Payment Terms for Buyers

At SFS Realities, Developers & Builders, a part of the S Four Solutions Group of Organisations, we are committed to providing our clients with transparent, flexible, and professional payment options that ensure a smooth and secure experience when investing in their future properties. Established in 1985, our long-standing reputation is built on trust, integrity, and superior service. Below are the key aspects of our payment terms for buyers across various categories and levels in different locations.

1. Working Style

Our payment processes are structured to offer convenience while ensuring compliance with legal and financial standards. We work closely with buyers to customize payment schedules based on the type of property—whether it’s a new residential development, commercial project, or institutional property.

2. Payment Stages

We have developed a step-by-step payment approach to give buyers a clear understanding of their financial commitments. The payment plan typically involves the following stages:

Booking Amount: At the time of booking, buyers are required to pay a nominal deposit to secure their property.
Agreement Stage: Upon signing the Sale Agreement, a certain percentage of the total property cost must be paid. This amount can range from 10% to 20%, depending on the type and location of the property.
Construction Linked Installments: For properties under development, payments will be linked to the completion of various construction milestones, such as foundation completion, structure completion, and so on.
Final Payment: The final payment, usually 10% of the total property cost, is required at the time of possession, ensuring that all legal documents are in place and the property is ready for handover.

3. Terms & Conditions

Our payment terms are designed to protect the interests of both the buyer and the developer. Here are the main terms:

Flexible Installment Plans: We offer flexible payment options to suit individual financial capabilities. Installments can be paid monthly, quarterly, or as per the progress of the construction.
Late Payment Charges: Delays in payments are subject to interest charges, as mentioned in the payment schedule.
Refund Policies: In the rare case of cancellation, the refund process will follow the terms outlined in the booking agreement. Cancellation charges may apply based on the project stage and local real estate laws.
Escrow Accounts: To ensure security, all payments are deposited in designated escrow accounts to be used solely for the completion of the specific project.

4. Professional Practices

We maintain the highest ethical standards throughout the entire payment process:

Transparency: Every financial transaction, from booking to possession, is documented in detail and shared with the buyer.
No Hidden Charges: All costs, including registration fees, legal charges, maintenance deposits, and any additional levies, are disclosed upfront.
Financial Assistance: For those seeking financing, we work with leading financial institutions and banks to help buyers secure competitive mortgage rates and home loans.

5. Stages of Payment

For buyers, the property purchase journey is broken into key stages, each associated with a set payment milestone:

Pre-Booking Consultation: Discussion of total cost, fees, and payment options.
Booking & Reservation Payment: Initial payment to confirm interest.
Sale Agreement Payment: Formalization of the purchase agreement with a percentage of the total cost.
Construction-Linked Payments: For under-construction properties, payments are tied to specific construction stages, ensuring buyer confidence.
Final Payment & Handover: Final payment and legal processing before possession handover.

6. Special Payment Plans

For large commercial developments or individual bungalow constructions, customized payment plans may be arranged:

Bespoke Payment Terms: Tailored payment schedules can be created for unique projects.
Deferred Payment Plans: For eligible clients, payments can be deferred until certain construction stages are met or based on income streams.

7. Legal and Documentation Process

We guide our buyers through the necessary legal formalities, ensuring all payments are made securely with legal validation. Documents like the Sale Agreement, title clearance, and payment receipts are provided at every stage.

8. Final Handover & Settlement

At the final stage, after full payment has been made, buyers will receive:

Possession Letter: The official document confirming the handover of the property.
Property Handover Documents: Complete legal ownership papers, including title deed and registration documents.
Final Payment Receipt: A detailed breakdown of the payment transactions made throughout the process.

9. Support & Assistance

Throughout the entire purchase and payment process, SFS Realities offers:

Dedicated Relationship Manager: A point of contact for all payment-related queries.
Post-Sale Support: Assistance in clearing any final dues or documentation to ensure a hassle-free possession experience.

By adopting these well-structured payment processes, SFS Realities, Developers & Builders ensures that every buyer feels confident and well-supported in their real estate journey. Transparency, security, and professionalism are at the core of our payment terms, and we take pride in delivering excellence at every step.