Which would be better option to buy, ready to move in or under construction or prelaunch ?

Q: Hi i m planning to buy a apartment. Which would be better option to buy, ready to move in or under construction or prelaunch ?

Javed,

10th September 2013

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Replies (10)

In Chennai, I heard that there was a steady growth for under construction property. What you have to say about it?

Yugesh Gowda, Chennai

15th November 2016

Comment

Yeah even I have read that under construction properties in Chennai has seen a steady growth in the last 11 months. The reason behind the upward trend can be many.

Lokesh Patwa,

15th November 2016

Home buyers who have a fixed budget should go for ready to move in properties. According to research, ready to move in properties are more cost effective when compared with under construction properties.

Lokesh Patwa,

15th November 2016

Comment

I think you should go thorugh this article which might help you Under Construction Property Versus Ready to Move in Property
Ready-to-move-in vs under construction home

David Oomen Mathews, Kochi

10th October 2015

Comment

I heard that in the last three years, the price of Under-construction properties in Hyderabad has gone up by 3% than ready-to-move-in properties. :( :(

Ramesh Hegde, Hyderabad

6th June 2016

I am looking for a ready to move in project. Can you please tell me what is the drawback of a ready to move in property?

arjun kumar, Bangalore

6th June 2016

The most important drawback of resale property is age. Since it is not newly developed, you need to ensure that the selected property should not be more than 10 years old.

Ramesh Hegde, Hyderabad

6th June 2016

Is Demand of ready to move property score over an under-construction property?

Krishna gowda, Kochi

9th October 2015

Comment

Hi Krishna, Personally I would preferred ready to move property due to various factors such as immediate rental income, lower risk and immediate possession.Ready to property cost high but you can avail several benefits with the investment.

V. Victor,

9th October 2015

Hi victor, could you list out few benefit that we can avail while purchasing ready to move property?

Krishna, Gurgaon

9th October 2015

Thanks krishna, Yes there are many reasons why you can choose a ready-to-move-in property over an under-construction one :
1. You get what you see
2. Low risk involved
3. No project delays
4. Immediate rental income
5. Lifestyle

V. Victor,

9th October 2015

I think ready to moves property is better thank under construct property , no dought you have to pay more for ready to moves project but buyers often invest in a new property to derive monthly rental income and enjoy immediate returns. On the contrary, in an under-construction property, it is difficult to forecast rental returns as the time of completion of project is not known.

bachu singh,

9th October 2015

Hi bachu, I do not completed agree with you. The advantage of buying ready to move in projects is that you need not have to pay service tax. you need not have to be worried about delay in project delivery and you can immediately occupy the property

Puneet Laskar,

15th November 2016

Pre launch period happens before starting of any construction activity although the builder is ready with required permissions for the project in most cases.

@Supratim Pre launch helps create a market buzz around the property and offering of discounts double up as a great marketing tool. The users are also equally eager to invest in such pre launches as it offers a good rebate on the overall costs if the project finishes as per its schedule.

Rajeev Narayanan, Kochi

10th September 2013

Comment

Thank you Rajeev for the details..:) I would suggest for all that one must check the documentation of the builder with the concerned land authorities including municipal corporations, declaration and sale deed from previous owners to other financial details of the project.

Javed,

10th September 2013

The real estate prices of any new property are generally lowest at pre launch. Such a move is done deliberately by the buyers to attract some initial interest in the soon to be launched project. Builders even offer bare minimum prices to increase the initial sale figures which can then act as a catalyst for marketing the project and increasing potential future sales. Pre Launches can be divided into two broad categories of soft launch and pre Launch...i prefer soft launch more.

Rajeev Narayanan, Kochi

10th September 2013

Comment

Can you tell me what you mean by soft launch ?

Supratim,

10th September 2013

When we see a number of builders and real estate developers marketing projects sometimes even before getting the basic construction approvals from various authorities. Such launch is known as a soft launch helps the builder attain some initial cash flow to oversee the construction activity of the projects. Such a soft launch also gives the builder a chance to evaluate user interest in the project before investing a substantial amount.The risks are equally high for the builder. Brokers usually influence buyers to park their money during such launches which may not necessarily be in their favor.Once the project is launched, pre launch buyers can make a quick buck by selling their rights to new buyer.

Rajeev Narayanan, Kochi

10th September 2013

Hey guys...so the conclusion is that if you want to buy an apartment for residing purpose in that case you should go for ready to move in apartment and if you are looking to make an investment , then go for an under construction house as it holds more scope of price increase...:)

Javed,

10th September 2013

Comment

What about prelaunch guys ? There are many people who prefer prelaunch also !!

Supratim,

10th September 2013

I think ready to move in would be better as you buy what you see, you get immediate relief from rent and travelling cost, you know what kind of people live around you.

Balwinder Singh,

10th September 2013

Comment

Yes Balwinder, at some point your are correct.. In a ready to move in apartment you have the advantage to know about your neighbors, their community they belong to, their life style and many other things which are important to make sure if you would like to live in that society.

Supratim,

10th September 2013

@Vivek, Supratim: As far as i know the main negative point of Ready to Move in Property is that a lot of legal work and documentation. An under construction property has all fresh documents while a ready to move in property has all transfer documents, so the legal work and documentation is quite tedious and takes a lot of time.Also all the money to be payed upfront: In the case of the ready to move in property all the money is payed in a go and there is no way to pay money in installments. You have to pay for down-payment, registration charges and stamp duty at the same time even if you are taking a loan to buy the property.

Javed,

10th September 2013

Comment

Yes Javed you are right at your point. But i feel there are some positives also for under construction property. As buyer starts paying slowly and conveniently. And scope to amke a choice of location and floor. This can be scene as good for investment point of view.

Supratim,

10th September 2013

Hi guys I prefer ready to Move in Property...more than underconstruction and prelaunch..!!

Balwinder Singh,

10th September 2013

In the case of the under construction apartment you generally don’t get what is promised to you. We finalize the plan of buying an apartment according to what we have seen as the sample flat. The sample flat is built and represented in a very decorative way which gives wings to our imagination, but what we get sometimes is entirely different to what is expected.

Vivek Kulkarni,

10th September 2013

Comment

Sometimes the layout is changed, no adequate storage space is provided or the amenities are not provided as per promised. In this situation the buyer has no option except taking the apartment as provided by the developer, the buyer may go the consumer court but many times the promises made by the developer are oral

Supratim,

10th September 2013