E-commerce platform Snapdeal, has partnered with real estate developers Puravankar Projects, and JLL India, a property consultancy firm, to sell apartments on its platform under the Managed Residences Plan. The bookings for the Managed Residences Plan will be open exclusively on Snapdeal for 10 days, starting tomorrow, 27 May and about 200 ready-to-occupy residential properties will be offered in the inaugural phase of its launch. The investment sizes range from Rs 35 lakhs to Rs 3.5 Crores and allotment of units will be on a first come first serve basis. The plan will allow prospective purchasers to place an Expression of Interest online, along with a nominal reservation amount, after which the developer’s representative will assist them in choosing a unit. The company has also announced that people who book online during this inaugural period shall also be eligible to receive Rs 25,000 Snapdeal Purchase Voucher. Highlights The three-way partnership between Snapdeal, Puravankara and JLL India will enable customers to purchase a ready-to-occupy apartment from Puravankara across Bangalore, Chennai, Coimbatore & Kochi and lease it back Puravankara for a contracted term of 7 years. As a part of the contract, Puravankara will secure pre-agreed monthly rentals to the customer and pay the common area maintenance amount to the Building Association. This will enable the purchaser to have uninterrupted rental returns for 7 years, along with an additional rental appreciation benefit of 8.0% every year. The company has also informed that Purchasers will have the option of premature withdrawal from the lease agreement,…
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