Bangalore has one of the fast growing real estate markets in India. As more and more IT and other companies set up base in the city, there is an increasing demand for commercial as well as residential properties. The substantial growth in job opportunities results in an expanding employee base and migrating job seekers. They all require affordable and easily available housing units closer to their work places. Most of the home seekers prefer ready to occupy flats in Bangalore rather than invest in under construction projects. Here are the top 5 benefits of buying ready to move flats in Bangalore.
- No need to wait for end of construction
One of the major advantages of a ready to move apartment is that there are no construction delays. Usually in an under construction project, the buyer pays the money and wait indefinitely for the project to be completed. Delays occur due to reasons like land disputes, denial of permissions and licences, cash crunch, non-availability of materials, price hike, etc. Even when the project is completed after the stipulated period, some of the promised amenities are never delivered. In a lot of cases, the flat owners are still waiting for the covered car park or the swimming pool that the builder had highlighted in the project brochure. A ready to move flat poses no such issues to the buyer as the property is ready to purchase at any time.
- Immediate possession
When you buy ready possession flats in Bangalore, you get the property once you pay the price. In the case of under construction projects, a series of steps need to be completed before you can own the property, and it takes a lot of time as well for the project to be completed. Ready to move in flats provide the flexibility to buy when you want. For a person with ready to dispose funds, a ready possession flat is the ideal choice.
- You get what you see
Under construction properties often fail to deliver the features, facilities, and utilities shown in the brochures and projections. The final product may be different from the plan given to the customers. When you buy a ready to move property, you are getting what is already there, and this makes it easier for the buyer to evaluate the features. Construction quality can be checked before purchase.
- Financial benefits
Ready to occupy properties save big on rental and travel charges as the buyer can possess the property immediately after purchase. Another financial benefit is the savings in interest rates on home loans. In the case of under construction projects, tax benefits are reduced if the project is not completed within the stipulated time.
- Prior knowledge about the neighbourhood
When it is a ready to move in flat, you already know who your neighbours are. You have a clear idea about what kind of people live in the same building, what their professions and economic conditions are, what kind of communities and groups they interact with, etc. You can also verify the facilities in the location of the project, the social and physical infrastructure available in the area, ease of access, and many other factors that affect the quality of life.