Perceived Benefits of Buying or Investing in Projects under Construction

17 Mar 2018 01:02 PM

Homeseekers are always on a search to buy luxury apartments in a growing metro with state of the art amenities and quality resources like centralized gas supply. The fluctuations in the prices of realty properties tend to end up pitting homebuyers against other buyers. Many of the top builders in Kerala offer different kinds of under-construction or ongoing properties at best rates. If a homeseeker can surpass pre-sale formalities with ease, they will be on track to bag the best possible deal out of a real estate transaction.

Yet again, when homeseekers reach a point while searching for a place to live in, there exists a case of whether to purchase ready to occupy apartments or invest in under-construction properties. Oftentimes, the decision to purchase fully furnished flats hinge on several aspects comprising intention of purchase and financial goal.

In case you want to spend thriftily in realty market, it is worth considering making an investment in an ongoing property project. The difference in price between under-construction and ready to occupy flats tend to vary drastically. In general, EMI rates for an under-construction property tend to be on the lower side in a given locality. Homebuyers or investors can take advantage of gaining ownership of a flat and pay every monthly installment following possession. Banks tend to release the monthly payment loans for projects that are under construction as per the ongoing progress of the property and its completion.

Purchasing an under-construction property presents a ‘win-win’ scenario for both sellers and buyers. For instance, upon the final purchase of an ongoing project, the buyers get possession of the property without having to spend lump sum money as part of payment, and sellers, on the other hand, would not have to bear the required cost for further completion of construction.

The high return on investment is almost guaranteed, and that is one of the main factors that persuade homeseekers to make an investment in under-construction projects. Yet again, it is also worth pointing out that none of such deals may offset the prospect of buying ready to occupy flats in Cochin. It is just that under-construction often translates to ‘highly anticipated’ projects among the homebuyers who are keen to make sound investment choices. When under a tightrope of having to draw finance, under-construction is worth considering.