The
idea of finally being able to buy ones very own home is like a dream
come true to most of the people. Be it a small flat or a big
bungalow, owning a home is extremely special to all of us. While
people are on a hunt for finding a perfect nest for themselves and
their family they are quite skeptical about buying a property that is
under construction. What causes this dilemma is the uncertainty that
comes with these under construction properties. However, property
buyers are also not aware of the benefits that can be prevailed by
them by buying such houses or flats. So even though ‘ready for
possession’ properties come with a lot of ease and lesser
formalities, yet the under construction projects have their own
benefits. Here we will discuss the benefits of buying a under construction projects in Noida.
One
of the best advantages of buying an under construction property is
the discounted price. One should be aware that the prices of the
properties rise as it gets nearer to the stage of completion. Those
properties which are still in the process of being constructed can be
up to 25% lesser in price that the final market prices. Residential properties in Noida are not so inexpensive; sane is with the
commercial ones, so here you will get a lot to save.
With
lesser amount of investment required to buy an under construction
property one has the opportunity to get better returns. You get to
buy the apartment or the house at a discounted rate and then later
get the benefit of the appreciated value i.e. the market price of the
fully constructed property. However, if you are planning to buy with
an investment perspective in mind make sure that the area you are
buying in is equipped with the basic amenities for a growth in price.
Under
construction projects often come with offers which allow you to make
deferred payments. So whether you are planning to buy a residential
property or a commercial project in Noida, whenever one
invests in an under construction project, one does not have to pay up
the complete sum instantly. There is a great difference between the
pre launch rate and the current market rate of the properties. When
you buy a property at the pre launch stage you only have to pay a
small part of the total amount initially and the rest can be paid in
the next few years.
If
you are okay with buying an under construction flat then you have the
opportunity of choosing from a great number of options. This also
allows you to choose from the best of the upcoming properties and you
can make your preference on the basis of your desired place, price,
design, floor, time etc. Also, you get to select from the best
choices within your budget.
On
buying of an under construction property, if you plan to get a home
loan you get the benefit of deferred deduction on interest payable
through the pre-construction duration. Well, now this
pre-construction phase is defined by law as the time duration
beginning from the date of the borrowing made and finally finishing
on 31st
March of the preceding the year in which the entire construction has
been completed.
One other important aspect of
buying an under construction property is that, unlike with ready to
possession properties which do not allow you to give your space any
personal touch, here you can make some amendments as per your wishes.
This may not seem like a big thing initially but trying to change
things in your finished house later can cost you a fortune.
So
we suggest that if you are looking for excellent returns on property,
it's better to invest in under construction projects as they will
give exceptional returns in the long run!
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