People on the lookout for housing properties often face this single most common dilemma- whether to invest in an under-construction flat or in a ready to move-in apartment. While both have its own share of pros and cons, there are certain financial benefits of booking under construction apartments in Bangalore. Often people are not financially or mentally ready to move in immediately and opting for under-construction apartments gives them the time to prepare for this major transition. Depending upon the location, price and amenities, under-construction apartments even offer higher appreciation value for the homeowners.
Here are the top 5 reasons that will justify your decision to invest in under-construction apartments in Bangalore.
Economical decision: Under construction apartments in Bangalore cost less than ready to occupy properties. The difference in pricing between the two amounts to almost 10-30% depending on the chosen locality and range. Moreover under construction apartments will not set you back financially the way ready to move-in apartments usually do. Hence buying under-construction apartments in Bangalore is a more judicious choice.
Possibility of higher returns on investment: As there is a prolonged gap between the booking date and delivery time, under-construction properties yield a higher return on investment. Usually, the homeowners buy at a lower cost and as they move towards the period of possession, the capital appreciation of the residential project becomes higher. Nowadays with time, even the area grows in term of industrial development and thus becomes more valuable than before.
RERA compliant investment: The Real Estate (Regulation and Development) Act, 2016 was passed by the Parliament of India to protect home-buyers as well as to boost investments in the real estate industry. With RERA in effect, developers must deliver the under-construction housing project on time. Failing this, they will be liable to pay compensation to the buyers.
Flexibility of payment: Ready to move-in apartments necessitate the immediate and full payment including the registry cost and other associated expenses. Under construction apartments in Bangalore however, offer the homeowners the chance to pay in smaller installments. In most cases, the EMI payments also generally begin after the completion of the residential apartments. Thus payers do not have to worry about arranging a lump sum amount of money at the time of booking.
Design and infrastructural novelty: Yet another fantastic aspect of the under-construction apartments in Bangalore is that they are designed with the most updated features of construction and latest models are taken into consideration. Many buyers opt for under-construction houses as they get the new properties with the latest features.