5 BENEFITS OF BUYING AN UNDER-CONSTRUCTION PROPERTY

Gail Lagges blog

Gone are the days when buying an under-construction property was risky. In fact, opting for an under construction property can be really profitable. Read on to drive away all your fears. Here’s why investing in an under-construction property is a wise deal: An investment in time saves dimes Time is money. The earlier you buy a property before its completion stage, the cheaper it will be. Ready to occupy possessions are always more expensive than under construction undertakings. You can save up to 20 to 40 percent of your money by going for the latter. Also, your EMIs will be shorter and/or smaller as the loan amount will be naturally less burdensome.

Profit, profit and only profit It’s an excellent source of investment. When you buy a property during its construction stage you are most likely to earn a substantial profit if you decide to sell it closer to its completion stage. Moreover, there is an added advantage of buying an under-construction project. If there are any repairs required in the amenities or facilities in the pre-possession stage, the developer will foot the bill and not you. The government has your back Thanks to the implementation of RERA (Real Estate Regulatory Act) the chances of getting fleeced by builders have reduced to a large extent. The RERA has made it mandatory that if the construction company fails to deliver the completed property within the stipulated time, the company will have to return the entire money invested by you along with the interest. So the fear of losing your money by buying an under construction property is now a thing of the past, literally and legally. Your house, your design Often ready to occupy accommodations do not match the design of your dream house in toto. While in the under-construction stage changes in the design can be made timely and efficiently. An under construction undertaking can give you the chance to customize your home as per your specifications or Vaastu to a certain extent. Your construction site, your investment insight As per RERA, no builder can sell or even advertise their property without registering it with the regional regulatory authorities. Plus, post-registration, the developers are bound to upload all the legal papers and documents on RERA’s website for the layman’s perusal. Such provisions protect you from any sort of real estate fraud and safeguard your money. Furthermore, now you can demand from the builders as to how they are utilizing your money in the construction. You can lodge a complaint with the regulatory authorities if you find at any time that the construction is not as per the quality standards. Now that all your doubts and fears are cleared, don’t waste more time. Visit Aparna Constructions right now to check out all our under-construction projects that are waiting just for you.

 

source: shruthi balam shared a post with Real Estate