October 2017 | Back to all Real Estate Articles
It feels great to buy a house and move-in immediately rather than waiting for two-three years. Considering this, several buyers this festive season have been investing in ready-tomove-in flats. The realty sector has witnessed a surge in its demand this festive season.
While for some buyers the opportunity to move-in quickly encourages them to invest in ready-to-move-in flats, for others doubts over whether the construction will be up to the mark or not make them to invest in such flats. Although price wise ready-to-move-in flats may be slightly expensive as compared to under construction projects, there are no aftershocks and is a safe option.
According to the city developers, ready-to-move-in flats will always be the better choice for an end user as they can move in immediately. During this festive season, these flats are in greater demand. Many develop ers are providing great offers in such flats. “Ready possession apartments are secure options for an end user. It also has many advantages -the buyer can examine it thoroughly and check the quality of construction as well. The buyer will get a good idea of how the neighbourhood is. They can know if the basic facilities around adequate or if the connectivity is good and to their benefit. They can check on the security factor of the location and the presence of public transport.And most importantly, a ready to-move-in flat includes all the required documents to be in place,“ informs Srinivasan Gopalan, group CEO of a leading realty firm.
Although after the implementation of RERA there is not much difference between ready-to-move-in flats and underconstruction flats as the assurance of timely delivery has to be confirmed and developer has to adhere to all the promises given to the buyers, the former is still the first choice among the end-users.
Also, keeping in view that most individuals purchase property by taking loans, they prefer to invest in ready project and shift immediately, instead of paying the EMIs of loan and rentals for several months till the project gets complete. Purchasing a flat in a completed project helps the buyers to save a lot of rental money. This is the most important factor that has led to the rise in the demand for ready-tomove-in flats.
Another major factor helping the good sale of these flats this festive season is the attractive discounts and freebies that developers are offering to the buyers on such inventories.
“Since the value of ready houses is always high, developers offer discounts in certain things like car parking charges, club membership, and more to attract buyers. This method has really helped to increase the sales of such homes,“ said Anil Jain, a property expert.
Furthermore, ready-to-move-in property is preferable even for investors. As per the realty experts, not just buyers but even majority of the investors wish to invest in ready possession flats instead of waiting for a few years and locking their money by putting it in the under-construction project. Buying a such apartment helps them to earn rental income immediately.