Every year during Ganesh Chaturthi, Mumbai’s real estate market sees renewed momentum. Over the past two years, developers, both big and small, have increasingly turned to flexible payment schemes such as Buy Now, Pay Later to lure homebuyers. With the onset of Ganesh Chaturthi 2025, the trend has resurfaced, as demand typically peaks during this auspicious period.

Real estate developers say flexible payment plans continue to dominate this Ganesh Chaturthi 2025, with 20–30% of buyers typically opting for these schemes when available. (Representational photo)(PC: Shutterstock)

Unlike earlier years, when developers wooed buyers with gold coins, free stamp duty, or foreign trips, freebies have largely disappeared this season. Instead, flexible payment plans continue to dominate. Developers say that typically 20–30% of buyers opt for these schemes when offered.

Industry experts caution, however, that such plans aren’t suited for everyone. For buyers relying on a home loan, Buy Now, Pay Later can increase overall financing costs. But for those partially self-funding and expecting liquidity in the near term, whether through a property sale or other sources, these schemes can offer much-needed breathing space, even if it comes at a slightly higher cost.

Flexi-payment schemes are popular with self-funded buyers

Salaried homebuyers, who typically depend on home loans, may not prioritise flexible payment schemes. In contrast, self-funded buyers or those liquidating investments often find part-payment options more advantageous, as they provide flexibility and allow them to capitalise on festive offers.

“Interestingly, while the actual uptake of such schemes is only about 20%, they continue to hold strong value, not just as a financing tool, but also as an attractive proposition that builds confidence and sustains market interest,” said Arpit Jain, director, Arkade Developers Limited.

“We are also witnessing a shift in homebuyer preferences, and today homebuyers value direct savings on the apartment more than complimentary giveaways. They prefer to channel these savings into personalising their home interiors. However, keeping an evolving mindset in focus, we have rolled out our initiative named ‘Your Home, Your Payment Plan’ across all our ongoing projects,” he said.

In Mumbai’s real estate market, developers are offering fewer freebies, but flexible payment plans remain popular. “We expect such schemes to continue through the ongoing 2025 festive season as well,” said Ritesh Mehta, Senior Director and Head (North & West), Residential Services and Developer Initiatives at JLL India.

Several Mumbai Metropolitan Region (MMR) developers, including Rustomjee Group, Hiranandani Group, Arkade Developers, Kalpataru Group, and Chandak Group, are offering flexible payment plans to potential homebuyers.

Should homebuyers opt for Buy Now, Pay Later offers?

According to real estate experts, flexible payment plans can be useful for some homebuyers but not for others, as they often lead to higher financing costs despite offering the benefit of delayed payments.

“In today’s market, no developer wants to lose a buyer. Whether large, mid-sized or small developers, most are willing to extend payment schemes if requested. That said, in our experience, only two or three out of every 10 homebuyers in Mumbai actually opt for such plans. For those taking a home loan, Buy Now, Pay Later or flexi-payment schemes typically increase the overall finance cost. However, for buyers who are partially self-funding and expect additional funds in the near future, whether through investments or the sale of an existing property, the option of deferring payments can be helpful, even if it comes at some extra cost,” a developer, who did not wish to be named, told HT.com.

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“Real estate developers still highlight these easy payment plans in advertisements and hoardings because they help grab attention, create market buzz, and generate leads. Additionally, it is also catering to those 20% for whom the easy payment plan offer is a financial tool to finance their home,” he said.

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