One of the most troubling questions for homebuyers is, whether to go for an under-construction properties in Ahmedabad or a ready-to-move home? Since real estate developers in ahmedabad provide both types of properties and both have their own pros and cons, it is essential to know and understand it before making a decision.
After covid-19, buying an under-construction property has become a trend as it is the easiest way to own a dream home. This option of course comes with many risks and one of them is delayed possession. But again, these types of properties in ahmedabad go way quicker than any other cities because of reputed real estate developers in ahmedabad.
Advantages of Under construction property
Budget-friendly:Under Construction property prices in Ahmedabad are always low. Here, many factors affect the price, such as location, property type, and builders. The difference in prices can vary from anywhere between 10-30%.
Higher return on investment:There is an extended window between the possession time and construction time. After buying an under-construction property, one can always sell it off at a higher price in the later stage. The highest yield comes by selling it after the completion.
Disadvantages of under-construction property
A high amount of risk:In any investment, there will be a risk and under-construction properties are the same. There have been numerous cases where builders failed to deliver the project on time. And in some serious cases, small-time real estate developers in Ahmedabad failed to deliver the project at all. But this risk can be reduced by opting for a reputed builder that has a record of delivering properties in Ahmedabad on time.
Promised Quality:Small-time builders tend to lure homebuyers into a bad quality product by making false promises. And there is no way to know about this peril for an under construction property. Usual problems include lesser usable areas than promised, changed layout and deficient amenities.
GST Implications:Buying an under-construction property will increase your purchase price. It will include stamp duty and registration charges on top of heavy expenses on taxes. Affordable homes are priced under Rs. 45 Lakhs but it attracts 1% GST of the total price of a property.
Apart from these, there are many tax regulations that affect the buying a property in Ahmedabad. The irregular behaviour of the real estate industry of India is one of the major reasons home buyers prefer ready-to-move-in homes.