Benefits of Buying an Under-Construction Apartment in Thiruvanmiyur, Chennai

Table of Contents

Chennai is a bustling metropolis known for its rich cultural heritage and thriving economy. It harbors numerous IT companies that invite people from all over the country. As a result of the IT influx, Chennai has witnessed a surge in the demand for residential and commercial properties in all parts of the city. Thiruvanmiyur is emerging as one of the prime hotspots in Chennai. Thiruvanmiyur has recently been the most sought-after locality because of its connectivity with the major IT corridors in Chennai. The locality offers the perfect blend of modern amenities and tranquility, hence the thriving demand.

 

This article discusses the multiple advantages you will get if you buy under-construction property apartments in Thiruvanmiyur, Chennai. Also, find out why investing in an under-construction apartment in Thiruvanmiyur is a lucrative option.

 

Thiruvanmiyur: A Promising Residential Destination

 

Thiruvanmiyur, a beautiful zone that can be described as the ‘heart’ of Chennai city, has gained popularity as the preferred choice of residence for modern homebuyers in recent years. Facing the city’s coast, this area has great transportation connectivity to the different parts of the metropolis that are situated along well-established road networks.

 

The essential factor that makes Thiruvanmiyur an attractive location is its closeness to commercial centers of major importance, reputed educational institutions, and top-class healthcare facilities. The location is strategically located near the IT corridor of Chennai, which makes it a good venture for the working class who seek a perfect work-life balance. Moreover, it is accustomed to famous high schools and colleges, so parents with children can easily find an excellent education.

 

The benefits of Thiruvanmiyur extend beyond its amenities and infrastructural development, including updated facilities in tune with the lifestyle of its inhabitants. The district has a shopping mall, a theme park, a temple, and a very active social space, making living a peaceful and convenient experience. Besides that, the area is characterized by good road networks, dependable utility services, and solid waste management facilities, which positively impact the quality of life of the people living in that area.

 

Owing to the area’s prime location, accessibility, and complete facilities, there has been a considerable escalation in property prices in Thiruvanmiyur. Boasting a rising status among homebuyers and investors, this locality is highly appealing, particularly for those who want to come out on top with long-term investment gains.

 

Financial Benefits of Buying Under-Construction Properties

The capital investment in incomplete properties provides several clever financial rewards that enable optimizing total ROI. One of the benefits here is that you pay less for buying an under-construction property than you pay for ready-to-move-in apartments. By making installments periodically, buyers can spend their money intelligently and thus have their outflow reduced, at least in terms of one large amount at the beginning.

 

During the building phase, the money lenders have good investment opportunities with low interest rates, so it could be easy for the buyers’ interest to obtain a home loan. This equates to sizable deductions from the interest payments throughout the loan tenure, which can be devoted to other investment possibilities or needs such as expenditures.

 

Another strong pull factor of acquiring properties under construction is the possibility of getting more than the initial money back. The area develops the surrounding infrastructure, and as the property becomes closer to completion, its value may rise by a large margin. This could lead to a massive benefit for sellers who would be ready to foreclose their units before completion or have them as long-term investments.

 

Investors in construction properties deduct some tax amounts on top of the many tax benefits offered, which boosts the financial value of the investment. The taxpayer may write off the interest paid towards home loans for the period of the construction under the stipulated deductions, helping them reduce their tax liability. Moreover, a few states exempt stamp duty or provide stamp duty concessions or rebates on properties. The under-construction properties will benefit individuals via these concessions or rebates, with additional savings.

 

Taking advantage of this current financial scenario, buyers get the privilege of doing better in their investment, and decreasing the total cost related to property investment is the key factor to be considered. Carefully assessing the concern for due diligence as well as the control of decisions involved in the investment in under-construction properties can prove to be a financial benefit in the long run.

 

Customization Opportunities

 

Taking ownership of an under-construction property offers the golden chance to have a hand in designing the constraints of the living space in line with personal taste. During the construction process, buyers can easily make decisions on different aspects of the design that are compatible with their way of life or other specifications that they may have on their bucket list.

 

The residents can tailor their apartments by picking the finishing selected for every room, including the floors, walls, and bathroom fittings. You will get a chance to tailor the property to your style and taste at this level of customization, which means you will not have a cookie-cutter home. Instead, you will be able to create a living area that represents you.

