UNDER-CONSTRUCTION PROPERTIES

BENEFITS OF
UNDER-CONSTRUCTION PROPERTIES

Properties under construction come with flexible pricing options like staggered payment plans thus making them easier on the wallet than ready-to-move-in houses. With all other factors like location, size, and amenities remaining the same, a property under construction is often more affordable than a completed home with the same features.

Properties under construction also make for excellent investment options, primarily because there’s a longer window of time between paying for the property and selling it. Since you will be buying the property at a lower cost, the appreciation tends to be higher. Additionally, the GST rates on under-construction houses has also been slashed down to 5% from the earlier 12% and 1% from 8% for affordable housing projects.

Overall, if you opt for under-construction property, you will end up paying lesser for the property, which will be beneficial in the long term. However, when opting for an under-construction property do ensure to evaluate the developer’s delivery history. Many builders either cause excessive delays in the project or fail to deliver the house altogether, resulting in heavy financial losses. To avoid this, it’s advisable to buy only from trusted builders with years of industry experience and a history of consumer satisfaction. Another possible problem with under-construction houses is that new regulatory policies could affect their prices and/or delivery.