Affordability & Accessibility
Whether it is under-construction or ready-to-move house, the decision of buying a home comes with apprehensions. The affordability and accessibility of both under-construction and ready-to-move-in property varies depending upon the individual’s requirement and its financial stability. If you are looking for an immediate possession and are financially stable, then you can choose ready-to-move-in property for your loved ones.
In the world full of dubiousness, there are risks involved anywhere we invest, which brings a need for thorough research. Therefore, it is paramount that you do your homework before making an investment. In an under-construction project, there is a risk involved with the quality of construction that you do not get to see while you are investing.
Legalities & Taxes
Whether you invest in under-construction or ready-to-move property, you must go through all the legal documents such as sale deed, mother deed, sale and purchase agreement, building approval plan, khata certificate, allotment letter etc. The under-construction projects are registered under RERA and homebuyers are liable to pay the GST. However, in ready-to-move property, the homebuyer can save GST and can get exemption under section 24, section 80, section 80C, and section 80EE in the same year due to immediate possession.