The residential real estate market is booming, and numerous development projects are currently underway, giving investors a variety of options. Despite the availability of several under-construction projects, large numbers of buyers are opting for ready-to-move-in flats. Here are the top five reasons to buy a ready-to-move-in flat:
Speedy possession – Ready-to-move-in flats are, as the name suggests, available for immediate possession. You can move in into your completed property with no waiting period and no fears of delay of possession. This waiting period can be as long as five years, an agonizingly long wait to move into your dream home.
What you see is what you get – In a ready-to-move-in flat, the dimensions of the flat, fittings used, etc., can all be easily viewed. Your home is physically present, and you can make any desired changes before moving in. With a ready-to-move-in flat, you have a clear idea of how big the flat is, the size of the rooms, and the layout. An under-construction property, on the other hand, will show you the layout on paper, which is often difficult to visualize.
Community – When you invest in a ready-to-move-in flat, you can view the surroundings of the unit, the community, and the locality. This will give you a clear picture of the compatibility, shared interests, and also the safety of the premises.
Tax benefits – On a ready-to-move-in flat, tax benefits can be availed of on the principal and interest payments upon possession. This is a significant saving and is an important factor that can swing anyone into investing in a ready-to-move-in flat.
Income generation – Because there is no waiting period for possession, these properties can be immediately rented out to tenants, generating income. From purely an investment point of view, the property can be easily sold as it is a tangible, physical asset.
Tata Carnatica prelaunch residential township at Devanahalli, North Bangalore.