5 Advantages of Buying An Under Construction Property in Hyderabad
The ever-growing IT sector has accelerated the development in Hyderabad in all directions making it one of the more preferred destinations to buy a residential property. Real estate developers in Hyderabad are well aware of the homebuyer’s expectations while searching for an ideal property. However, the main question that stays in the mind of every homebuyer is whether to opt for under-construction property or ready-to-move-in property.
Both the properties have their pros & cons.
In this blog, however, we will look at 5 advantages of buying a flat in under-construction projects in Hyderabad:
When the project gains RERA approval, the real estate builder starts taking marketing efforts. This is the time when a builder wants to sell as many units as possible. This may seem like a risk to many but if the new residential projects in Hyderabad that you are planning to invest in, are by renowned real estate builders in Hyderabad who have a proven track record, you can go ahead without any worries as you are bound to get more from these builders for much less.
2. Lower cost on EMIs
As the cost of the under-construction flat is much lesser, the loan amount & corresponding burden of the EMI is also less. Besides, you get more time to plan your finances as you do not have to pay the entire amount in one go.
3. Better choice of units & designs
When the apartments are away from possession by more than 1 year in the case of gated community apartments, and at least 6 months away for standalone apartment buildings, you have better options of the units to choose from as an early bird. Also, once you select the unit, you get all the time in the world to plan and design it as per your choice, needs, and requirements at the construction stage only.
4. Higher price appreciation rate
As the construction of a property progresses, its price increases too. Moreover, during this period, the development of the surrounding infrastructure also adds to the value of a property. This is why buying an under-construction property in Hyderabad is a wise decision.
5. New construction
When the construction of an under-construction property completes, you move into a brand-new home with no maintenance problems and long life. Moreover, you get to enjoy the latest amenities and facilities available in the market.
Apart from this, you also get various offers from the builders on under-construction homes. Earlier, homebuyers used to choose ready properties over under-construction ones majorly to avoid possession delays. However, with the arrival of RERA, homebuyers can freely choose an under-construction property as long as it has a valid RERA number and it is a project by a reputed developer.