Understanding the Elan Statement payment plan is crucial when you're investing ₹9 Crore for a 4 BHK or ₹12 Crore for a 4 BHK Penthouse at Elan The Statement Sector 49. That's serious money, so you need to know exactly when you're paying and how much at each stage.
This complete guide covers the Elan The Statement payment schedule: the 30:40:30 payment plan structure, construction-linked milestones, home loan options, tax benefits, and how to plan your finances effectively.
Understanding the Elan Statement Payment Plan: 30:40:30 Structure
The Elan Statement payment plan follows a buyer-friendly construction-linked payment structure - the industry-standard 30:40:30 model. Here's how the Elan The Statement payment schedule works:
How It Works
- 30% - When you book
- 40% - As they build (tied to construction milestones)
- 30% - When you get the keys
This is actually pretty buyer-friendly. A lot of luxury projects want more upfront. Let's get into what happens at each stage.
Stage 1: Booking Amount (30%)
At Time of Booking
This initial payment secures your unit and includes:
- Booking amount (typically ₹25-50 lakhs as token)
- Balance of 30% within 30-45 days of booking
- Agreement to sell executed
- Unit allocation confirmed
Example: 4 BHK (4,285 sq.ft.) at ₹9 Cr
Pay ₹2.70 Crore at booking
Example: 4 BHK Penthouse (7,395 sq.ft.) at ₹12 Cr
Pay ₹3.60 Crore at booking
Stage 2: Construction-Linked Payments (40%)
During Construction
This 40% is typically divided across construction milestones:
Foundation Complete (10%)
When the building foundation and basement work is complete
Ground Floor Slab (10%)
Upon completion of ground floor structural work
Your Floor Slab (10%)
When the slab of your specific floor is cast
Internal Plastering (10%)
When internal plastering work begins on your floor
Milestone Verification
RERA requires developers to update construction progress regularly. You can verify milestones on the HRERA website before making payments. Never pay without confirming actual construction progress.
Stage 3: Possession Payment (30%)
At Possession
The final 30% becomes due when:
- Occupation Certificate (OC) is received
- Final inspection completed
- All documentation ready for registry
- Keys handover
Complete Payment Timeline Visualization
| Stage | Percentage | 4 BHK (₹9 Cr) | 4 BHK Penthouse (₹12 Cr) |
|---|---|---|---|
| Booking | 30% | ₹2.70 Cr | ₹3.60 Cr |
| Foundation | 10% | ₹90 L | ₹1.20 Cr |
| Ground Floor | 10% | ₹90 L | ₹1.20 Cr |
| Your Floor | 10% | ₹90 L | ₹1.20 Cr |
| Plastering | 10% | ₹90 L | ₹1.20 Cr |
| Possession | 30% | ₹2.70 Cr | ₹3.60 Cr |
| Total | 100% | ₹9.00 Cr | ₹12.00 Cr |
Additional Costs to Budget For
Beyond the Elan Statement price, plan for these additional expenses:
Mandatory Government Charges
- GST: 5% on under-construction property (input credit adjusted)
- Stamp Duty: Varies by state - typically 5-7% in Haryana for males, 3-5% for females
- Registration: 1% of property value
Additional Costs Example: ₹9 Cr Apartment
Additional: ~₹1.08 Crore
Other Charges
- Preferential Location Charges (PLC): Extra for corner units, park-facing, higher floors
- Club Membership: One-time fee for clubhouse access
- Car Parking: May be included or charged separately
- IFMS (Interest Free Maintenance Security): Advance maintenance deposit
- Legal Fees: For document verification and agreement drafting
Home Loan Options for Luxury Apartments
Most buyers finance a portion of ultra-luxury purchases through home loans. Here's what to know:
Loan Eligibility for High-Value Properties
- Maximum LTV: Banks typically finance 75-80% of property value for loans above ₹75 lakhs
- For ₹9 Cr property: Expect loan up to ₹6.75-7.2 Cr
- For ₹12 Cr property: Expect loan up to ₹9-9.6 Cr
Pre-Approved Banks
Elan Group typically has tie-ups with major banks for pre-approved project loans:
- HDFC Bank
- ICICI Bank
- SBI
- Axis Bank
- Kotak Mahindra Bank
- Yes Bank
Pre-Approved Project Benefit
When a project is pre-approved by banks, loan processing is faster, documentation is simpler, and you may get slightly better interest rates. Elan The Statement, being a RERA-approved project from Elan Group, is typically pre-approved by major lenders.
