You can ask the residents of the older buildings whether the building was developed on time or whether the developers have delivered the building to society in a friendly manner. This is one of the most important considerations urban treasures singapore to keep in mind, because a floor under construction is much cheaper than a ready-made floor in the same place. That is why it also depends on the amount of money you want to invest in your apartment.
The disadvantage of a ready-made house, however, is that it generally has a higher price than a house under construction. Therefore, it may not be an ideal option from an investment and valuation potential perspective. Also, the buyer does not have the flexibility to choose the floor or configuration compared to a house under construction. “Since the buyer also spends his profit on the property, he must generate a profit. The investment should help the buyer in the long run where he can sell the property if necessary, ”adhwani adds.
While buying a home is not an easy task, another decision that exacerbates the dilemma for home buyers is choosing a ready-made home or a house under construction. The real estate sector has been delayed in the past 4-5 years, but problems worsened in 2019 after the liquidity crisis due to the collapse of IL & FS. “Due to the liquidity crisis, NBFCs have less money for buyers and real estate developers,” says Sankey Prasad, CMD, Colliers . There are also complaints that banks have taken out loans previously granted to home finance companies and home developers after the IL & FS crisis. Since real estate directly and indirectly affects auxiliary sectors such as cement, steel, tiles, paintings, electrical equipment and even furniture, everyone wanted the government to intervene.
For starters, you don’t have to worry about the quality of the construction and you can be sure of the timely delivery of your home. In addition, renowned real estate developers generally have a good track record and a constant success rate. By verifying your field report, you will also notice that most of your projects are registered under the Real Estate Regulatory Authority . In addition, most established builders are members of an industry association, such as the Association of the Confederation of Real Estate Developers of India or the Association of Builders of India . Not to mention, the additional benefits of modern amenities that come with buying projects from established real estate companies. The above ratios are to check whether the rates are reasonable for ready-to-use property floors in an area.
If you are looking for options for building property loans, make sure to collect all the necessary details about the process and then move on to the idea. By using loans for housing for construction houses, financial institutions check whether the property / project is valid. One of the advantages of buying property under construction is doing different validations before focusing on the property. Before selecting the property under construction, you can check the builder’s background.
Under Construction Project is a high-risk investment because legal status has not yet been established. In many cases, builders even sold the apartments before signing the joint development agreement with landowners. I emphasized the pros and cons of the Flat Resale and Construction Project in my publication on Resale Flat or Under Construction Flat, which is better?.
When buying a home ready to move, a buyer must pay the full amount of a chance. There are also stamp taxes, registration fees and other various expenses. But in the initial phase of a house under construction, it pays 10-15% as a reserve amount for houses under construction.
You can make a comparison by studying portal and newspaper listings, or through brokers. Also, don’t forget to take into account the volatile changes in sales prices, this also gives you an idea of housing trends in specific areas that interest you. The first step you are dealing with when buying an apartment is to check your affordability and budget. You may want to check “how much you can pay” along with the existing price of the apartments in Kolkata. Remember that with every square foot, the monthly budget increases along with property taxes. Before sealing the final agreement, make sure that your apartment is legally authorized and that you have legal permits to be on the package.