Under Construction Property
Img source: indiatimes

The homebuyers today are more attracted towards the ready-to-move-in apartments in comparison to the under-construction property. But, the prospects must know the benefits of investing in under-construction properties that are available across the length and breadth of the country. So, here are the advantages of buying an under-construction property. 

1. Assured Timely Possession

The biggest benefit of purchasing an under-construction property is its timely possession. The introduction of RERA Act 2016 by the Narendra Modi-led Union Government in its first tenure has diminished the risk involved with such properties as the strict norms has made the developers complete projects in a time-bound manner and thus the prospects need not worry about possession. Under the RERA Act i.e the Real Estate Regulatory Act, the realtor has to register all the projects along with their details and date of completion. This can be checked online by visiting the concerned portal like for residential projects in Noida and Ghaziabad visit https://www.up-rera.in/index. Similarly, a homebuyer can visit https://haryanarera.gov.in/ to figure out details of the housing projects in Gurugram and Faridabad. 

 2. Budget-Friendly Price

Another advantage of buying an under-construction property is its cost. All the major realtors have launched various affordable housing projects in India and a lot is being planned. Hence, the homebuyers get a sea of opportunities to seal the best deal that suit their requirements like location, amenities, unit size and more. The unit value is always high on the mind of a homebuyer and thus the options under the housing segment within the budget is a big advantage to avail. 

3. Developing Infrastructure 

One big advantage of buying an under-construction property is its strong infrastructural facilities in the future. The homebuyers do not have to wait for the proposal of new roads, educational establishments, hospitals, banks, shopping arcades and more as these structures develop simultaneously close to the townships like various residential projects in Greater Noida West share close connectivity to Fortis hospital, Noida City Center, Global International School along with metro connectivity on DMRC’s blue line and NMRC’s Aqua line. 

The homebuyers have a major advantage as they will live in a future-ready and a hassle-free locality. 

4. Easy Payment Option

Another big advantage to buy an under-construction property is the easy payment option as the homebuyers can book a housing unit at the lowest price. The payment plan of the under-construction property offers more time to gather funds as a prospect is required to deposit money at regular intervals like slab-wise mainly. Remember, a unit booked at a low per sqft price is always better than moving into a housing unit that has a higher rate of area per sqft. Investing in under-construction property is a far better option than buying a costly ready-to-move-in property.

5. Attractive Offers 

Many attractive offers like assured gifts, Diwali dhamaka and more give the option to find the right property as per the requirements. Such deals allow the prospect to own a dream house that not only fill the requirement but also gives a sense of a modern lifestyle.