TVS Emerald Avalon Payment Plan
The TVS Emerald Avalon payment plan is a step-by-step payment schedule that starts with a 10% booking fee on homes starting at ₹1.2 Crore, connecting all future payments directly to real building work on the site under Tamil Nadu RERA rules. This system helps you plan your money safely for this 12.44-acre project with 1,035 homes in Zamin Pallavaram, South Chennai. The main payment route is a Construction-Linked Plan (CLP), which spreads your total cost across key stages like the foundation, floor slabs, wall brickwork, painting, and final key handover.
You pay the booking amount first. The next 10% is due within 30 to 45 days when you sign the sale agreement. The remaining 80% is paid in stages as construction moves forward. This step-by-step plan links payments to actual work and helps avoid paying large amounts before the work is done.
Detailed Construction-Linked Payment Plan (CLP)
A Construction-Linked Plan links each cash demand to real work done on the ground, so you only pay when an engineer confirms that a stage is complete. At TVS Emerald Avalon, the standard payment plan splits your total property cost across these clear project stages:
- Booking Advance (10%): You pay this token amount upfront to book and block your chosen flat.
- Agreement Signing (10%): You pay this within 30 to 45 days of booking when you sign the official sale agreement.
- Foundation Work (10%): Due only after the builders finish deep piling and lay the base concrete slab for your tower.
- Basement and Parking Deck (10%): Payable once the underground car parking levels and lower concrete decks are cast.
- Floor Slabs (30% split across levels): Split evenly as each floor goes up, usually coming to around 5% to 6% per floor level.
- Walls and Plastering (10%): Billed when workers finish laying room brick walls and complete inside cement plastering.
- Flooring, Pipes, and Painting (10%): Due when floor tiles, bathroom pipes, windows, and outer paint coats are finished.
- Key Handover (10%): You pay the final 10% balance right at the end when the building gets its final occupancy certificate.
Flexible Payment Alternatives: Time-Linked vs. Flexi Schemes
Different buyers have different cash flows, so builders often offer alternative payment setups that change when your money leaves your hands.
Time-Linked Payment Plans (TLP)
Time-linked plans ask for money on set calendar dates no matter how much real work is done on the site. While builders sometimes give a small price cut for this option, it brings extra risk because you still have to pay even if monsoon rains or supply delays slow down the work.
Subsidized Pre-EMI & Flexi Plans
During festival launches, the developer may roll out flexi-schemes like a 20:80 or 25:75 offer:
- Upfront Payment: You put down 10% to 20% of the flat cost from your own pocket as personal savings.
- Bank Share: Your bank sanctions the rest of the loan and pays the builder in parts as work moves ahead.
- Interest Relief: In select promotional plans, the builder pays your monthly loan interest until a set construction stage, saving you from double spending on rent and home loans at the same time.
Total Cost of Ownership: Mandatory Taxes and Additional Charges
The total amount you spend on a flat at TVS Emerald Avalon includes government taxes and basic service setup fees added on top of the Base Sale Price (BSP).
| Cost Head | Expected Rate / Fee | What It Covers |
|---|---|---|
| Base Flat Cost (BSP) | Starts at ₹1.2 Cr | Pays for your flat's carpet area and your share of the land. |
| GST | 5% flat rate | Central and state sales tax on homes that are still under construction. |
| Stamp Duty & Registration | 7% Stamp Duty + 2% Registration | Mandatory Tamil Nadu state fees to register the flat deed in your name. |
| Power & Water Setup Fees | ₹200 to ₹350 per sq. ft. | Pays for your EB power connection, water supply lines, and backup power. |
| Car Parking Space | ₹3,00,000 to ₹5,00,000 | Reserves one dedicated covered car parking slot in the stilt or basement. |
| Maintenance & Sinking Fund | ₹50 to ₹100 per sq. ft. | Sinking corpus fund plus advance maintenance to keep the building clean. |
Bank Tie-Ups, Home Loan Eligibility & Disbursement Process
TVS Emerald Avalon has full loan clearance from major Indian lenders, including SBI, HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank. Because these lenders have already checked the land title papers, your personal loan approval moves through much faster.
- Loan Amount Limits: Salaried buyers with clean credit records can usually get 75% to 80% of the property value funded through a bank loan.
- Three-Way Agreement: You, the bank manager, and the TVS Emerald team sign a standard tripartite deal before any loan money moves.
- On-Site Checks: Bank engineers visit the Pallavaram site to check the actual roof slabs and walls in person before sending each payment tranche to the builder.
FAQs
The initial booking deposit is usually ₹2,00,000 or up to 10% of the total flat cost, which locks your chosen apartment before you sign the main agreement.
Yes, every stage follows Tamil Nadu RERA rules, which state that a builder cannot ask for more than 10% of the cost before signing and registering the official sale agreement.
A Construction-Linked Plan protects your funds because you and your bank only release money after an engineer proves that a specific roof slab or wall stage is fully built on-site.
No, the starting rate of ₹1.2 Crore is only the base flat cost; you must pay the 5% GST, the 9% state stamp duty and registration fees, and utility fees separately.
Yes, Non-Resident Indians can get bank loans for up to 75% to 80% of the home cost through approved banks by showing standard NRE or NRO bank records, salary slips, and a power of attorney.
