Nabil Patel DB Realty - Ready-to-move-in Flats Or Under Construction Flats : Which Is Right For You
Before deciding on a flat in Mumbai, analysing the
pros and cons of ready-to-move-in and under construction flats is crucial.
There are various implications associated with this decision. Hence, proper
analysis and planning are required.
Before finalising the decision, understanding the Real Estate (Regulation&
Development) Act 2016 or RERA is paramount. It has brought in several
developments, both for the homebuyers and real estate sector. Basic knowledge
about it is important for better decision making.
Ready-to-move-in properties
Since the advent of the new GST
structure, the RTM properties stay unaffected from GST. Nabil Patel, Director Sales & Marketing, DB Realty believes that every individual buying a property will be able to save
up to 12% GST with this. However, RTM properties cost higher and require
instant funding. Paying this amount is often not possible. They may have
benefits like instant fulfilment and the gratification of getting the property
in hand. But, chances of capital gains are very little when it will be sold.
Under-construction properties
Now that you know under-construction
properties have better chances of capital gains, investing in these properties
seems prudent. However, that is not the only benefit. Benefits such as
staggered payment plans and attractive deals are associated with them as well.
Home buyers often feared from
choosing such properties because of the risks of delayed possession,
cancellations and bankruptcies. However, RERA has minimalized the risk. The
projects launched post to the implementation of RERA make timely delivery. Developers
are required to abide by the guidelines to get their project registered under
RERA. This assures that the project is viable.
How will you recognize feasible under-construction projects?
According to Nabil yusuf Patel of DB Realty, the first to consider while
choosing a feasible under-construction project is the location. If there are
more projects nearby to that location that have not been sold for a very long
time, it is better to avoid such projects.
The article clearly explains the pros
and cons of both sides. Now, depending on your needs, opt for the type of
property.
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