Things to Know Before Purchasing a Ready-to-Move-In Apartment

Table of Contents

With news of postponements in project constructions and many incomplete projects being scrapped off by the government doing the rounds, it is certainly better to think about investing in a home where constructions have been completed already.

Compared to the under-construction and pre-launch apartments, a ready-to-move-in apartment ensures that a buyer, does not have to go through any of the risk factors and can move into the apartment immediately once the purchase procedure is completed.

Listed below are some of the benefits and facilities that the ready-to-move-in apartments offer:

  • In case of an under construction project, the buyer need to make wild guesses about how the project will turn out, basis on the floor plans and master plans. It can be a bit difficult to visualize the qualities of the amenities and the exact unit purchased. However, on the other hand, with the ready-to-move-in apartments, you can see the layout and view of each room along with the various facilities before you go ahead and make the purchase decisions.
  • In case of an under-construction property, you may have to wait for certain period of time before the ultimate handover day arrives. This can get a bit challenging in case of project delay due to unexpected circumstances. On the other hand as the name suggests ready-to-move-in apartment will ensure that you do not need to wait at all for getting possession.
  • By making investment on the ready-to-move-in apartment, you can easily avoid to pay the rent of the home along with the pre-EMI charges at the same time.
  • By opting for ready-to-move-in apartment you can avoid at least one form of taxations out-and-out, as the Goods and Service Tax laws is all set to exempt completed properties from Service Tax.

So, it can be said that it is obviously better to invest in a ready-to-move-in apartment.? Although most real estate developers only advertise their under-construction projects or proposed projects, if you are looking for a ready to move in one, you must try searching on your own. You can easily go online and check for Chennai apartment sale or for that matter apartment sale and mention the city or locality where you wish to buy the property. That ways you will get a rough idea about the projects that you can check out.

However, the choice should always depend upon your requirement, urgency, and budget. Ready to move in flats are ideal option when you are paying hefty rental and have a hurry to buy your own property. If this is your second property, you can give it on rent to pay EMIs. In brief, ready to move properties have their own plusses provided you have an amount ready for down payment and a home loan that is approved.

Recent Blogs

The cities of the north, as well as the south, are witnessing a boom in the real estate sector. The reason for this exponential increase in the number of real estate projects can be accredited to different factors. Among numerous cities in the country, Porur is one such city. Mentioned below are 5 reasons that why
Read More

Home buyers often prefer purchasing apartments which are units of high-end residential complexes, not only for the flat design and specifications, but also for the amenities provided by the real estate development firm. Renowned real estate development firms offer their customers numerous amenities such as multipurpose hall, gymnasium, twenty-four hours power back up, and many
Read More

Guide to the Apartment registration process Description: Registration of property involves a certain process since it gives legal rights over the property to the buyer. This blog acts as a guide for the registration process. Buying an apartment or villa is a long and tiresome process, but it’s also satisfying since you’re investing your hard-earned money in an immovable
Read More

Floating Home Loan Vs Fixed Home Loan Interest Rate – A guide Taking a home loan in Chennai is one of the most significant financial burdens people incur. Given the extended repayment period associated with these loans, borrowers are constantly seeking ways to minimise their monthly instalment (EMI) payments. Imagine having to put down such a large percentage of your
Read More