a large building under construction with lots of cranes

a large building under construction with lots of cranes

A city skyline with tall buildings in the foreground

A city skyline with tall buildings in the foreground

PROPERTY INVESTMENT

Under-construction

Ready-to-move

Property

Under-construction Vs Ready-to-move in Property: Which is better?

Advantages and disadvantages of an under-construction property

Advantages

Disadvantages

Modern Amenities: Under construction properties often come with modern, in-trend amenities or layouts, which otherwise may not be available in ready-to-move properties.

RERA Compliance: Regulatory bodies like the Real Estate Regulatory Authority assures all compliances and building bye-laws are as per safety and market standards.

Flexible Payment Plans: Multiple payment plans improve the accessibility to property purchase and reduce the financial burden.

Customisation Options: Buyers may have the option to customise aspects like interiors, floor plans, and fittings, giving them more control over their future home.

Higher Property Appreciation: The property value of an under-construction unit may increase at the time of its possession, offering better returns on investment in the long run.

Construction Delays: Handover delays or longer waiting period could be a concern when it comes to under-construction properties.

No Immediate Possession: Buyers cannot move in right away and have to wait for the completion of the construction, which could take years.

Risk of Project Failure: What happens if the developer abandons the project due to funding issues? There's always a risk that the project may be stalled or shut down.

Hidden Costs: Developers may levy additional charges in the name of development fees or increased maintenance costs once the project is completed.

GST Charges: Unlike ready-to-move options, under-construction properties attract Goods and Services Tax (GST) charges. This is applicable on top of the mandatory stamp duty and registration charges.