What Are The Perks Of Investing In An Under-Construction Residential Project?
Nothing can compare to that moment when you take a step to buy your dream home! Excitement is all that you can feel and you just want to move into your new home as soon as possible and create corners you have pictured all along. But some things are worth the wait, just like your 3 BHK premium apartment for sale in BTM layout or any other neighbourhood, for that matter.
Buying a home is a milestone for sure, but that’s why you should not be hasty about it. As much as buying ready-to-move flats in Bangalore for sale is tempting, it is best to take a moment and understand the banes and boons of both under-construction and ready-to-move-in properties. There is no doubt that ready-to-move-in properties are an excellent option, but buying an under-construction project has its share of benefits. For all those homebuyers who are clear as mud about investing in an under-construction residential project, here are a few perks you should take note of.
Low Prices: Unlike ready-to-move-in properties, under-construction projects are priced at competitive rates. The difference in pricing between ready-to-move and under-construction properties is such that it makes it worth the wait. Also, when buying an under-construction property, you don’t have to worry about the lump sum needed to be paid straight away to the builder. There are low payments in the initial stages of the construction. Typically, you will have to pay 5 percent of the property value as the booking amount and 10-25 per cent in the next three months. The remaining 75 per cent you will have to pay as the construction progresses, making it an excellent advantage.
High Returns: Thanks to the gap between the buying and delivery stage, under-construction properties are said to offer higher returns on investment. As the construction progresses, the price of the property appreciates too. Although, the appreciation value of the property also depends on other factors such as the neighbourhood, amenities, services, employment hubs, etc. All these factors add up to the appreciation value and demand of the property, giving higher returns.
Excellent Offers: Now, who wouldn’t want offers? If you go for a ready-to-move-in property, the chances of getting any offer or discount are close to zero compared to an under-construction property. This is because the homebuyer is required to pay the market value or maybe higher, depending on the amenities and facilities that come with the property. Whereas with an under-construction property, there are numerous attractive offers and discounts you can avail of which include special discounts, festive offers, discounts on premium flats for sale in Bangalore and other Indian cities and foreign trips, to name a few.
Tax Benefits: For homebuyers who have applied for a home loan, you can reduce the interest paid during the construction phase. You can claim a deduction of interest in five installments starting from the year the property was acquired or completed. This is in addition to the deduction from the house property income. The maximum eligibility cap continues to remain at Rs. 2 lakhs.
Customization: If you don’t like something in the 4 BHK apartment in BTM layout or whichever area you buy a house, some established developers make changes as per request at a nominal cost. Whether it is adding an extra slab in the kitchen or upgrading the wardrobes in the bedroom, the possibility of customizing your home in an under-construction home is higher.
Apart from the above reasons, you can also choose the floor, view and direction of your home as per Vastu in an under-construction property. Now, isn’t that great! Cornerstone Akhinta Residences is a luxury property, offering premium flats for sale in Bangalore. This premier property by Cornerstone Akhinta builders has a lot to offer, from best-in-class amenities to elegant finishes and sustainable features to superior construction quality. Situated in a prime neighbourhood of Bangalore — BTM Layout — Cornerstone Akhinta is a fine choice. Visit the property today!