(PTI) Tata Housing on Friday said that it will bear the interest burden on home loans beyond 3.5 per cent for 12 months for customers who buy flats in its nine projects.
The company has launched a campaign from August 5 to September 15, 2022 to offer this scheme.
Tata Housing, a 100 per cent subsidiary of Tata Sons Pvt Ltd, said in a statement it is "celebrating India's 75th Independence Day with an interesting offer where homebuyers can avail an interest rate of 3.50 per cent for 12 months on 9 projects of Tata Housing across 7 cities in the country."
The prospective homebuyers will also get other benefits such as up to 1 kg of customised silver coin with every booking.
The projects are spread across Mumbai, Goa, Delhi, NCR, Kasauli, Bengaluru and Chennai.
More than 2,000 channel partners have been roped in to amplify the reach of the campaign further.
Sanjay Dutt, MD & CEO, Tata Realty and Infrastructure Ltd, said: "Post the marginal rise in the repo rate, the home loan rates are on the rise which has impacted the home buying sentiment."
The past two years have been a great example of the positive impact of lower interest rates, resulting in a month-on-month historic residential real estate sales, he added.
"With the festive season being around the corner, initiatives like this offer will present lucrative home buying options to prospective customers," Dutt said.
The campaign will not only enable home buyers to invest in the residential real estate but also encourage the fence sitters to make the purchase decision, he added.
Tata Housing currently has more than 33 projects with a total development potential of over 51 million square feet spread across major cities in India, Sri Lanka and Maldives.