Ready to move in or an under construction property which one is better for buyers?
Most first-time home buyers face this dilemma of whether to opt for a ready-to-move-in property or an under construction property. However, lately, the ready-to-move-in option has become a more sensible bet. New real estate regulations, an increasing inventory pile of possession-ready properties and an erosion of the premium on these flats have made them more attractive. Nirman Developers offers great deals on 1, 2 and 3 BHK ready-to-move-in residential projects in Ambegaon, Pune and new projects on Sinhagad road.
Here are some reasons why possession-ready flats are the next-generation home solution –
Avoid the double whammy of rent + EMI
If you invest in an under construction flat, you might have to stay in a rented apartment till you get possession. This means paying the rent and the EMI for one year, two years or more! This arrangement is sure to corrode your savings.
Higher risk associated with possession
Demonetization and RERA have proved to be a nightmare for builders. Only established builders are being able to keep the construction timelines on track. Rest of the builders have either stalled the projects indeterminately or have postponed the deadlines multiple times, making under construction projects unattractive.
You may not get what was allotted
Many buyers have taken builders to the courts in cases where the wrong flat was allotted or the construction quality wasn’t up to the mark or the amenities promised weren’t given. When you opt for a possession-ready property, you get what you see.
Limited tax benefits
If the possession of the flat is delayed, you may not get good tax benefits. For ready-to-move-in flats, buyers can claim home loan tax exemptions on both the principal and interest repayment.
Reducing rate difference
With an increasing number of possession-ready flats being introduced in the market, the rate difference between under construction flats and ready-to-move-in flats has reduced drastically. Today, quality properties by reputed developers are available in good locations, making it an ideal option for new home buyers.