Anyone constructing a home in India knows that the real challenge starts right from the stage of financing the purchase through a home loan and continues right till the time the last EMI is paid off. Added to that are the construction costs, in case of plot buyers who wish to construct their own house and the maintenance costs that are compulsory in any gated community.
Brixline uses tech to offer a solution for every aspect connected with constructing a home, starting right from the stage of securing a home loan. It acts as a tech-enabled Direct Selling Agent (DSA), partnering with more than 12 banks, NBFCs and Housing Finance Companies (HFCs) to disburse loans within just 25 days.
Given that home owners often end-up paying back almost double the amount – or sometimes even more – to the lender by the time their loan tenure comes to end, Brixline has made home loans affordable through its long-term structured cash back payout as a reward by managing assets long term until loan closure.
In an industry first, Brixline also offers a Default Protection Model for both home loan borrowers and the lending institutions, which completely eliminates home loan defaults, foreclosures and non-performing assets (NPA) – a win-win for both home loan borrowers and the lenders.
“The Default Protection Model by Brixline covers up to certain EMIs in case of temporary defaults, which could occur in cases where the home loan borrower may have been laid off or faces a temporary financial crunch. In cases of permanent default, Brixline repays the entire loan, takes temporary possession but allows the family to stay and offers a 100-year buyback clause at market value which is a humane alternative to ruthless foreclosures. It’s also advantageous for lenders as it eliminates NPAs,” says Gatish Chandra Nayak, Director of Growth, Brixline.
Brixline’s CaaS Plus AMC model comes as a boon to home owners who have to contend with a multiplicity of requirements for constructing a house, including dealing with architects, contractors, labour, construction material, not to mention on-site supervision. Brixline offers a one-stop shop construction model with zero cost escalation and a 12-month guaranteed delivery with turnkey construction that starts from the floor plan to the final coat of paint.
Brixline’s network of 38 vetted contractors and an in-house team of over 80 architects, engineers, interior designers and floor planners backed by regular quality audits ensures that home owners build the home of their choice completely stress-free. Using technology as an enabler, Brixline offers a tech dashboard – via a personalised Construction Tracker App - enabling home owners to track their construction in real-time, with stage-wise photos, milestones and updates.
The app also allows home owners to check task completion percentages, payment breakdowns, details of the contractor and the supervisor in addition to facilitating scheduled walkthroughs and arrange site meetings, making the entire construction process absolutely transparent.
Brixline’s commitment however doesn’t just end with delivering a finished house – it also takes care of the day-to-day maintenance of the property through its 15-year property management plan which includes repairs when required, asset portfolio tracking and digital upkeep records, valuation updates and resale assistance, and rental & resale facilitation if required.
