'Builders cannot pay EMIs on behalf of buyers'

The developers will no longer be able to incentivise buyers by paying the latter’s home loan EMIs. The National Housing Bank has asked mortgage companies to desist from offering loan products that involve servicing of the dues by builders, developers, etc, on behalf of the borrowers. The circular is expected to cut off one of the cheaper sources of funds for builders.

from Times of India https://ift.tt/2GplUZA