Chandak Group Launches 40:60 Subvention Scheme for Mumbai Homebuyers
Chandak Group, a prominent Mumbai-based developer, has introduced a developer subvention scheme across five of its residential projects in the city to coincide with the Gudi Padwa festival. This initiative offers a payment structure that allows homebuyers to defer a portion of the property cost until possession. The limited-period offer will be available until March 31, 2026.
Under the scheme, 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. This payment structure is designed to reduce the immediate financial commitment required from buyers by allowing them to defer a portion of the payment during the construction period.
The subvention scheme has been introduced across five of Chandak Group'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. These projects offer residential units ranging from one-bedroom to four-bedroom configurations and are situated in established residential micro-markets with access to transport infrastructure and social amenities.
Chandak Group positions these developments as premium housing projects designed to cater to both end-users and investors seeking residential assets within the city. The projects are known for their integrated amenities and contemporary architectural layouts, making them attractive options for homebuyers.
The payment structure under the subvention scheme is intended to help buyers manage their cash flows more effectively. During the deferred period, the builder typically supports interest payments, further easing the financial burden on homebuyers until the project is completed and possession is handed over.
The initiative forms part of Chandak Group's 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 that the Gudi Padwa festival symbolizes new beginnings, and the company aimed to align this festive season with an opportunity for prospective buyers to enter the housing market with a flexible payment structure.
This scheme also marks Chandak Group's 40th year of operations in the Mumbai real estate market. The company has been active in the city's residential development sector for several decades, undertaking projects across multiple micro-markets in Mumbai and its suburbs. Chandak Group's portfolio focuses on residential developments designed with integrated amenities and contemporary architectural layouts, ensuring a high standard of living for its residents.
The developer indicated that effective prices for residences in the participating projects are expected to be revised upward from April 1, 2026, after the festive offer period ends. This price revision underscores the company's commitment to providing attractive offers during the festive season.
Industry participants note that payment-linked offers and subvention structures are periodically used by developers to stimulate housing demand during festive periods. This is particularly relevant in urban markets where homebuyers may seek financial flexibility when purchasing under-construction residential properties. The subvention scheme by Chandak Group is a strategic move to tap into this demand and provide a compelling offer to potential homebuyers.
