Investing in real estate is something that needs to be done after a great deal of research and caution. This is something that even our clients believe in which is no wonder why they have a lot of questions to ask us. Some of the most common questions that our folks here at Mahendra Homes get are regarding under-construction properties in Bangalore. How safe it is to invest in under-construction projects and what are the pros and cons that one should know before diving into them? These are some of the concerns that plague most buyers. To know the answers to these queries, read on!
The major benefit of having invested at an under-construction stage is you get to get to buy the property at a low price and see the value of your investment grow by the time it is completed. But you may have heard some downsides about purchasing a property in its under-construction stage. There have been instances of how some builders have delayed under-construction projects costing the buyers several lakhs of rupees and in some cases even more. But now, with the introduction of RERA, you can rest assured as the builders have to deliver on time and are liable to pay compensation if they don’t. Due to this, you are not just secure but you also get to reap the benefits of having invested at a nascent stage.
Ease of Payment
While buying an under-construction property, you have more time to manage your finances as there are various payment plans like a linked plan, time-linked plan, flexible payment plan, etc. Whereas, when you invest in ready to move flats in electronic city Bangalore or anywhere else for that matter, you are required to pay the entire amount within a stipulated amount of time. Additionally, for an under-construction project, you pay 10-20% at the time of booking while the remaining amount is paid in instalments.
From an investor’s point of view, it would do well to invest in residential apartments in Bangalore which are in their pre-launch or under-construction stage to reap the maximum benefit. Under ideal circumstances, a project records 15-20% appreciation from the time of launch to completion. However, certain factors come into play which includes location and infrastructure.
Freedom of Choice and Customization
By investing in the property at its nascent stage, you get the freedom to pick the unit and floor of your choice.
There are however some things that you need to take into consideration before investing in under-construction properties in Electronic City, Phase 2. Check the reputation of the builder and get a sale certificate as well as a title deed to ensure that all the legalities are in place. The property that you have seen on the glossy brochures may not reflect the reality.
This is why you should go for builders of repute like Mahendra Homes who to their credit have constructed several residential apartments in Bangalore like Mahendra Aarna and are considered to be some of the best properties in Electronic City, Phase 2. The best part is that they are RERA approved projects in Bangalore To know more, book a visit soon.