Here is why buyers are choosing ready to move in properties

The real estate sector seems to move towards an upward direction, thanks to the interests from the home buyers. But most of the buyers are specificaly looking for ready to move in projects, so that they can immediately get the keys and move in there. Looking at the past experience and market sentiments buyers now don’t want to take risk of project completion. So here are some reasons which says why buyers are preferring ready properties.
 
 
1) Price correction: The real estate sector have been struggling from the past few years. Lot of unsold inventories, delay in delivery and possession have resulted in low faith among the buyers, but with introduction of RERA, the buyers sentiments seem to be on the track again. And looking at this, there have been price correction in the property price and developers also are coming up with attractive offers, discounts along with lot of freebies for buyers. Although the market is slow but still these tactics might work. This trend right now is at its initial stage but buyers can make optimum use of this by focusing on the ready to move in properties.
 
2) Rental costs: One of the basic reason the buyers opt for ready to move in properties is to save their money which is going out in the form of rent. Opting for under construction properties can lead to addition burden in the form of rent as well as EMI. Hence buyers these don’t mind in paying a little bit extra to get a house immediately rather than paying unnecesary rent.
 
3) Date of Delivery: The real estate sector in India is famous for not completing projects on time. And this trend is evident from the past few years now which results for buyers paying double money as rent and EMI. Hence it gets harder for them. This has also hampered the trust factor among the buyers and they doint want to take that risk. So buying a reafy to move property is better and safe option for them.
 
4) An extra income: Many investors buy home to sell it later in order to earn a bit more. They also invest to have earning in the form of rent. Therefore buying a home in a ready to move in project can help them with immediate earnings. They done have to wait till the project get completed. Its a matter of invest and get return immediately.
 
5) Protection from fake developers: Indian real estate sector is disorganised and filled with such instances where developers have duped or cheated the buyers. Usually the builders cheat buyers by collecting their hard earned money in the form of initial amount and then they get vanished. Due to RERA and its stricter guidelines fake developers seem to get decrease in number and only genuine players will be there in the market who can offer finished projects on time. Hence buyers today wants assurance of getting finished project from genuine developers.
 
 
 
6) Supporting Infrastructure
 
 
 
A lot of new projects are coming up on the peripheries of major cities where the supporting infrastructure like roads, electricity, water connections, etc. are not developed. They are promised only when the projects are completed, but under-construction projects have to wait much longer for deployment of basic infrastructure. This naturally puts off buyers, who want to move into their new homes and also start living life with decent facilities instead of waiting indefinitely for them to be provided
 
7) Impact of GST
 
August 01, 2017, 16:14 IST
 
 
GST implementation has resulted in reduced tax burden on buyers purchasing ready-to-move-in apartments. The tax on the entire cost of the project, including the land, will be levied at 12% - this should be enough for the builder to claim input credit, thus making OC-ready projects more economical for buyers.