Launched Project or a Livable Condition Project. Which One Should You Prefer?


Buying a home is no doubt, an expense that needs a lot of planning, both time and budget. What is the most important factor while planning to buy a home is affordability, followed by preferences and priorities.

Before you plan to buy a home, know your source of income, calculate your expenses and savings. Make sure you have enough amount for the down payment, for rest is funded by home loan. Research on the best-fit home loan product. Know your credit limit.

under construction_loanyantra.comNow decide on your priorities. Do you have a time limit? Are you looking in a particular place? Do you need multiple bedrooms in your home?

Analysis on above points will help you short-list and finalize on your property. Undoubtedly, an option keeps you in dilemma. Which staged property to buy? Under construction one or a completed one? Let us dive into the details.

Under construction property is the best if you fall short of complete investment. If you plan to shift to a new home only after two or three years. If you want to save and self-fund than get funds from any other source. If you want to have a customized finished apartment.

Planning to buy a home – Liveable condition one or under construction one.

Similarly, if you choose a livable-condition apartment, you need not worry about the on-time completion of the project. You get a finished apartment where you can just go ahead with interiors of your taste. You can plan on a complete home loan EMI with out any hassle.

But what are the points to be remembered while booking an under-construction apartment?

  • Research about the builder. Go ahead if they are known for timely delivery.
  • Decide what to choose w.r.t. bank loan. Pre-emi or no pre-emi one.
  • Get a thorough legal check done for the documents once you get them after paying the booking amount.
  • If not satisfied with the property, do not hesitate to call back your decision and money as well.
  • If you choose a pre-emi option, ensure that you keep a track on the amount disbursed in stages and the increase of EMI.
  • If there is a delay in the delivery, ensure that you are paid back the assured percentage as per the agreement.

According to the real estate regulatory authority, the builder should promote only a launched project but not a pre-launched one. So, it advisable that you choose a launched one if you choose an under-construction property.

While finalizing the project, ensure that you analyze on every point in detail and choose that fits your financial plan.

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