Nexworld Advance Payment Discount Scheme
Nexworld Advance Payment Discount Scheme
Want additional discounts on your purchased home at Nexworld?
Try Nexworld Advance Payment Discount Scheme
Make an advance payment for your home at Nexworld & earn a discount calculated at 9% simple interest on the milestone value that is due from the date of receipt to the tentative date of the milestone. The discount is adjusted primarily against three headings in other charges.
Interested?
How does it work?
STEP 1
Make an advance payment for your booked apartment of an amount of your choosing.
Get in touch with your relationship manager for making the payment.
STEP 2
The Customer Care Team will help you in understanding the discount that you will get based on your advance amount & payment due.
STEP 3
Earn a discount calculated at 9% simple interest per annum that is due from the date of receipt to the tentative date of the milestone. (Will start from the last milestone & keep going up till the total amount of demand milestones raised exceed the total amount paid under this scheme).
STEP 4
The discount accrued, is adjusted against 3 main headers in other charges: Development charges, Clubhouse membership, Electric Meter charges. Any further discount pending will be adjusted in the forthcoming milestones.
How does it work?
STEP 1
Make an advance payment for your booked apartment of an amount of your choosing.
Get in touch with your relationship manager for making the payment.
STEP 2
The Customer Care Team will help you in understanding the discount that you will get based on your advance amount & payment due.
STEP 3
Earn a discount calculated at 9% simple interest per annum that is due from the date of receipt to the tentative date of the milestone. (Will start from the last milestone & keep going up till the total amount of demand milestones raised exceed the total amount paid under this scheme).
STEP 4
The discount accrued, is adjusted against 3 main headers in other charges: Development charges, Clubhouse membership, Electric Meter charges. Any further discount pending will be adjusted in the forthcoming milestones.
Say you made an advance payment of 2Lac in May 2020 & your apartment gets it’s OC in May 2022, you’ll earn interest @9% for a period of 2 years on the advance payment amount of 2Lac amounting to 36000.
This means, when you are paying for the final milestone, you’ll be paying 2,36,000 (Principle+interest) less. So if the final milestone payment is 4,00,000, you’ll only be paying 1,64,000.
| Basic Construction Cost | 25,00,000 |
| Common Costs | 5,00,000 |
| Total Agreement Value | 30,00,000 |
| Amount Already Paid under pasts demands | 22,20,000 |
| Existing demands/interest | 0 |
| Balance that can be received under APDS | 7,80,000 |
| Receipt under Nexworld APDS | 7,80,000 |
| Receipt Date | 30/07/202 |
| Milestones in reverse order | Tentative Date of Milestone | Demand % on agreement value | Demand (Excluding GST) | No of Days from Date of Receipt | Reducing Balance of APDS amount (Excluding GST) | Discount |
| On or Before Possession of the said premises for the Fit-outs being offered to purchaser | 31/12/21 | 7% | 2,10,000 | 519 | 5,70,000 | 26,874.247 |
| On Completion of Lift-Stair lobby,etc | 31/8/21 | 7% | 2,10,000 | 397 | 3,60,000 | 20,556.986 |
| On Completion of electrical/D&W/painting of Apartment | 30/6/21 | 8% | 2,40,000 | 335 | 1,20,000 | 19,824.658 |
| On Completion of the remaining upper Slab | 31/3/21 | 4% | 1,20,000 | 244 | 0 | 7,219.726 |
| Discount Amount | 74,475.616 |
Q1: What is the scheme?
The scheme pertains to providing a discount to customers who are willing to make payments partially or complete against their basic flat cost.
Q2: Who is eligible?
Any existing customer of Marathon Nexworld is eligible. Customers who have taken a loan can opt for this scheme subject to their banker’s approval.
Q3: What is the interest rate to calculate the discount?
Simple Interest of 9%
Q4: On which amount will the interest get calculated?
On the demand raised on the milestone (excluding taxes).
Q5: How is the discount getting calculated?
A simple interest of 9% calculated on the demand value of every milestone. Money received today till the tentative date of the milestone will be the number of days to calculate the discount.
Q6: When does the discount stop to accrue?
When the total amount of demand amounts (excluding taxes) raised exceed the total amount (excluding taxes) paid under this scheme.
Q7: How is the discount adjusted?
The discount is adjusted against 3 heading in other charges: Development charges, Clubhouse membership, Electric Meter charges. Any further discount pending to be adjusted will get adjusted in the milestones to be raised. We shall calculate and take an amount according to which you would not have to pay a single further rupee at the time of possession.
Q8: Will there be a further discount if there is a change in the date of milestone raised?
The discount calculation once accepted by the customer will be final and there will be no further changes to the discount if the milestone dates differ from the tentative milestone dates mentioned in the calculation.
Q9: Can I consider the tentative dates of milestones as final?
No. These are tentative dates as per our experience, but not final. You will in no circumstances be allowed to hold these tentative dates of milestones as final against the actual milestone dates. We assure to give possession as per the timeline mentioned in the RERA registration of the respective Marathon Nexworld Phase.
Any principle amount that is currently due shall be adjusted against the above payment made and all interest calculations will be done on the balance due amount.
GST to be paid is separate.
Interested in additional discount on your home?
Interested in additional discount on your home?
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