Whether To Buy A Pre-Launch Or Ready To Occupy Apartment? Understand The Facts

Some prefer to buy a pre-launched
property, whereas some like to buy a ready-to-occupy apartment. Bangalore is
one such destination of India which is experiencing rapid growth and
development. It indicates that investing; especially in the properties of Bangalore
is undoubtedly a good choice for any investor. If you are willing to buy a
property in Bangalore, you need to check the status of the construction stage
of the property. Moreover, you should understand
the pros and cons of buying properties in different construction phases. You
will find sharp price differences between the pre-launched and ready-to-move
properties. Brokers may ask you to buy new launch projects in Bangalore.
But before taking the final decision, you need to understand few facts which we
will share with you. • Price of the property: - If you
opt to buy a pre-launch property, you will get it at a lower cost. It is
because as at this stage, the developers want to sell maximum units to raise
the funds or better to say to get an inflow of money. Hence there are
opportunities to get a massive discount at this stage in addition to various
other facilities. In the initial stage of construction, builders prefer to give
massive offers to attract more people to invest. Whereas, a ready-to-move
property is always available at a higher price with limited or Nil additional
facilities. But here, you don’t need to wait a long time to get a handover. We
have noticed that if you opt for an under-construction property, you will enjoy
the benefit of cost reduction of up to 25 to 30 percent. But the waiting period
is more than ready-to-move properties, and this can affect your finances. • Tax benefits: - If you opt for
a home loan, you need to opt for a ready property to get a tax benefit. You
cannot avail of tax benefit for a home loan for an under-construction property.
The home loan has several tax benefits when it’s a complete property. The
interest amount will get a deduction under section 24(b) as per the income tax
Act. Again, the principal amount will get a deduction u/s 80C. These deductions
can be availed only for a ready-to-move property. • Cost-plus GST: - In the case of
ready-to-move property, you don’t have to pay GST. But if you avail for an
under-construction property, you have to pay 12% GST.Hence, whenever you want to buy a property, you
need to pay attention to various aspects of the cost and taxes. You can ask
your builder about the prices of pre-launce, under-construction, and
ready-to-move properties. You also need to check the tax aspects. If the price
of the properties you shortlisted suits your budget, you can make the down
payment followed by making an application for a home loan with your preferred
bank. If you want us to recommend the best real estate builders in Bangalore then
we will insist you do a Google search and check real-estate builders' news.
Visit the professional team of this builder to collect more information about
the property specifications and rates.