Ready To Move vs Under Construction Flats
Many homebuyers get confused with which property to buy - Ready To Move vs Under Construction Flats in Bangalore? Both options have differences in possession timelines. Here is the list of the pros and cons of both these property types,
A Ready To Move flat is a property that is built fully. It is available for instant occupancy. All the building work, including interiors, is complete. The property has got all the legal approvals. Buyers can buy the flat and move in right away without any waiting.
An Under Construction flat refers to a property that is still being built. It is not built yet, and buyers must wait till the building work is finished. The possession will take several months to a few years.
- Risk - Ready To Move flat is at low risk, as it is fully built. All the approvals are got, and buyers can verify it before making a decision. Under Construction flats are at high risk due to delays or if there are any financial issues with the builder.
- Possession - Ready To Move flats offer instant possession who need to move in quickly. Under construction flats needs to wait till the building is fully done.
- Budget - Ready To Move in flats are expensive. Under construction flats are more affordable.
- Customisation - Ready To Move flats cannot be customised as the property is already finished. But, under construction flats can be customised based on the needs of the buyers.
Deciding between buying Ready To Move or Under Construction flats depends on the priorities. If you need a home to move instantly and if you prefer a risk-free investment, then a Ready Move apartment is ideal. If you are looking for an affordable house and want to customise but can wait till the work is over, then an Under-Construction property is the best option.
If you are searching for the best under-construction apartment in Bangalore with spacious 2 and 3BHK housing options, then Godrej MSR City in Shettigere, North Bangalore, is the best option.
FAQS
No, there is no risk if you buy from reputed builders
Under-construction flats often have a lower cost when compared to Ready To Move flats.
For Ready To Move flats, there is no GST if an occupancy certificate is got. For under-construction flats, GST must be paid.
The tax benefits include the deduction of interest that is paid during the building period from the taxable income.
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