A very interesting concept – You get assured rent for fixed years once you invest in such property. Let’s dive in to the topic.
Puravankara’s Provident Housing came up with an innovative method to grow their business and give value to our investment.
Managed Residences Investment Plan (MRIP)
Puravankara, one of the top most real estate developers in India, believes in “We cannot really depend on our job alone if we want to achieve financial freedom. Creating and having multiple source of income is one of the best ways to step up the ladder and achieve our financial goals”.
Hence, came up with the solution, buy the ready-to-move in apartment with assured rent for seven years along with appreciation in rent.
Here are some quick points for more information.
- An innovative, low risk real estate investment to help you build a long term rental income.
- Investment structure – Buy & Sale back with a contracted lease term of 7 years.
- Puravankara’s MRIP offer provides long term lease management services from JLL, the leading international property consultant.
- Multi-city residential assets across Chennai, Bangalore, Coimbatore & Kochi.
- Investments across 3 Price buckets – approx. 35 to 55 lakhs ; 75 to 125 lakhs & 2.5 to 4 cr.
- Benefit from committed monthly rentals with annual rent escalations, long term capital appreciation, zero maintenance & hassle free process.
- All apartments offered under Puravankara’s MRIP offer are ready to move in apartments and are completed apartments/ completed projects.
Pros and Cons of Puravankara’s MRIP Offer :
- As the company believes, it is always better to have multiple investments and multiple sources of income. And hence, this is a best source of second income.
- Buying a home for rental purpose is a very common practice in India. Finding a tenant and getting assured income is most challenging. This offer encourages a hassle-free maintenance process for seven years by not only paying the rent but also maintenance charges.
- You just have to pay the property tax every year.
- Be careful while buying as the price under Puravankara’s MRIP offer is slightly higher than the price for the units with no offer.
- But if you are an NRI or retired employee or low risk taker, it is always best to invest.
- Go for Purvankara’s MRIP Offer, only if you can self-invest. Since, under this offer, the pricing of the unit is relatively higher, it doesn’t make the best option if you have to pay more interest to banks under home loan.
How Loanyantra Works :
Investing in a property is no small issue. And we understand it. So your search for home ends here. Think home loan and think loanyantra.
As we discussed above about managing homes, we, in loanyantra, manage your home loan. Call us for further queries about free services on home loan management.