 

The major advantage of new construction properties is that they will be equipped with systems for energy efficiency and smart technologies. The buyers will be able to choose eco-friendly materials, energy-efficient round insulation, and sustainable energy options, e.g., solar panels or rainwater harvesting systems, for their homes. These more eco-friendly choices are not only responsible for furnishing a green life, but eventually, they aid in savings on utility bills as well.

 

During the construction phase, smart home technologies can be integrated to provide wireless connectivity and automated control over the lighting, temperature, security systems, and entertainment via the use of the app. This individual amount of customization promotes the value of the property and the appeal of the house, and it also boosts the welfare of its residents.

 

What is more interesting is that the buyers have a chance to make a living space that is their dream, reflecting their style, way of life, and desired future conditions. Such unique touches not only add to the beauty but also help get a good return as it can be resold at a very high price, hence making under-construction properties a perfect choice for those who need customized living conditions.

 

Customization Opportunities

When acquiring an apartment in an unfinished building, buyers might have some fears connected with the availability of high-quality craftsmanship and its delivery on a promised schedule. Although the real estate industry in India is highly regulated by the law and enforced by several guidelines that serve to bring transparency and greater accountability to the construction process, its prospects still appear to be promising.

 

The Real Estate (Refer to Development) Act, 2016, RERA, made significant changes to the way the real estate sector functions. The act gives this debt, which is a legal requirement of every project to provide comprehensive project details, work efficiently and fast, and maintain an account for project funds separately for the financial transactions’ transparency.

 

The basic necessity of the regulatory regime ensures quality assurance, however, prospective tenants need to carry out due diligence and delve into a developer’s track record as well. Reputable and established developers prioritize quality construction, compliance with a delivery schedule, and customer satisfaction. A thing that is usually the first to get into action, having a background of successful projects and a strong position in the market, is credit.

 

These decentralized platforms offer numerous perks when purchasing from their developers. At the same time, they use skilled workers consisting of qualified architects and contractors who fulfill precise industry best practices and quality requirements. The fact that they choose strong construction materials and implement the highest quality control measures is often the main reason why skyscrapers have such a long service life and high survivability.

 

Leading developers would also make a major contribution to completing their projects ahead of schedule, avoiding delays, and decreasing the expense of the buyers. They also, similarly to what is mentioned above, offer a whole range of after-sales ready-made products, which means that all problems and concerns are resolved as a matter of priority.

 

Investing in ready-made projects from distressed developers is safe in the sense that you already know that you are dealing with someone who is not only reliable but also genuine as well. acquisition of such property comes in many forms if one goes through the right due diligence process and conforms to regulatory requirements. As a result, the investor will enjoy the benefit of a prime property purchased at the right time for a reasonable fee.

 

Looking for an Apartment in Thiruvanmiyur?

Take a look at our upcoming project, ‘Isha Geethanjali’, ideally situated at L.B. Road, Thoruvanmiyur. It offers a tranquil and blissful experience close to the beach. Our project encompasses all the major amenities, such as schools, colleges, recreational centers, and shopping malls. Isha Geethanjali features luxury 3 BHK apartments at reasonable costs. Contact us for more details. Book your slots now!

Who are we?

We are Isha Homes, one of the top builders in Chennai. We have been spreading smiles on families’ faces, over the past twenty years. We boast of helping more than 3500 families and have 30 successful projects under our belt. We are committed to making people’s dreams of owning a house and property come true. Our extensive portfolio showcases our completed projects.

 

Give us a call and book your s

Compare listings

Compare
Isha-Homes-Logo
Isha-Homes-Logo
Isha-Homes-Logo
To Buy Flats/Villas/Plots
For Career Opportunities
For other enquiries
To Buy Flats/Villas/Plots
For Career Opportunities
For other enquiries
Isha-Homes-Logo

Share your specific Enquiry with Isha Homes!

Kindly mail your resume to
[email protected]
Isha-Homes-Logo

Enquire about vendor partnerships with Isha Homes!

Kindly mail your resume to
[email protected]
Isha-Homes-Logo

Discover partnership opportunities with Isha Homes!

Kindly mail your resume to
[email protected]
Isha-Homes-Logo

Explore exciting career opportunities with Isha Homes!

Kindly mail your resume to
[email protected]
Isha-Homes-Logo

Explore exciting career opportunities with Isha Homes!

Kindly mail your resume to
[email protected]
Isha-Homes-Logo
Call
Enquire Now