Are you thinking of investing in a residential flat soon? Before you move in, you need to start planning your action steps so that the snags are taken care of.
Those of you who are willing to purchase a flat or apartment in Kolkata are often seen to be in double mind as to whether they should get a ready-to-move-in flat or an under-construction residential flat. It is natural to feel this way as both the options have got some beneficial aspects attached to them. Let’s get up to date with the pros and cons of both these types of flats.
Ready-to-move-in variants seem to enjoy an upper hand over the under-construction residential flats. Considering the volatility of the market, it would be a brilliant move on your part if you can make the necessary arrangements and purchase a ready-to-move-in apartment for you. The dividends are going to be very rich for you in the long-run.
If it is a possession ready apartment, you will have to initiate paying the EMIs of the home loan you have taken with immediate effect. At the same time, you will also have to shoulder the stamp duty as well as registration fees.
When you make it a point that you are going to proceed for the ready-to-move-in flat, you have a chance to earn a substantial amount of rentals and save costs. Unlike under construction properties, you do not have to get deprived of the tax benefits which you have the right to access.
In case you have the urge and tenacity to get into your flat with an immediate effect then there is no other option other than possession ready residential apartments or flats. However, if you can wait for 2-3 years, and prefer to pay the developer as the construction work proceeds, an under-construction apartment would be a better option.
If you get yourself geared up to grab an under-construction apartment, you might be subject to defaults as well as setbacks. It is a quite common phenomenon in the construction industry. Developers with less financial arrangements often cause delays in projects and end up in harassing customers. However, with the implementation of RERA, developers are now obligated to complete and hand-over the project in the stipulated time-frame, otherwise, they are liable to pay interest to the flat owners.
Ready-to-move-in flats would make sure that you face fewer hassles like getting them painted or decorated. When you get into an apartment of this type, you do not have to bother about anything related to the construction phase as those aspects have already been taken care of. You can choose your flat keeping a sharp eye on view, floor preference, etc.
Once you are through with the adequate market research, your mind will not be undulating anymore between the options of buying or renting a residential apartment, which is ready and happens to be in a spick and span state. You will be in a position to call the shots.
However, there is one point that you need to keep in mind as you eye for luxurious ready to move residential flats for sale. To make the purchase a piece of cake, you are going to require a legal advisor at any cost. There is a volley of legal work associated with the purchase of ready to move residential flats. You will not be able to deal with them until and unless you have a seasoned legal advisor by your side.
It is a fact that under construction, residential flats are available in a comparatively less price range but they are not devoid of disadvantages. Therefore, you need to be wary of them when it comes to a purchase. It is highly solicited that you understand your financials and decide whether to choose a ready to move-in or an under-construction project.
When it comes to real estate, every decision that includes a hefty sum should ride on proper planning and research. The whole idea is to look before you leap. Based on the value of money these days, it is always advisable to go for ready to move-in flats, because the absence of any waiting period is what that makes it a sweet deal. All you need to do is complete the paperwork, make the payment to the builder and the property is yours. Also, you get what you have been promised, and there is no scope for disappointment.