5 Advantages of Buying Flats Under Construction

Purchasing ready-to-move-in flats help to avoid procedural hassles and for immediate possession. But Buying construction flats will also come with some of their perks.

Buying a new home is everyone's dream, so it comes with great responsibility. When you know what or which type of home you want, it should be easy for the consumers to find the perfect home.

Most IT workers have hectic schedules, and it would be an excellent opportunity to find the home nearest to their job location, and Pune Hadapsar has excellent residential options.

Hadapsar is the new growing Tech Park. Besides the shiny corporate offices, Hadapsar is surrounded by gardens, Hindu temples, Malls and multiplex, proving that Hadapsar is the perfect place to live to avoid extra travelling time for daily work. It is a new opportunity for investors as many more New Projects in Hadapsar are launched.

5 Reasons to Buy Under-Construction Flats Instead of Ready One

Purchasing your own house is always a wise choice, and investing in an under-construction apartment makes it wiser.

Here is the list of why you should invest in under-construction flats:

1: Save Time, Save Dime

Time is money, and people want everything instant, whether it is food, a car or flat bookings. 

Ready to move into flats is someone else's choice, so the preferences are different.

Under construction flats come with many benefits, first of all the financial ones. Buying under-construction apartments mainly affects cost-cutting, as the ready-to-move-in flats are more expensive than the undertaking ones. 

By booking construction flats, consumers can save up to 10% - 40% on finance. Not only that, but also the other expenses like interiors or maintenance. Most importantly, when you apply for a loan for under construction flat, the EMIs are smaller with long tenure, so that it would benefit most consumers.

2: Profit and Only Profit:

Property is an excellent source of investment, and all the preferences can control by the sole owner. The Flats location, amenities, designs or personalisation can be done according to the consumer's wish. Even though the consumer doesn't like the property site, other options are always open.

Buy the property which is in undertaking and sell it once it reaches the completion stage. Investors can make a substantial profit, too and even if some repairing is needed in the middle of construction, the builder or developer will bear the repairing cost too.

So, it is quite pocket-friendly to buy under-construction flats.

3: Higher Price Appreciation Rate

The property's value not only decides on its construction but other factors like location, amenities, environment and development rate and other infrastructures of the particular area. For instance, if you buy a flat in Dec 2022 outskirts of the city, but the flat price will start increasing when the surrounding area starts developing, and by this, in mostly one year, your flat price will improve beyond your expectations.

4: The Government Support

The government introduced the RERA (Real Estate Regulatory Act) in 2016 to protect consumers from possession delays by builders and developers. The RERA had made it mandatory for all the builders to give possession in the stipulated time; otherwise, the company has to repay the entire amount of consumers and interest. 

Also, According to the RERA, builders have to quote the price based on the usable carpet area and not on the built-up area, and 70% of the money should be deposited in the bank through the cheque payments to reduce the chance of losing hardened money of the consumers. So now there is no worry about investing in under-construction apartments.

5: New Constructions

New constructions come with modern designs and many customisation options. New constructions are more reliable than old ones and have fewer chances of damage and repair.

New constructions and a flat for sale in Hadapsar, first of all budget-friendly option with some modern amenities.

The main purpose of the buyers is to enhance savings, and most of the time, new constructions make the superior offer. 

Conclusion

Home buyers preferred ready-to-move-in flats over under-construction flats to avoid possession delays. But after the arrival of RERA, Most consumers are back investing their money in construction apartments as the under-construction apartments have their perks. 

Buying an under-construction apartment will always be the wiser choice as there are numerous benefits like new and modern constructions, lesser chance of damage, many offers, Time and money saving and many more.