Moreover, ready projects having occupation certificates (OCs) are kept out of RERA and GST, so it became easy for the builders to promote and sell these projects. This trend is quite different from the previous one which includes pushing the under construction projects as now those ones need to get registered under RERA first and there are other strict norms that builders have to follow.
Builders having under construction are now focusing on completing those and then market them. As earlier, it was an investor driven, buyers did not care whether it's a finished or an unfinished project but now it's a buyer per se market. Finished products tend to get sold quickly.
According to a data by Liases Foras, presently ready to move in properties counts about 25 percent of the country’s total housing sales. In one year, about 75,000 ready apartment had been sold across 51 cities.
Buyers are ready to pay the full down payment and get the keys as early as possible. Although the real estate market is still slow but with end-users slowly and steadily making a come back in the market and showing interest the real estate sector can hope for some good scenario in near future.