Five Reasons to buy a ready to move in flat

 

The prices of flats in cities are fluctuating. Especially when you are thinking to buy a ready to move in flat. Also, in cities like Bangalore where there are many upcoming projects. Yet, Bangalore has enough inventory of ready to move in flats.

In the last couple of years, the prices have either been below or stagnant at a certain point. Even then home buyers are still in two minds of buying a new apartment. The first reason is either the project is being delayed for completion, or there are hidden charges buyers. This brings a lack of confidence amongst buyers.

Here we discuss 5 reasons to buy ready to occupy flat in Bangalore.

1. Tax benefits.

There is a huge capital tax gain in ready-to-move flats. In some places, if there is a delay in possession of the property, then you will have to pay huge capital gains taxes. This does. Thera is no GST also. An under-construction flat attracts 12 percent GST. So, if you buy an under-construction flat worth Rs 60 Lakhs, you will have to pay Rs 720,000 as GST.

2. Rental earnings and savings.

The primary benefit a homeowner will have is not having to pay any more rent. If you have purchased a ready to move in flat, you have a house of your own in a city like Bangalore. Needless to say, you do not have to pay rent, years together. The other way of seeing this is that you have an opportunity of creating another source of income if you let out the flat for rent.

3. No waiting periods

You need not wait for long periods of time for your flat to be ready. Also, you need not pay rent for the house you currently stay at & the EMI’s of the flat you booked. If you buy a ready to move in flat you get possession of the house, and can immediately shift from your previous house. Hence, you need not pay money at 2 different places.

4. You see what you get.

That’s again an added advantage for a person buying a ready move in flat. You can also physically inspect the structure for its quality and finish. You need not think or worry if the flat is going to turn out as how you’d imagined it to be. There will be a huge void if it doesn’t, after all buying a house is a milestone in the life of many and it is a one-time investment. Hence rather make it wisely.

5. No Legal implications

You never know when there might be a legal implication on a project which may lead to a stand-still. If something like this happens it is the buyer who loses money. Suppose you book a flat in a project by paying 23% to 30% and the project is stopped due to legal issues. It is a nightmare for many. This is not an option in ready to move in apartments because you are well aware of the documents and NOC’s during time of purchase. If you feel there is a problem, we suggest you consult a lawyer and then take the final call.

To conclude

We at SGR Buildtech are coming up with various projects across Bangalore, to fit the requirements of an array of home buyers, follow our website for more details on upcoming projects.