Prestige Grove Park Payment Plan: Stage-Wise Schedule Explained

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Prestige Grove Park follows a 10:10:80 construction-linked payment plan. You pay 10% as the booking amount and another 10% when you sign the Agreement for Sale. You pay the other 80% in 8 instalments of 10% each, tied to set stages of work. The last instalment falls due at the Occupancy Certificate and handover, targeted for December 2031. This plan links your payments to real progress on site, which lowers your risk.

Payment Plan at a Glance


Stage Amount Due Milestone on Site
1 10% Booking amount to block your home
2 10% Start of work and signing of the Agreement for Sale
3 10% Site digging work complete
4 10% Plinth level complete
5 10% Basement slabs complete
6 10% Ground floor slab complete
7 10% Upper floor frame complete
8 10% Flooring inside the flat complete
9 10% Plumbing inside the flat complete
10 10% Occupancy Certificate and handover

Stage-Wise Amounts for Each Home Size


Each stage is 10% of the base price. This table shows what one stage costs for different homes at the pre-launch rate.

Home Base Price Each 10% Stage GST per Stage at 5% Total per Stage
2 BHK, 750 sq ft ₹2.55 Cr ₹25.50 lakh ₹1.28 lakh ₹26.78 lakh
2 BHK, 950 sq ft ₹3.23 Cr ₹32.30 lakh ₹1.62 lakh ₹33.92 lakh
3 BHK, 1,100 sq ft ₹3.74 Cr ₹37.40 lakh ₹1.87 lakh ₹39.27 lakh
3 BHK, 1,350 sq ft ₹4.59 Cr ₹45.90 lakh ₹2.30 lakh ₹48.20 lakh

You pay stamp duty and registration separately when you register the agreement.

What You Pay Upfront


In the first two stages, you pay 20% of the price plus GST. You also pay stamp duty and registration when you sign the agreement. Here is the total upfront outflow for the smallest 2 BHK.

Item Amount
Booking (10%) ₹25.50 lakh
Agreement Stage (10%) ₹25.50 lakh
GST on Both Stages ₹2.55 lakh
Stamp Duty at 6% ₹15.30 lakh
Registration Fee ₹30,000
Total Upfront About ₹69.15 lakh

Banks usually start funding once you register the agreement. So plan this upfront amount from your own savings.

How a Construction-Linked Plan Protects You


A construction-linked plan, or CLP, ties each payment to real work on site. You pay only when the builder reaches the next stage, which protects you in several ways.

  • Your money moves only as fast as the building rises.
  • You never pay for work that the builder has not finished.
  • Your bank releases your loan in the same stages, so you pay less interest early on.
  • If work slows, your payments slow down too.

Under MahaRERA, the builder must also put 70% of buyer money into a separate project account. This keeps your payments tied to your project.

How Your Home Loan Works with This Plan


With an 80% loan, you pay the first 20% from your savings. Your bank then pays the next eight stages as construction moves ahead. Each release covers 10% of the price, as long as your loan covers it.

During construction, you can choose to pay only interest on the amount released, called pre-EMI. Or you can start the full EMI from the first release to close your loan faster. Pick the option that fits your budget, especially if you also pay rent.

CLP vs Other Payment Plans


Plan Type How It Works Best For
Construction-Linked Plan Pay in stages as work moves ahead Most buyers, as risk stays low
Down Payment Plan Pay most of the price upfront for a discount Buyers with large savings
Subvention Plan Builder pays loan interest until possession Buyers who want no EMI during construction
Possession-Linked Plan Pay a large share at possession Buyers who want to delay payments

This project follows a construction-linked plan, so ask whether other options will open at launch.

Tips to Manage Your Payments


  • Keep 20% of the price plus stamp duty ready before you book.
  • Get your home loan approved before the agreement stage.
  • Track construction updates and MahaRERA progress reports each quarter.
  • Pay each demand on time to avoid late payment interest.
  • Keep every receipt and demand letter safe for tax and loan records.

FAQs


1. What is the payment plan for Prestige Grove Park?

Prestige Grove Park follows a 10:10:80 construction-linked payment plan. You pay 10% at booking, 10% at agreement and 80% over 8 stages up to handover.

2. What is the booking amount at Prestige Grove Park?

The booking amount is 10% of the home's price. For a ₹2.55 Cr 2 BHK, that is ₹25.50 lakh plus GST. For a ₹3.74 Cr 3 BHK, it is ₹37.40 lakh plus GST.

3. How much do you pay upfront for a 2 BHK at Prestige Grove Park?

For a ₹2.55 Cr 2 BHK, you pay about ₹69.15 lakh upfront. This covers the first two stages, GST, stamp duty and registration. Your bank funds the later stages if you take a loan.

4. Is the Prestige Grove Park payment plan construction-linked?

Yes, the plan links 80% of payments to set construction stages. You pay only when the builder reaches each stage. This keeps your money tied to real progress on site.

5. Is GST paid on each instalment?

Yes, 5% GST applies to each instalment you pay the builder. On a ₹25.50 lakh stage, GST comes to about ₹1.28 lakh. You pay stamp duty separately at the time of registration.

6. When is the final payment due at Prestige Grove Park?

The final 10% falls due when the project receives its Occupancy Certificate, with handover targeted for December 2031. The exact date will follow the MahaRERA registration.

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