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Mumbai-based developer Chandak Group has launched a limited-period homebuying scheme across five of its residential projects in the city to coincide with the Gudi Padwa festival and the company's 40th year of operations. The initiative introduces a 40:60 developer subvention structure under which buyers pay 40% of the property value upfront while the remaining 60% is deferred until possession. The offer applies to projects located in Chembur East, Vile Parle West, Andheri East, Malad West and Borivali East and will remain valid until March 31, 2026, after which the effective prices of residences in these developments are scheduled to increase from April 1. The scheme is aimed at improving affordability and easing near-term financial commitments for homebuyers considering premium residences in Mumbai's established residential micro-markets.
Chandak Group has introduced a developer subvention scheme across five of its residential projects in Mumbai to coincide with the Gudi Padwa festival, offering a payment structure that allows homebuyers to defer a portion of the property cost until possession. Advertisement
The Mumbai-based developer announced earlier this week that the limited-period initiative will be available until March 31, 2026. Under the offer, buyers are required to pay 40% of the property value at the time of purchase, while the remaining 60% can be deferred under a developer-supported subvention structure until the project reaches possession stage.
The scheme has been introduced across five of the developer's residential projects located in different parts of Mumbai. These include Chandak Highscape City in Chembur East, Chandak Vansham in Vile Parle West, Chandak Sarvam in Andheri East, Chandak Treesourus in Malad West and Chandak Greenairy in Borivali East.
According to the company, the projects offer residential units ranging from one-bedroom to four-bedroom configurations and are located in established residential micro-markets with access to transport infrastructure and social amenities. The developments are positioned as premium housing projects designed to cater to both end-users and investors seeking residential assets within the city.
The developer stated that the payment structure is intended to reduce the immediate financial commitment required from buyers by allowing them to defer a portion of the payment during the construction period. Under developer subvention schemes, the builder typically supports interest payments during the deferred period, enabling buyers to manage their cash flows until possession.
The company indicated that the initiative forms part of its broader efforts to attract homebuyers during the festive period, which traditionally sees increased residential sales activity across India's property markets.
A spokesperson from Chandak Group said the Gudi Padwa festival symbolises new beginnings and that the company aimed to align the festive season with an opportunity for prospective buyers to enter the housing market with a flexible payment structure. The spokesperson added that the scheme also marks the developer's 40th year of operations in the Mumbai real estate market.
Chandak Group has been active in the city's residential development sector for several decades, undertaking projects across multiple micro-markets in Mumbai and its suburbs. The company stated that its portfolio has focused on residential developments designed with integrated amenities and contemporary architectural layouts.
The developer also indicated that the effective prices for residences in the participating projects are expected to be revised upward from April 1, 2026, after the festive offer period ends.
Industry participants note that payment-linked offers and subvention structures are periodically used by developers to stimulate housing demand during festive periods, particularly in urban markets where homebuyers may seek financial flexibility when purchasing under-construction residential properties.
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