Advantages Of Buying An Under-Construction Property

Advantages of buying an under construction property

When we begin looking for a property to buy, the first thing that comes to our mind is

ready-to-move-in property or under-construction property. Which option is the best?

Both the properties have their own set of benefits and drawbacks. However, buying an

under-construction property is good for the purpose of investment because you can get

a good property for a low price.  It is not really easy to make this tough decision.   

In such a case, it is even more important to make a learned decision. You should not

make this decision in hurry or in a state of confusion, but rather on the basis of facts

and calculations.

Every year, a number of real estate agencies and firms introduce new residential

complexes and units. Prestige, Sobha, Sriram, Godrej builders, and others are some of

the market’s major players. These are some of the most well-known names in

infrastructure and real estate. These companies launch various real estate projects to

meet the needs and desires of the market. These companies promote their under-

construction properties and encourage customers to book or buy flats or apartments

on these sites.

However, as compared to ready-to-move-in properties, these under-construction

properties are significantly cheaper and offer bigger areas at the same price.  Let’s

take a close look at the advantages of the under-construction property.

Lower Prices

The price difference between a possession-ready property and an under-construction

property can vary from anywhere between 10% to 30%. Assuming the same location,

property area, property type, and builder. Even if you have to wait to move into or

rent out your new home, the price difference will surely be worth the wait.

Make payment with ease:

In the case of a ready property, the buyer must pay the entire sum at once or within a

limited period of time. But in the case of an under-construction property, there’s much

more flexibility in payment. The buyer can book a property by paying a small deposit

amount and pay the rest comfortably over a long period of time (until the construction

completes).

Price appreciation:

As the construction of a property progresses, its price also increases. Moreover, during

this time, the development of the surrounding infrastructure also contributes to the

value of a property. This is why buying a property in its development stage is a wise

decision.

New Construction:

You move into a brand-new home with no maintenance issues and a long life span when the construction

of an under-construction property is completed. Furthermore, you will have access to the most up-to-

date amenities and facilities available in the sector. If the building is old, the home-buying experience will

be tarnished in the case of ready-to-move-in properties.

Offers:

The biggest differentiator for ready-to-move-in is that they are ready properties. For

this reason, you will hardly find any offers on them. On the other hand, under-

construction properties provide a wide variety of schemes and plans.

Previously, homebuyers preferred ready-to-move-in properties over under

construction, primarily to avoid delays in possession. However, homebuyers can now

freely choose under-construction property as long as it has a valid RERA number and it

is a project by a reputed developer, thanks to the introduction of RERA.

Conclusion

• Lower cost
• Higher appreciation
• Payment flexibility
• New construction
• Discounts and offers

If you are looking for under-construction projects in South Bangalore, do check out our

Exclusive Properties. They are premium projects offering 1 & 2 BHK residences with

exciting offers.