Ahmedabad: With housing sales in Gujarat’s biggest city experiencing slow growth, developers are offering innovative payment solutions to stimulate sales. The new initiatives include ultra-low booking amounts and stretched payment schedules, industry sources report.Several builders have introduced schemes allowing homebuyers to secure properties with down payments as low as 1%. Others are implementing 10:90 and 20:80 payment plans, where buyers pay only 10-20% upfront, and the balance at possession. Sweetening the deal further, some are also offering interest subvention where they pay the interest on the buyer’s home loan until possession.Sources in the real estate sector say the demand is weak due to a liquidity crisis. Rajesh Bambharolia, a builder with an upcoming 2 and 3BHK apartments project near the Tragad area, said, “The demand has been sluggish for some months. We are offering a plan wherein a buyer can book a 2BHK apartment by paying Rs 5.51 lakh and a 3BHK with Rs 7.51 lakh, with the remaining payable at possession.” Bambharolia added, “We believe there is demand, but people lack the funds to pay the high booking amount. Also, most looking to buy a 2BHK may be living in rented houses and cannot afford to pay any EMI until possession. Flexible payment provides relief to such buyers. We will see less profit, but bookings will help us improve sentiment.”Ravi Brahmbhatt, a developer with projects in Gandhinagar, said, “People invest significantly in the stock market, and on the other hand, property prices have increased substantially after Covid, directly affecting buying capacity. We have offered a plan where buyers can book paying 40% of the price and the remaining 60% at possession.”Rajesh Vasvani, director of Credai Gujarat, said, “Payment flexibility resolves the client’s money crisis issue. One can fulfil their dream of buying a house without having to pay a large sum upfront, and it also increases bookings for developers. Some developers are even taking bookings with just 1% of the price.” Chitrak Shah, chairman of Credai Ahmedabad, said, “Many developers have started offering flexible payments, while many are planning to. Some developers are contemplating interest subvention, under which they will pay the housing loan’s interest until possession.”