Real estate player House of Hiranandani is offering to pay the rent of its customers who book a flat at its high-end Egattur project in Chennai for 18 months after booking.
In addition, the customer will have to pay only 25% upfront at the time of booking, it said.
“The remaining 75% can be paid at the time of possession and in the interim we will pay rent to our customers,” House of Hiranandani said.
This is the latest offer from developers trying to revive interest in a slow real estate market.
Hiranandani said that with just 25% of total investment, buyers can enjoy capital appreciation on the entire price of the flat. In addition, the rent facility will add to their gains, it said.
“The offer provides capital appreciation to the buyers from the day of booking as they stand to save up to 5% on the total cost of the house. Under the scheme, House of Hiranandani will pay the rent to buyers for 18 months from the date of purchase. This will ensure that they save a significant part of the interest cost on their dream home,” it said.
The offer is valid on two of the most opulent towers of the project – Edina and Bayview.
“These are set to be landmark structures in the community having magnificent 3 BHK & 4 BHK apartments configured in an aesthetic manner to suit the potential home buyer’s myriad tastes and preferences. The homes in these towers are decked with a designer kitchen area, contemporary bathroom fittings, exclusive study/puja room and a separate maid room as well,” it said.
The Egattur project is spread over 120 acres and provides a holistic living experience for its consumers.
It is located on Old Mahabalipuram Road opposite the SIPCOT IT park. It also provides unrestricted views of the Bay of Bengal from the apartments that elevates the experience of living here. The project will have what the developer called a “world class education institution” and has a mix of indoor and outdoor sports facilities.