Ready to move- in property is that property which is complete and is ready for occupancy. When you wish to buy a house and have gathered the funds for the complete payment, you then have the best option of a ready-to-move property. In today’s fast world most of us lack the time and prefer to complete the deal in the shortest possible time. In such a condition, ready-to-move apartments are a hit in the market today.
While thinking about real estate in India, you may be perplexed by the endless options available. A right decision at this point would help you get the maximum benefit from the money invested. In this article, a discussion on the pros and cons of buying a ready possession project would prove highly beneficial in taking your decision.
You get what you see: In a ready-to-move property, you get to buy what you see. It is a completed project and is ready to be handed over to the buyer.
Easy available legal status: Since you are getting a ready and completed property, the legal status of the property is also easy to check and you can quickly obtain occupancy certificate and completion certificate as well, just when you need them.
No service tax: In a ready to move apartment, the best thing is that you need not pay any service tax for what you buy, which helps you save a lot of money on your purchase.
Get to check the neighbourhood: When you buy property in India, you need to also know about the neighbourhood. In a ready possession property, you already may have residents living there from whom you easily get to know more about your builder and quality of work.
Payment plans are not flexible: In comparison to under-construction projects, the payment plans for a ready-to-move property are not flexible. You need to complete the payment at a go, including down payment, stamp duty, registration charges, maintenance, etc.
More legal work and documentation: A lot of legal work and documentation is required when you buy a ready-to-move property than it is required in for an under-construction property.
Less scope of customization: When the flat is under construction, you have the full scope to make the rooms and house as per your requirement and preferences. But this provision is not available when you buy a property which is ready-to-move. You have to buy and stay in a home that is already complete.
Inflated cost: In comparison to under-construction projects, ready-to-move-in units are quite expensive when you actually buy them.
If you have an urgency to shift, then a ready-to-move property in India is of great benefit as an end user. These tips would be handy enough to enable you to take a decision.