Ready to move in or under construction--What should you

invest in? This is one of the most common questions that

cross every prospective home buyer's mind. Thus, here

we try to delve into each aspect to wherein why are ready

to move in properties more preferable in today's scenario:

Ready To Move In Vs

Under Construction

BUY WHAT YOU SEE!In ready-to-move-in property you will get what you see and chances of

getting duped by the developer is almost nil. You can see every aspects of

the property, including its maintenance and interiors. One can easily

judge whether the project specifications match the standards promised.

Since the housing complex is ready you can visualize everything you have

wished for.

Since the property is already completed, checking the legal status

becomes relatively easy. One can check documents such as completion

certificate, occupancy certificate and list of titles etc.

KNOW LEGAL STATUS OF THE PROPERTY

INSTANTLY

In case of ready to move in property, you can immediately move into your

new house. You will immediately get the product, what you have paid for

whereas for an under-property you have to wait for 3-5 years for the

product to be delivered.

IMMEDIATE GRATIFICATION

Once you move into your new house, you will not have to pay any rent. All

you have to pay is the EMI or due loan. While in an under-construction

property, you will have to bear both EMI\Loan and Rent for a good

number of years.

SAVE ON RENTED ACCOMMODATION!

In a ready to move in property you can claim Tax Exemption on Home

Loan on both principal and interest repayment immediately. The buyers

will only be considered eligible if and only if the project is completed

within the span of 3 years, which not the case usually. If the project is not

completed in within 3 years, as per the law any such delay will result in loss

of enchanted interest deductions.

There is no service tax or VAT in case of a ready to move in properties.

TAX BENEFITS START IMMEDIATELY