How To Compare The Pros And Cons Of Under Construction And Ready Possession Residential Projects

How To Compare The Pros And Cons Of Under Construction And Ready Possession Residential Projects

Understand which option is more advisable and when

Kamal ShahUpdated: Saturday, February 24, 2024, 06:04 PM IST
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Under construction projects are advisable for buyers who have flexibility in their possession timeline, prefer a lower cost per square foot, and can manage staggered payments. It’s also suitable for those looking for long-term investments with the potential for higher returns. This is also advisable in places where reputed builders come up with projects so that there is trust of certain delivery.

Ready possession projects are advisable for buyers with an immediate housing need, the financial capacity for upfront payment, and a preference for a transparent purchase process. Ready projects are also suitable for those who seek the convenience of moving in right away. This is also advised for markets where reputable builders are lacking so that project delivery is ensured.

In conclusion, the choice between under-construction and ready-possession residential projects depends on your specific circumstances and priorities. It’s crucial to conduct thorough research, consider your financial capability, and evaluate your urgency for possession before making a decision.

Regardless of your choice, ensure that you work with a reputable developer and carefully review all terms and conditions to make a well-informed real estate investment.

Ready Possession pros & cons

Immediate occupancy

Transparent purchase process

Higher initial cost

Under Construction pros & cons

Extended payment timelines

Lower cost per square foot and appreciation

Possibility of delays

Potential hidden costs

(The writer is a Director at Palladian Partners Advisory LLP)

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