Listed below are 10 reasons to buy under-construction Apartments in Hubli.
As years pass by, real estate rates per square feet are only increasing. It’s one of the reasons we recommend you to buy a newly under construction apartment. For example, the price of an under-construction apartment in 2019 will definitely be cheaper than it’s price after its ready to move in 2021. The fluctuations in real estate prices hardly ever go down. Therefore, considering the economical factors it’s ideal to buy an apartment under construction.
When you are opting for one of the ‘new construction apartments in Hubli’, it’s more likely to get a discount of 5% to 10%. This is because of the reason that the purchase agreement of under-construction apartments is often settled at a certain discount when compared to the ready to move in.
Freedom to design
Freedom to design your own apartment is a fabulous advantage that you have access to, only if you go for an apartment that’s still under construction. This benefit is best when you buy the apartment at the initial stages of construction. If you are to make any alterations after the construction is done, it can be more expensive and could also have some adverse effects on the building.
A great investment option
The under-construction apartments in Hubli is a smart investment option for savvy investors like you. This is because of the fact that Hubli is witnessing a steady rate of increase in real estate development and its prices.
Investing in under-construction flats is a great way to earn higher ROIs. Buy apartment(s) at the earliest of construction stages possible so that you can sell it at an increased price in about a couple of years later. Even if the rates didn’t increase, a ready-to-move-in flat will naturally be priced more than one under construction. It’s more like a share market without the risk of losses.
Hubli has been marked as a flourishing investment avenue by some of the leading companies in India. Hence it’s beyond doubt that investing in the present under-construction properties here in Hubli would be a very smart move.
Ideal for buy and sell (rapid development)
As we mentioned in the above point, the infrastructural development and increasing facilities are inviting more and more working-class population to move into Hubli. As this is the initial stage of development, you can expect a higher demand for ready-to-move-in apartments in the near future. Hence, buying an under-construction property now selling it when its ready in the near future will give you a shower of returns on your investment.
RERA – Guaranteed delivery else money back!
Implementation of the RERA, Real Estate Regulation and Development Act, is a boon for homebuyers. Gone are those days when homebuyers used to get tricked by builders. The new rule strictly restricts selling and advertising of apartments unless it’s registered with RERA and the authenticity documents are uploaded on their website. With RERA in place, builders have no option to postpone or delay the promised occupancy date of an under-construction apartment. Failing to do this, the builder will have to return the whole amount you’ve invested along with interest.
Only 10% booking amount
Before signing a valid sales agreement, no builder has the right to demand more than 10% of the booking amount as advance payment. This is another rule as per RERA.
Under-construction properties are sold off easily compared to its counterpart. This is because you clearly know that it’s either going to be ready at the promised occupancy date or you’re going to get your money back with interest. So, if you have a change of mind in the future, sell it off and go for the one you like. As simple as that!