read the whole schedule
A plan usually has more than the headline monthly figure:
- Down payment (booking amount) and sometimes a confirmation payment soon after.
- Monthly or quarterly installments.
- Balloon payments — larger amounts due every six months or a year.
- Possession charges and development charges, often due near the end.
Add them all up. The total is what the property really costs you.
Plot, file or allocation?
Ask what you are actually buying. A plot has a number and a place on the society's map. A file is a right to a plot that may be allotted later — cheaper, but the plot's location and timing aren't fixed. Matti lists files separately as Plot File so you can tell them apart.
Check the developer and the scheme
- Is the scheme approved by the development authority? Approved and illegal schemes are listed by authorities such as the LDA, CDA and RDA.
- What has the developer delivered before? Visit an older project of theirs.
- Is there development on the ground — roads, power, water — or only a site office?
Late payments and transfers
Find out the penalty for a late installment, whether the plan can be cancelled, and whether you can transfer the property before it's fully paid (and for what fee).
Compare with a loan
Sometimes a bank loan on a finished house works out better than an installment plan on an unfinished one. Our home loan calculator shows the monthly cost of a loan in seconds.
On Matti, tick On installments in search to see properties sold on payment plans.
