1. Booking Amount:
• A percentage of the total price (commonly around 10-20%) is required as a booking amount to secure the unit. This amount is usually non-refundable.
2. Confirmation Payment:
• After the booking, a confirmation payment may be required, typically around 10-15% of the total price, to confirm the booking and initiate the processing of the sale.
3. Installments:
• The remaining amount is usually divided into several installments. These installments can be structured in various ways:
• Monthly : Payments made monthly over a specified period (e.g., 1-3 years).
• Quarterly : Payments made every three months.
• Biannual : Payments made every six months.
• The number of installments and their amounts can vary based on the total price of the unit and the project’s timeline.
4. Possession Payment:
• A significant portion of the total price (often around 20-30%) is due upon possession of the unit. This payment is made when the buyer is handed over the keys and can take physical possession of the property.
5. Additional Costs:
• Utility Connection Fees: Charges for connecting utilities like water, electricity, and gas.
• Maintenance Charges: Some projects may require an upfront payment for maintenance fees.
• Stamp Duty and Registration Fees: These are government-imposed fees that must be paid at the time of property registration.
6. Discounts and Incentives:
• Developers may offer discounts for early payments or for buyers who pay a larger percentage upfront. It’s worth inquiring about any promotional offers.
Example Payment Plan (Hypothetical)
• Total Price of Unit: PKR 10,000,000
• Booking Amount (10%): PKR 1,000,000
• Confirmation Payment (10%): PKR 1,000,000
• Installments (12 Monthly Installments of 5%): PKR 500,000 each month
• Possession Payment (20%): PKR 2,000,000
Important Considerations
• Flexibility: Some developers may offer flexible payment plans tailored to the buyer’s financial situation.
• Legal Documentation: Ensure that all payment terms are documented in the sale agreement to avoid any misunderstandings.
• Market Conditions: Payment plans may be subject to change based on market conditions, so it’s essential to stay updated.
Conclusion
For the most accurate and detailed payment plan for Amanah Residential Towers, it is recommended to contact the developer or visit their official website. They will provide the latest information, including any promotional offers, financing options, and specific terms related to the project. Always conduct thorough due diligence before making any investment decisions in real estate.
