Purva Heron Payment Plan

The Purva Heron payment plan is described as an indicative 10:80:10 construction-linked schedule. Around 10% is payable at the agreement stage, 80% is spread across construction milestones, and the final 10% is payable at possession. The construction portion is paid in instalments as work progresses, rather than as one large payment.

Purva Heron is a planned 7-acre apartment community in Mallasandra, off Tumkur Road in North-West Bengaluru. Indicative apartment prices range from ₹78 lakh to ₹2.99 crore, across 1, 2, 3 and 4 BHK homes. Launch is planned for December 2026, with possession targeted for December 2030. The project is at the pre-launch stage with RERA approval awaited; the final payment schedule will form part of the sale agreement.

Purva Heron 10:80:10 Payment Schedule

The proposed split divides the apartment payment into three broad parts. The first payment starts the agreement-stage contribution. Most of the balance follows construction, while a smaller part remains for handover.

The 80% construction share is the combined total of the milestone payments. It is not an extra amount above the apartment price. The three shares add up to 100%, before taxes and other applicable charges.

Purva Heron Instalment Amounts by Apartment Type

The table below applies the indicative 10:80:10 split to the published starting prices. It shows the broad cash amounts for each home type. The actual calculation will use the agreed price of the selected apartment.

These are illustrations based on indicative starting prices, not individual payment demands. Floor-rise, location premiums and other agreed charges may change the amount on which instalments are calculated. GST and statutory charges also need separate provision.

Purva Heron Booking Amount and EOI Adjustment

The pre-launch process includes an Expression of Interest, or EOI. Its amount and written refund terms are to be confirmed separately. The stated process provides for the EOI deposit to be adjusted towards the booking amount once the unit is confirmed.

An adjusted deposit should appear as a credit in the buyer’s payment statement. It should not be counted twice. For example, if the initial contribution is ₹13 lakh, any deposit credited towards that contribution reduces the balance still payable at that stage.

The EOI amount is different from the full agreement-stage contribution. Its receipt, adjustment and refund conditions need to be clear before it is treated as part of the purchase.

What Triggers a Construction-Linked Payment?

A construction-linked payment plan ties instalments to defined stages of work. These may cover excavation, foundations, structural slabs and finishing work. Purva Heron’s final schedule needs to identify the exact milestones and the percentage due at each one.

Each demand should show the relevant stage, amount due and payment deadline. The buyer can then match the demand with the agreement. The overall 80% figure does not establish how much is payable for a particular slab or finishing stage.

The planned four-year development period also does not mean 48 equal monthly instalments. Construction payments may fall closer together during some stages and farther apart during others.

Home Loans Under the Purva Heron Payment Plan

A home loan can fund part of the milestone payments, subject to the lender’s approval. The bank’s disbursement schedule and the builder’s payment schedule are separate documents. They need to work together so that a valid demand can be paid on time.

For construction purchases, lenders may release funds in stages rather than transfer the full sanctioned loan at once. SBI’s published loan terms, for example, link disbursement to documentation, statutory compliance and the level of construction accepted by the bank. This does not establish a confirmed SBI tie-up for Purva Heron.Loan interest is also separate from the builder’s instalments. Depending on the loan terms, interest or EMI payments may begin before possession. A construction-linked builder plan should not be read as an interest-free borrowing arrangement.

Does Paying 10% Mean Only 10% Own Funding Is Needed?

No. The initial 10% is a stage in the Purva Heron apartment payment schedule. It does not establish how much of the total price a bank will finance.

Consider a ₹1.30 crore apartment with an assumed 75% loan:

• Loan contribution: ₹97.50 lakh.
• Buyer’s contribution towards the price: ₹32.50 lakh.
• Initial 10% payment: ₹13 lakh, forming part of that buyer contribution.

In this example, the buyer still needs another ₹19.50 lakh towards the apartment price, apart from the initial ₹13 lakh. Taxes and other charges require additional funds. The actual loan amount will depend on eligibility, valuation and lender terms.

GST and Charges Outside the Instalment Split

The 10:80:10 calculation explains the apartment-price payments. It does not make the quoted starting price an all-inclusive cost. The cost sheet needs to list taxes, registration, deposits and any separate developer charges.

Under the applicable rules for new under-construction homes outside the affordable category, the effective GST rate is 5% without input tax credit. On an assumed taxable apartment value of ₹1.30 crore, that works out to ₹6.50 lakh. Any additional taxable charges can change the GST amount.

Stamp duty and registration are separate statutory payments. The final cost sheet should also identify any floor-rise, parking, clubhouse, utility, maintenance or corpus amounts and when each is due.

Payment Terms in the Sale Agreement

The sale agreement should state the instalment schedule, due dates and terms for delayed payment. It should also explain cancellation, refund and handover obligations. These terms determine how the broad 10:80:10 structure works for the selected unit.

Under Section 13 of RERA, a promoter cannot accept more than 10% of the apartment cost as an advance or application fee without first entering into a written agreement for sale and registering it. That rule does not replace the separate requirement for project registration.

FAQs