EMI Calculation Examples
Assuming 8.5% interest rate and 20-year tenure:
| Loan Amount | Monthly EMI | Total Interest |
|---|---|---|
| ₹5 Cr | ₹4,34,000 | ₹5.42 Cr |
| ₹6 Cr | ₹5,21,000 | ₹6.50 Cr |
| ₹7 Cr | ₹6,08,000 | ₹7.59 Cr |
| ₹8 Cr | ₹6,94,000 | ₹8.67 Cr |
*Indicative figures. Actual EMI depends on prevailing interest rates and loan tenure.
Tax Benefits on Home Loan
Home loan for luxury apartments offers significant tax deductions:
Under Section 24(b) - Interest Deduction
- Deduction up to ₹2 lakh per year on interest paid
- For self-occupied property
- No limit if property is let out (entire interest deductible)
Under Section 80C - Principal Repayment
- Deduction up to ₹1.5 lakh per year
- Includes principal portion of EMI
- Part of overall 80C limit
Under Section 80EEA (if applicable)
- Additional ₹1.5 lakh interest deduction
- Subject to conditions on property value and loan sanctioning date
Tax Planning Note
Tax benefits on luxury properties are subject to various conditions and limits. Consult with a tax advisor to understand the exact benefits applicable to your situation, especially given the high-value nature of these apartments.
Why This Plan Actually Helps You
The 30:40:30 thing? It's got some real benefits:
1. Lower Risk
You only pay as they build. If something goes wrong (knock on wood), you haven't given them everything. That matters with under-construction stuff.
2. Easier on Your Cash Flow
Payments stretched over 3-4 years while they're building. That's time to move money around, sell investments, whatever you need to do. No rush.
3. Save on Interest
Taking a loan? You can do pre-EMI (just interest, not principal) during construction. Full EMI starts when you move in. That saves you real money.
4. Your Money Grows Too
That first 30% locks in your unit. While they're building? The value's probably going up. By the time you get keys, you've already made money on paper.
Tips for Managing High-Value Property Payments
Before Booking
- Get Pre-Approved: Secure home loan pre-approval before booking to know your exact budget
- Understand All Costs: Request complete cost sheet including GST, stamp duty, and other charges
- Negotiate: In luxury segment, there's often room for negotiation on base price or waiver of certain charges
- Read Agreement Carefully: Understand payment timelines, delay penalties, and builder obligations
During Construction
- Track Milestones: Verify construction progress on HRERA portal before making payments
- Maintain Records: Keep all payment receipts and correspondence
- Site Visits: Regularly visit to monitor actual progress
- Communication: Stay in touch with sales team for updates
At Possession
- Snag List: Document any defects before final payment
- Verify Area: Confirm carpet area matches agreement
- All Documentation: Ensure you receive all legal documents, warranties, manuals
- Registry Planning: Plan for stamp duty and registration costs
RERA Protection for Buyers
Elan The Statement is RERA registered (Reg. No: 125 of 2025), providing these protections:
- Carpet Area Transparency: Pricing must be based on carpet area
- Timely Delivery: Builder liable for delays beyond committed date
- Quality Assurance: 5-year defect liability period post-possession
- Fund Safety: 70% of collected funds must be deposited in escrow account for construction
- No Arbitrary Changes: Builder can't change plans without buyer consent
- Grievance Redressal: RERA authority handles disputes
Frequently Asked Questions
Can I make advance payments to get a discount?
Some developers offer discounts for advance payments. Discuss with the sales team if any such schemes are available. However, weigh the opportunity cost of blocking funds early.
What happens if I delay a payment?
Typically, there's a grace period of 30 days. Beyond that, interest (usually 12-15% annually) is charged on delayed amounts. The agreement specifies exact terms.
Can I transfer the booking to someone else?
Yes, with developer's approval and payment of transfer charges (usually 1-2% of property value). This is common when investors sell before possession.
Is GST applicable on resale after possession?
No, GST is not applicable on resale of completed property. Only stamp duty and registration apply.
Can I customize interiors before possession?
Premium projects often allow customization. Discuss options and associated costs with the developer during booking.
What It Comes Down To
The 30:40:30 payment plan at Elan The Statement makes it easier to afford luxury by spreading out the payments. For detailed pricing breakdown, check our complete price review. Here's what you need to do:
- Budget for everything: Base price, GST, stamp duty, registration - it all adds up
- Get your loan sorted early: Pre-approval shows you what you can actually afford
- Use RERA: They've got your back if something's fishy
- Watch the construction: Don't pay until they've actually done what they said they'd do
- Know your tax breaks: Home loans come with deductions - use them
₹9 Crore for a 4 BHK. ₹12 Crore for a 4 BHK Penthouse. That's not pocket change. But understanding how the payments work? That's how you make it manageable.