Ready-To-Move Properties
Ready-to-move properties are the most demanded real estate products on the market these days as the buyers and investors get early possession of the property. It has more stable market value, and you can start earning the rental income as early as possible. You can explore a wide range of ready-to-move properties listed on a trusted online real estate property portal. You can take the help of an industry professional to find the best possible residential properties under your budget.
Under-Construction Properties
The under-construction properties are those properties that are still in the development process and the possession of such properties is pending. These types of properties are appropriate for those investors who are willing to invest in properties just for investment purposes. You can buy an apartment, a duplex house, a residential building, kothi, or even villa. However, you should always cross-check for the brand image of the builder and developer for product authenticity.
Facts To Consider While Choosing Between Ready-To-Move And Under-Construction Properties
Real estate properties offer higher returns on investments in the long-run, and unexpected profits in the short-run. However, it is not easy to make a property buying decision when you have so many sources, markets, locations, and real estate products available for different price ranges. People often get confused between ready-to-move properties and under-construction properties. Let’s discuss some facts you can consider while choosing between the two.
1. Budget
If you are planning to buy a property, budget plays an important role as a deciding factor. It is essential for the investor to work out a viable budget that fits your demands, needs, and requirements. Always stay updated about the current market prices of the real estate products in a particular location. It will help you set a feasible budget and find the best options accordingly. So, if you have a low budget, you can opt for under-construction properties, or if you have a sound budget, you can invest in a ready-to-move option.
2. Considering Property Tax
Property tax is a big contributor. You can consider this fact that you only have to pay the applied property tax as per the Indian taxation system if the targeted property is under-construction and the possession is not yet transferred in the name of a new buyer. However, property tax is not applicable on ready-to-move properties in India. So, make your buying decision accordingly.
3. Focusing On Income Generation In Short-Term Or Long-Term
A buyer can make the property purchase decision based on either whether he wants to make short-term income out of the property, or whether he is investing in properties for the long-term income. The ready-to-move properties offer income benefits in the short-term as the possession is transferred immediate after the registration. However, under-construction properties are better for long-term income targets.
4. Loan Approval
Banks and financial institutions give instant loan approval if you are planning to invest in any ready-to-move properties due to minimum risk. However, you may have to face challenges while working out the home loan for an under-construction property as it involves great risk and chances of uncertainties. In India, many such cases are already registered under dispute cases.
5. Market Price Stability
You can consider this fact about the different types of properties while investing. The market price for any ready-to-move property will be more stable on the market than the under-construction properties. A small amount of risk is always associated with under-construction real estate products. Therefore, make your decision considering this factor.
6. Modern Amenities & Latest Features
The ready-to-move properties are already completed, and so, no further alterations and changes are allowed. However, if you are willing to invest in a property that offers modern amenities and the latest features, then you should invest in the trusted under-construction properties. These properties are still under the development process, and have great scope for alterations.
7. Physical Inspection
A quality physical inspection is possible in the case of a ready-to-move property. You can experience the actual product in-person. You can have a comprehensive tour of the current property you will buy. However, in the case of any under-construction properties, physical inspection of the actual product is not possible. There are possibilities of variations and changes.
8. Property Handover
As we have already discussed above that property handover is only possible if you invest in ready-to-move properties. The constitution is already completed for such properties and is ready for early possession. However, handover is not possible in the case of any under-construction properties. It takes months or even years to complete the under-construction real estate projects.
9. Rental Purpose
If you are investing in a property for the rental purpose, a ready-to-move property will be a better option as you can rent it out immediately after getting possession. However, it may take longer to rent out any under-construction property. You have to wait for its completion and handover formalities to take place.
10. Risks & Uncertainties
Ready-to-move properties like Beverly Golf Avenue are available on the market with low risks and uncertainties as you can experience the final product before buying it. But if you are planning to invest in any under-construction properties, there are great possibilities of risks and uncertainties.
Invest In Zirakpur Location For Better ROI
After considering all the factors, if you are planning to invest in a ready-to-move property in the Zirakpur location for better ROIs, then you can buy 3BHK flats in Zirakpur at an affordable price range with all the modern amenities and latest features. Zirakpur is a sub-city with the advantage of a strategic location. It’s proximity to Chandigarh, Mohali, and Panchkula makes it a hotspot location for property buyers and investors.
Conclusion
These core factors help you understand the major difference between these two types of real estate properties. You have to decide which property will incur more profits for you as per your investment plan. Take the help of an expert to find out the best property options in your preferred location considering your budget bracket. Analyze all factors and conditions before making the final property purchase decision.
