India's property market continues to struggle with inventory piling up amid slow demand and in its wake players in the domain are keen to get away with their bulging line-up and hence have rolled out 'buy now pay later scheme' even for ready-to-move-in homes. Using the scheme, buyers will be able to own a residential premise by making some down-payment and can begin paying the equated monthly installments towards their purchase after a year or two.

Earlier the easy payment option of 'buy now pay later' was available only for under-construction projects but to spur buying of unsold inventory, the scheme has even been made applicable for completed projects.

Usually projects that cater to high-end homes are offering these schemes selectively in top Indian cities but the easy payment option is more commonly offered by developers in Mumbai as it happens to be the least affordable when it comes to home buying plus the city has seen the steepest increase in unsold inventory this year.

These schemes are also being promoted by realty developers who reiterate that occupancy certificate for the given housing project has been secured and no GST applies.
Interestingly, in the last few years, home buyers have given a preference to ready-made projects as it comes with no execution or delay risks.

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