Lost Your Job? Don't Worry, Your EMIs Will Be Paid

The downturn could be a blessing for home buyers in Pune. Developers in Pune, in a desperate measure to offload flats, are offering sops and slashing prices further. They have also come up with incredible schemes like:
(i)Buy a flat now and the builder will pay the EMIs for three months if you lose your job, and, till you find another job, he will pay the interest on your home loans.

(ii) Buy now and, if rates drop before you take possession, your builder will revise the price.

Besides that, realty prices in the city, which have already been slashed by up to 40 percent, are also set to be cut further as developers try and recover some of the money stuck in various projects. The Confederation of Real Estate Developers Association of India (CREDAI)has also asked builders to sell "at the lowest rates possible". The situation is definitely good for buyers but worse for builders.
18 Feb 2009 Hindustan Times