Buying a flat in Mumbai? A question every home buyer comes across while house hunting is whether to buy a ready-to-move home or one which is under construction. A mesh of issues surrounding purchasing property confuses buyers, thus you should buy a home only after being completely assured about it.
Hence, here is an analysis of both the options.

Under construction project:

Lower Cost – An under-construction property is relatively affordable when compared to ready to move property. The buyer has to pay down payment, which is around 20 percent as the booking amount and rest is paid in form of instalments as per construction schedule.

Higher Appreciation - Buying an under-construction property usually yields a higher return on investment due an extended window period between the buying stage and delivery timeline. If you sell the property closer to possession, you stand a good chance of earning a healthy appreciation on your capital investment.

Payment Flexibility & Customisation - In under construction, usually a buyer gets several payment plans, which includes construction linked plan, down payment plan, 30:70 scheme, 20:80 scheme to name a few and can be customised as per the buyer. Not only this, few developers allow customisation of the flat as per individuals requirements. However, this solely depends on developer to developer and project to project.

Ready to move project:

Immediate Availability – It brings peace of mind as there is no scope of the project being stalled. The incidents of delay in completion of projects have increased tremendously in the past three to four years. For a ready to move property all you have to do is make the payment, sign all the documents and get your luggage transported to the new flat.

What you see is what you get - In ready to move in properties, one does not have to compromise on quality or design layouts. As the unit is ready for you to inspect before you finalise the purchase, there is no risk of discrepancies with the promised layout, features, and amenities, among other important things.

No GST - Taxes play a crucial role in property-buying decisions. Currently, a buyer does not pay any GST while purchasing a Ready To Move house. An under-construction flat, on the other hand, attracts 12 per cent GST.

Buying a home is exciting and yet tedious and thus Horizon Promoters India Ltd. offers home buyers with 1bhk, 2bhk & 3bhk homes which are OC approved, MahaRERA registered and affordable.