Nabil Patel DB Realty - Ready-to-move-in Flats Or Under Construction Flats : Which Is Right For Youby Ankita Sehgal Freelance Blogger, Lives in New Delhi
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.
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.
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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Created on Jun 28th 2019 01:51. Viewed 419 times.