Name of Scheme: Byaj Mukt Awas Yojna BMAY (Interest Free Home Scheme) 2016 of EPR (Equal Principal Repayment)
Projects and Location: Supertech Eco village I,II,III,IV (Noida Extension), Supertech Capetown (Sector-74, Noida), Supertech Azalia (Sector-68, Gurgaon).
The scheme is lucrative as the buyer is given a choice of paying the cost of the home loan taken for the flats without any interest as EMI’s for 100 months. The arrangement is supposedly done with IndiaBulls wherein the buyer needs to pay only the principal installments and there is no interest component if the loan repayment is done within 100 months ie. around 8 years. BMAY is an interest-free home scheme wherein you only have to pay the actual price of the property (minus 10% down payment) in 100 equated installments known as EPR (Equal Principal Repayment).