Isn’t it true that when we are on a property hunt, we can’t decide whether to go for a ready-to-move-in home or a pre-launch property? Both property types have unique perks, but a pre-launch property stands out as more lucrative from an investment point of view. pre-launch properties are a popular choice as they provide us, home buyers, many options. In addition, we can efficiently perform due diligence by seeing the project’s Real Estate Regulatory Authority (RERA) registry and whether the builder has adhered to all compliances and taken all approvals. Above all, we also get a brand new home at a relatively lower price.
Here are some of the top benefits of buying a pre-launch property:
We can save up to 10-30% of the price margin in a pre-launch property. Preferring a newly constructed house gives us a lower price cap when compared to a ready-to-move-in flat offering a higher price cap with similar specifications. Buying a pre-launch apartment for sale in Bangalore will provide us with the latest amenities at a lower price range. We can get offers and discounts too, which can lower our property prices.
Higher price appreciation rate
pre-launch properties have a higher appreciation value. Labour and material costs may spike over time as the construction progresses. So, the property price also increases over time. The surrounding infrastructure also adds to the value of a property. Therefore, an apartment near a metro station will ensure a higher appreciation rate vis-a-vis a ready-to-move-in flat.
More choice and leeway for customisation
At the construction stage, we have more choices with better amenities and locations. The pre-launch project helps us make better decisions. Such a preview helps determine whether the site is strategic, accessible, sustainable, etc. Moreover, during construction, we also have the freedom to customise the home’s interior. We can install more fixtures without any hassle. Adding custom interiors to a 2 BHK flat in Bangalore during construction can give the look and feel we desire.
Payment and loan flexibilities
Flexible payments help us plan our budget and financial roadmap. Ready-to-move-in properties hardly offer flexible prices, since we must pay the entire amount in a short interval. So, arranging substantial funds in a short time could get complicated. However, in a pre-launch project, we benefit from opting for the payment plan suiting our budget and financial standing. Opting for a construction-linked or possession-linked plan gives enough time to arrange funds. Moreover, the builders have tie-ups with banks for loans at favourable interest rates, which we can avail of by entering into a tripartite loan agreement. So, while opting for flats in Electronic City, choosing a pre-launch project can help us avail ourselves of such flexible payment benefits.
A pre-launch property is made with the view to match the current lifestyle trends. So, when we opt for a pre-launch property, we get the latest amenities, which we may miss out in relatively older properties. We can find modern amenities like a modular kitchen, elevators, parking, parks and multi-purpose playgrounds in most under-construction apartments near Bengaluru’s Electronic City.
Earlier, homebuyers preferred ready-to-move-in homes since under-construction properties had a sense of uncertainty attached to it. But with the enactment of RERA, the home buying process has been streamlined, and the benefits of pre-launch properties have come into the limelight. The builder must provide the possession within the prescribed period according to the builder-buyer agreement. Hence, the home buying process is much more transparent and trustworthy for homebuyers when choosing a pre-launch property from a reputed builder.