New Delhi, May 24 -- Some real estate developers market housing projects with offers such as "no EMI till possession" to attract homebuyers, particularly in under-construction properties. Though such schemes are less common now, these arrangements typically work in a way where buyers are not required to pay regular home loan EMIs until the property is ready for possession, even if the loan has already been been sanctioned and partially disbursed by the lender.

This provision is structured through an agreement between the developer, the buyer and the lender, where the developer pays the interest on the home loan taken by the customer until possession. The exact terms, duration and financial implications can vary across projects and lender...