While choosing a flat for purchase is not an easy task, what further adds to the dilemma of homebuyers of luxury flats in Chennai is multiple advantages and drawbacks that are inherently linked to under-construction homes and ready-to-move-in units. However, other factors, for instance, quality of construction, financial gain returns, and so on, in many cases, offset the all-important factor of cost.
An under-construction home anywhere in the property market across the country is invariably lower in price as compared to that of a ready-to-move unit in the other project similar in size, scope, location and amenities.
Positive Points of Under Construction Property
You start paying slowly & conveniently
The best part of Under-construction properties is that it’s affordable for many people through a home loan. When we say “affordable”, all we mean is that from a payment perspective life is easy. You make a down-payment which is generally 20% of the property price and then start making the monthly EMI’s every month and this is how a lot of people can own the house. Later after a few years, tons of people feel comfortable as their salaries go up, but the EMI’s value is extremely equivalent. Even if one isn’t taking a home loan, they can pay the money in parts because it is often construction linked payment.
Good scope of Price Increase of luxury flats in Chennai
Construction properties are generally in the outer area’s or the non-core part of the town and hence the worth appreciation thanks to future development is good in under-construction properties. However, this is not true in every case. You still have to look at the location and plans around that area. But the point is that compared to ready to move in apartments, under-construction properties have more potential for a price increase of luxury flats in Chennai.
Positives Points of Ready to Move Property
You buy what you see
When you buy Ready move properties, you exactly get what you have seen. There are not any chances of getting duped a minimum of in those things which you’ll feel and knowledge. This is not in the case of Under-construction properties, because you never see the particular thing, you see samples or the “projections”. It’s a good idea to talk to the people around or the neighbours about the water/electricity and other things and take their feedback.
Immediate relief from Rent & travelling cost
A lot of people who are paying very high rent or travelling very far for their work tend to buy the ability to move luxury apartments in Mylapore because they need immediate relief from the high rent or travel cost and one can get it ready to move properties such as luxury flats in Chennai.
You’ll know what kind of people live around you
This is one big advantage of ready to move in 3 bhk flats for sale in valasaravakkam. You can already see who your neighbours are, what community they belong to, what income level they need and if you’d wish to be with them or not. In the case of under-construction houses, you are never sure what kind of people will be around you.