The Icon Faridabad · Buyer Q&A
What payment plan options does The Icon Faridabad offer?
How RERA payment plans work in general
Under the Real Estate (Regulation & Development) Act 2016, any sums collected from buyers on a registered project must flow through a designated escrow account, and disbursements from that escrow to the developer are tied to construction-milestone progress disclosed to HRERA. The structure protects buyers: the developer cannot freely deploy buyer money — it's released against verified progress. Every legitimate payment plan on a RERA-registered project respects this framework.
Construction-linked vs. time-linked at this category
Two structures dominate at premium mixed-use projects. Construction-linked plans tie buyer instalments to specific construction milestones (excavation, slab pours, structural completion, finishes, OC) — slower progress means slower outflow, lower stress for the buyer if milestones slip. Time-linked plans schedule instalments by calendar date regardless of construction pace — useful for the developer's cashflow planning and sometimes paired with a discount. Most buyers prefer construction-linked unless a time-linked discount is meaningful.
Booking amount and downstream charges
Bookings at this category typically open at 10% of BSP, confirmed on the unit-specific cost sheet. Subsequent instalments follow the chosen plan. Charges that apply over and above BSP — typically Preferential Location Charges where applicable, Interest-Free Maintenance Security, statutory GST, registration and stamp duty — are scheduled alongside BSP per the cost sheet. The cost sheet is the binding document; verbal indications of charges should always be confirmed in writing before commitment.
What to verify before signing the booking form
Three checks: (1) match the payment plan in your cost sheet against what's filed under project HRERA-PKL-FBD-793-2025 on https://haryanarera.gov.in; (2) confirm the escrow account number on your receipts matches the RERA-disclosed escrow account; (3) read the booking form's cancellation, refund and assignment clauses — these are the buyer's exit mechanics if circumstances change.
Talk to the HRERA-registered channel partner
Unit-specific cost sheet, payment plan and the current pre-launch discount on WhatsApp within 10 minutes.