Bangalore, Oct 17 (UNI) In an innovative exchange offer launched by city-based Real Estate developer, one can exchange his apartment for a villa by paying the difference amount.
A unique innovative exchange offer, claimed to be first-of-its- kind in the country, has been launched by the Bangalore-based Alliance Group that had over Rs 5,000 crore worth projects.
Under the scheme, an apartment owner is offered the opportunity to upgrade to a villa by selling his property and investing its proceeds in an El Dorado Park Luxury Villa, near the Electronic City.
The process begins with the apartment owner paying a booking amount of Rs five lakh for a villa.
Then Alliance values the apartment that was being offered in exchange. An agreement on the price of the apartment is then arrived between Alliance and the customer.
Thereafter, Alliance purchases the apartment and takes the value of the apartment towards the value of the villa.
The customer then avails of the ADF (Advance Disbursement Facility) that had been worked out by the developer with leading banks for the purchase of the villa.
Stating 'It's a win-win for both the customer and Alliance,' Alliance Group CMD Manoj Namburu said the exchange offer has evoked tremendous response, particularly from those who have bought apartments mainly for investment.
The buyer gets to invest in an upmarket villa that appreciates faster than an apartment. Also those who wish to move up and live in luxury lifestyle villas within a big gated community find this offer very attractive, he claimed.
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