People looking for housing frequently face this single most common quandary: whether to invest in an under-construction flat or a ready-to-move-in apartment. While each has its own set of advantages and disadvantages, there are some financial advantages to booking under construction apartments in Bangalore. Often, people are not financially or mentally prepared to move in right away, and choosing under-construction apartments allows them to prepare for this major transition. Under-construction apartments may even offer higher appreciation value for homeowners depending on location, price, and amenities.
Here are the top 5 reasons that will justify your decision to invest in under-construction apartments in Bangalore.
UC apartments in Bangalore are less expensive than ready-to-move-in properties. The price difference between the two is approximately 10-30% depending on the chosen locality and range. Furthermore, under construction apartments will not cost you as much as ready-to-move-in apartments. As a result, purchasing pre-construction apartments in Bangalore is a wiser investment.
Possibility of higher returns on investment
Under-construction properties provide a higher return on investment due to the longer time lag between the booking date and the delivery date. Typically, homeowners purchase at a lower cost, and as they approach the period of possession, the capital appreciation of the residential project increases. With the passage of time, even the area grows in terms of industrial development, making it more valuable than it was previously.
RERA compliant investment
The Real Estate (Regulation and Development) Act, 2016 was passed by Parliament to protect homebuyers and also attract investment. Developers must complete the under-construction housing project on time now that RERA is in effect. In the absence of this, they will be obligated to compensate the buyers.
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Flexibility of payment
Apartments that are ready to move into require immediate and full payment, including the registry fee and other associated expenses. UC apartments in Bangalore, on the other hand, allow homeowners to pay in smaller instalments. In most cases, EMI payments start after the completion of the residential apartments. Therefore, payers do not need to make preparations for an upfront payment.
Design and infrastructural novelty
UC apartments in Bangalore also feature the latest construction and design features and models. Many buyers prefer UC houses because they get new properties with the most up-to-date features.