Lucknow has been a popular destination for investments in real estate sector in the recent times. This is mainly due to its appreciating real estate which offers investors with an opportunity to buy residential homes or 2 BHK flats in Lucknow enabling them to utilize the best of the real estate growth. Interestingly, people are showing more interest in ready-to-move homes or flats and investing in such ready-made property types has some unique pros and cons which include:
A-Investing in ready-to-move-in apartment:
Pros:
- A buyer simply gets what us readily available which can be seen physically. Here, a developer cannot deceive the prospective buyer. Also, a buyer can able to check all the aspects of the property and makes the buyer to judge every specification clearly.
- With this sort of property, a buyer can easily check the legal status of the property which is considered to be a striking feature in dealing real estate properties across India. Also, legal experts find it easier while verifying all sorts of legal documents related to the property.
- While choosing this option a buyer need not pay any sort of service tax which is otherwise levied in the ongoing projects. Undoubtedly, a buyer can save lots of money while investing in ready-to-move-in apartments. With the sky-rocketing prices of properties, such a saving is a boon for the first time buyers.
Cons:
- In general, the ready-to-move properties are considered to be expensive than the under construction projects. In such cases, experts recommend the group-buying option for the buyers, which will take more time as there are more formalities are involved while buying as a group.
- EMI for the ready-to—move-in property starts with higher value to the buyers and hence this option will surely burden the buyer right from the day they buy the properties. Staggering EMI is not allowed with this option.
B- Investing in under construction apartments
Pros:
- With this option, a buyer has a wide range of option in making his or her dream home. One can personally involve in selecting the area, floor, direction etc. Undoubtedly, this option provides the buyers a plethora of choices and preferences including the choices of family members.
- While selecting this option a buyer can enjoy a lower EMI, which will certainly benefit the first-time buyers. Also, a buyer can choose a flexible payment option as per the fund’s availability and can take the construction-linked plans to suit his or her budget.
Cons:
- A buyer needs to take some amount of risk while buying the under-construction home as there have been many instances where the property promoters could not able to finish the project due to several reasons. Hence, there are few chances for the buyers to lose some money while considering this option.
- While selecting this option, there is a possibility for the promoters not to deliver things that were promised due to the high- interest rates and rising cost building materials. Sometimes buyers have to settle for the things what the promoter has handed over to them. Such things frustrate the buyers to a great extent.
If a buyer is considering to buy a ready-to-move homes or flats in Lucknow, has to remember to evaluate the pros and cons before making a final decision. Such buyers can explore some of the projects offered by renowned promoters like Paarth Infrabuild who have built Arka, many ready-to-move 2 BHK flats in Lucknow at Shaheed Path which are completed and thereby save time and money. Doesn’t sound like a Diwali offer? A smart buyer will see these ready-homes and is sure to grab this great opportunity.
Summary:
Ready-to-move property may look expensive as well comes with limited options. However, this option always helps the buyers to have freedom from waiting for long years to possess a dream home.
