‘Under-construction’ in Delhi NCR or ‘Ready-to-Move’ at 30 minutes drive, which one is a safe bet?
September 27, 2018
‘To buy a ready to move apartment or to invest in an under construction property’ is a never-ending debate among the buyers. Both the options have their own pros and cons, and since both of them satisfy different desires, it is necessary to know which one suits you. Here are some facts that will help you decide.
When it comes to investing in an under-construction project, there is always an element of risk involved. It is not a hidden fact that many a times developers have failed to deliver on time or even deliver at all due to fund crunch, increase in lending rates and so on. There is also a high possibility of not receiving the promised product, i.e., low-quality material and even deficient amenities.
Whereas, in ‘ready to move’ apartments, as the name suggests the buyer has a prime advantage of moving in immediately. Besides, there is no such risk, as you get what you see. In comparison with under construction unit, the buyer knows what they are paying for. One can always inspect before making his mind regarding the purchases.
Indeed, the ‘under-construction’ projects have some advantage over the ‘ready-to-move-in’ properties in terms of overall cost. A developer may charge certain premium for the ‘immediate delivery’ of the project. Therefore, in case you plan to buy an ‘under-construction’ project due to cost factor, you may look for properties which are to be delivered in next 6 to 9 months. This way, you save on time as well as money and the risk factor is also minimized to a certain extent.
Pockets like Raj Nagar Extension, Modi Nagar, Dwarka Expressway, Bhiwadi and Greater Faridabad have many such properties. Raj Nagar Extension and Modi Nagar, in particular, offer these ‘ready-to-move-in’ properties on a very affordable rate. If you are a first-time home buyer, Raj Nagar Extension and Modi Nagar are your best bet.