Under Construction Vs Ready To Move In Houses. Which One Is Better For You?
Under-construction properties: The Pros and Cons
Properties under construction have more flexible pricing options, such as staggered payment plans and numerous enticing offers, making them more affordable than ready-to-move-in homes. A property under construction is sometimes slightly more inexpensive than a completed home with the same qualities, assuming all other considerations such as location, size, and amenities remain the same. The price difference can be anywhere from ten per cent to thirty per cent.
Another advantage of buying a construction property is that it must be registered under the Real Estate (Regulation and Development) Act (RERA). This law provides you with numerous benefits, including builders' compliance with fair trade practices, project delays being reduced, and grievances being resolved quickly. You will also have a larger selection of units to choose from, as well as the ability to prepare for any changes in the arrangement that you may desire, as well as selecting the flooring.
Properties that are still being built represent fantastic investment opportunities, owing to the extended time between paying for the property and selling it. In addition, the GST rate for under-construction houses has been reduced to 5% from the previous rate of 12 percent.
So, what's the other side of the coin in terms of these properties? The most obvious disadvantage of buying a property that is still being built is the risk of the builder defaulting. Many builders cause significant delays in the project or fail to deliver the home at all, resulting in significant financial losses for you.
To avoid making this pricey mistake, only buy from reputed builders with years of experience and a track record of customer satisfaction. Another issue with under-construction homes is that new regulations or unforeseen events may impact their cost and delivery.
Ready-to-move-in houses: The Pros and Cons
If you're considering investing in a completed residential property, you have much to be happy about. To begin with, you get exactly what you see, and there are no surprises. You can get a firsthand look at how a property is built before deciding to buy it with ready-to-move-in homes. Furthermore, because everything is available for the examination beforehand, there are no chances of discrepancies in layouts, features, or facilities.
Ready-to-move-in homes also offer many advantages from a financial standpoint. All the costs are transparently laid out to you before you sign the deal. You can benefit from greater clarity on the total costs of purchasing and living in a completed property, with details like the maintenance charges, EMIs, and other additional fees explained to you beforehand. With ready-to-move-in houses, you will also save on paying the GST. Once you’ve completed the formalities related to payment and paperwork, the unit is yours to move into and enjoy the lifestyle. On the flip side, ready-to-move-in homes do not offer much scope for any internal modification to your space. Also, they may cost higher compared to under-construction homes.
Ready to Move Properties of BPTP:
Apartments around Dwarka Expressway in Gurgaon are in high demand. In case you are looking for a classy apartment in this part of the city, check out BPTP Terra. The project comes with all sorts of modern amenities. One can buy apartments in 3 BHK and 3 BHK& home office configurations in this project. These sophisticated homes bring you a calculated mix of comfort and class.
The vibrant city life of Gurugram looks alluring for the residents. Residing at BPTP Terra Gurgaon, you can cherish a blissful lifestyle. Currently, these homes are available at prices starting at INR 1.50 crores. These prices range up to INR 1.72 crores, depending on the configuration, size, and format. Therefore, you have plenty of options to choose from when you purchase the apartments.
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