Payment Options for First-Time Home Buyers

Author : Mahendra Homes | Published On : 10 Jul 2024

Purchasing your first home is a significant milestone, filled with excitement and anticipation. However, it also comes with the crucial decision of choosing the right payment option. For those considering buying their first home at Mahendra Arto Helix, one of the premier apartments in Electronic City, understanding the various payment options can help ease the financial planning process. Here’s a comprehensive guide to assist first-time home buyers in making an informed decision.

1. Home Loans

Home loans are the most common payment method for first-time buyers. Banks and financial institutions offer home loans with various interest rates and tenure options. When considering a home loan for your Mahendra Arto Helix apartment, here are a few aspects to keep in mind:

  • Interest Rates: Fixed vs. Floating rates. Fixed rates remain constant, while floating rates can vary with market conditions.
  • Loan Tenure: Longer tenures reduce monthly EMI but increase total interest outflow.
  • Prepayment Options: Check for any prepayment penalties or flexibility in making extra payments.

2. Down Payment

A down payment is the initial upfront portion of the total property cost. For apartments in Electronic City, like those at Mahendra Arto Helix, the down payment typically ranges from 10% to 25% of the property value. Higher down payments can reduce your loan burden and monthly EMIs. Saving for a substantial down payment is advisable, as it reflects financial stability to lenders.

3. Construction-Linked Plan

For under-construction properties, a construction-linked payment plan can be beneficial. Under this scheme, payments are made in phases based on the progress of construction. This plan is particularly suitable for Mahendra Arto Helix apartments, allowing buyers to align payments with the construction milestones, thereby easing the financial burden.

4. Flexi Payment Plan

The flexi payment plan is another viable option where the payment schedule is more relaxed. Typically, a portion of the payment is made during the initial stages, followed by regular installments, and a significant portion is paid at possession. This plan is beneficial for those who need more time to arrange funds or expect future cash inflows.

5. Subvention Scheme

Under the subvention scheme, the buyer pays a certain percentage upfront, and the developer bears the EMI interest cost for a specified period or until possession. This can significantly reduce the financial pressure on the buyer during the construction period. For Mahendra Arto Helix apartments, this scheme ensures that buyers do not have to worry about EMIs until they get possession of their homes.

6. No EMI Until Possession Scheme

In this scheme, buyers are not required to pay any EMIs until they take possession of the property. This can be an attractive option for first-time buyers who are currently paying rent or need time to manage their finances. For Mahendra Arto Helix, this scheme can make the transition to homeownership smoother and less stressful.

7. Affordable Housing Loans

For first-time buyers, the government offers various schemes under affordable housing initiatives. These schemes provide lower interest rates and subsidies, making home loans more affordable. Checking eligibility for such schemes can significantly reduce the financial burden.


Choosing the right payment option is crucial for first-time home buyers. At Mahendra Arto Helix, one of the most sought-after apartments in Electronic City, understanding these options can help you make an informed decision that aligns with your financial situation and long-term goals. Whether you opt for a traditional home loan, a construction-linked plan, or a subvention scheme, careful planning and consideration will pave the way to a smooth and successful home buying journey.