Ready Residential Projects in Greater Noida & Noidaby Ajay Singh marketing executive
With the implementation of Real Estate Regulation and Development Act (RERA), the real estate industry, especially residential projects in Greater Noida & Noida, is seeing major changes. The enactment strictly proscribes developers from marketing their projects that are under-construction, while consenting on advertising projects that have their OC (occupancy certificates) ready. This brings buyers more inclined towards investing in properties that are essentially ready for occupancy or ready-to-move-in. There is no denying the fact that possession-ready properties are pricier than the properties under-construction. However, investors in current times are ready to invest in properties on an immediate basis, a fore waiting for years for construction to be completed. Gaur city 1st avenue price list / Gaur city home resale / Gaur City 4th Avenue price list
Following are a few reasons for investors to look for projects that are OC-ready or ready-to-move-in, in today’s real estate market: Cost differences, The last year was worst for real estate market, which resulted in lower new launches, higher unsold units, and price reductions. This forced the builders to provide their customers with attractive discounts, freebies, and deals. Although the industry is recovering from its downward phase, the above-mentioned dynamics are still at work. Hence, it makes obvious for the investors to put their life-savings in ready-possession properties, more willingly than waiting for new projects to be launched and delivered over lingering periods of time. With the gradual market recovery, the market prices have started increasing, but this increase is at its initial stage, hence it makes sense for investors and buyers to focus on OC-ready properties.
Cost of rentals, The newly launched projects are utilized by investors who use loans from banks and other financial institutions, involving substantial financial drain. Not only do the investors have to pay back the EMIs on the loan but also monthly payment of the rent for their current homes. Whereas, paying little more and acquiring the house without ado is cost-effective than undergoing two big deductions over long periods. Date of delivery, In India, the newly launched projects or the projects under-constructions are infamous for delays, these delays often result in an increase in unit costs and the rental for existing property. Despite the fact that the delays have their own justified reasons, at some point, the financial situation of some buyers do not allow them to wait beyond a certain point of time. Supporting infrastructure, Many newly launched projects are allotted with lands on the city peripheries, where the supporting infrastructure, which includes: roads, water connection, electricity, etc. are still to be developed. These infrastructure necessities are promised only when the project reaches its completion phase and the under-construction projects have to wait for the deployment of these basic infrastructural needs. This is a big put-off for a buyer who wants to move into his new home.
Created on Jun 2nd 2022 02:19. Viewed 87 times.
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