EMI During Construction is an important topic for all the homebuyers who are planning to purchase an under-construction apartment at Purva Northern Lights . Many buyers prefer such payment options because they help manage monthly expenses while the home is still being built.
Purva Northern Lights is a premium residential project by Puravankara Group in North Bangalore. Like most large developments, the project follows a construction-linked payment structure. This means payments are spread across different stages of construction instead of being paid all at once.
When you buy an under-construction home, the bank does not release the full loan amount immediately. Instead, it pays the builder in stages. During this period, buyers usually pay only the interest on the amount already given to the builder. This payment is often called Pre-EMI or under-construction EMI.
The main benefit of this system is lower monthly outflow in the early years. Since you are not paying the full loan yet, the interest is calculated only on the released portion which helps buyers to manage rent and EMI both at the same time.
The exact payment structure depends on the builder’s plan and the bank’s loan policy. Some plans may require a small down payment, followed by staged payments linked to construction milestones.
The Pre-EMI is paid while the apartment is under construction. During this phase, you pay only the interest on the amount disbursed by the bank. The loan principal remains unchanged. This keeps monthly payments low and manageable.
Full EMI starts after you receive possession of the apartment. At this stage, your payment includes both principal and interest. The EMI amount increases, but it also helps reduce the loan balance over time.
Many buyers prefer Pre-EMI because it gives financial breathing space during the construction phase. However, it is important to plan for the higher EMI after possession.
Builder payment plans play a key role in deciding how much you pay each month. At Purva Northern Lights, payments are usually linked to construction progress every time the bank releases a new portion of the loan, your interest payment increases slightly. This continues until most of the loan amount is disbursed.
This structured approach makes payments predictable and aligned with construction progress. It also ensures that buyers do not pay for unfinished work.
Before booking a home, it is always wise to speak with both the builder and your bank. The sales team at Purva Northern Lights can explain the current construction-linked payment plans and any ongoing offers. These details may change over time, so getting updated information is important.
Your bank will explain how loan disbursement works and how interest is calculated during construction. This helps you understand the total cost and plan your finances better. Later in the buying process, EMI During Construction becomes a deciding factor for many families balancing rent, savings, and future EMIs.
Buying an under-construction home at Purva Northern Lights can be a smart move when you understand how EMIs works during the building stage. Pre-EMI payments reduce early financial pressure and allow better planning.
24/7 Support
Free Site Visit
Unmatched Price