2 BHK ready to move flats in Matunga, projects Price 2022

2 BHK ready to move Homes in Matunga for sale are conventional homes that are built at a factory. These homes can be built for full basements, crawl spaces, pilings and grade beams, or pony wall foundations. Usually built in one piece, these homes use engineered trusses and are built to CSA Standards.

In the case of affordable housing 2 BHK ready to move projects in Matunga for sale, the developers can either charge GST at the rate of 8% with ITC or 1% without ITC. However, GST is applicable only on under-construction properties and if you buy a 2 BHK ready to move flats in Matunga house, you can save the GST cost.

Five reasons to opt for 2 BHK ready to move flats in Matunga flat

No risk of delay, GST and tax benefits make them an attractive proposition.

Remember, 2 BHK ready to move flats in Matunga owners may have to pay a premium compared to other ones.

The lull in the real estate market, especially residential segment, seems to have to revival in sight. Sales have come down to about 10% from its peak and developers are restraining themselves from launching new 2 BHK ready to move projects in Matunga for sale, a situation that is unlikely to change.

However, debunking the trend, a builder launched second phase of its luxury 2 BHK ready to move housing project in Matunga managed to sell about 75% of the units (376 units out of total 504 units) on the very first day. The project comprises of three-four bedroom apartments costing ₹1.6 crore and upwards.

If you are wondering how DLF was able to achieve such sales numbers, one important factor might be that the 2 BHK ready to move project in Matunga for sale is already completed and homebuyers can move in soon after buying the apartment. “2 BHK ready to move flats in Matunga homes are much in demand across the nation and the Gurugram market in no exception," said Pankaj Bansal, director, M3M Group, a Gurugram-based real estate developer. Safety of investment, cost advantage due to no goods and service tax (GST) implication and instant gratification are important demand drivers, added Bansal.

But experts believe that such models are viable only for those developers who have enough liquidity to complete the 2 BHK ready to move projects in Matunga for sale. However, due to slowdown, there is high inventory in the residential segment and there is no dearth of 2 BHK ready to move flats in Matunga flats. Moreover, in coming months, new projects with 2 BHK ready to move flats in Matunga homes are likely to hit the market.

No risk of delay

When you buy a 2 BHK ready to move flats in Matunga house, the biggest risk that you eliminate is 2 BHK ready to move flats in Matunga delay. You are not required to wait for the completion of the apartment and other amenities in the 2 BHK ready to move project in Matunga for sale.

The deadline that developers often gave earlier for completion was three years or so. After the implementation of Real Estate (Regulation and Development) Act (RERA), 2016, developers started giving a deadline of four to five years to avoid paying the penalty in case of delays. But, besides the developer’s inability and fault, there are various other risks, which may not be in the hands of developer, which can sometimes result in 2 BHK ready to move flats in Matunga delays.

No uncertainty

Uncertainty about space, size of rooms, view from the apartment, quality of construction, available amenities and fixtures can be eliminated when you buy a 2 BHK ready to move flats in Matunga apartment. For the end-user, this makes the buying process simpler. The buyer would be more assured of what he or she is buying.

Rent or EMI

You can start living in a 2 BHK ready to move flats in Matunga house as soon as you buy it. If you are someone who would find paying both the rent and the home loan equated monthly instalments (EMIs) difficult, a 2 BHK ready to move flats in Matunga home works well for you.

No GST

Even after the reduction in GST, the developers in regular 2 BHK ready to move housing projects in Matunga can charge GST at the rate of 12% with input tax credit (ITC) or 5% without the ITC. In the case of affordable 2 BHK ready to move housing projects, the developers can either charge GST at the rate of 8% with ITC or 1% without ITC.

However, GST is applicable only on under-construction properties and if you buy a 2 BHK ready to move flats in Matunga house, you can save the GST cost.

Tax deductions

According to the Income-tax Act, 1961, if a homebuyer takes a loan to buy a house, she can claim deductions under Section 80C against the principal repayment of the home loan, which has an overall limit of ₹1.5 lakh and up to ₹2 lakh for payment of interest under Section 24(b) for a self-acquired house. There are additional deductions only for first time and affordable segment homebuyers.

However, you can only start claiming tax benefits once the construction of the property is complete and you get the possession. You are allowed to claim the interest paid on a home loan during the construction phase in five equal instalments post possession. But if the construction gets delayed and takes more than five years, the maximum deduction allowed on interest payment gets reduced to ₹30,000 instead of ₹2 lakh per annum. Moreover, the principal amount repaid during the construction phase is not eligible for any deduction all.

What to keep in mind

Though there are benefits of buying a 2 BHK ready to move flats in Matunga flat, homebuyers might have to shell out a little more on such purchases compared to under-construction ones as 2 BHK ready to move flats in Matunga house generally command a premium over other under-construction properties in the vicinity.

Aside from this, in case of under-construction properties, homebuyers have more flexibility when it comes to making payments—they can either pay upfront or choose to make payments in accordance with the construction stage.

Why is 2 BHK ready to move in flat is a better choice:-

Every year taxes and accommodationcharges change due to economy’s inflation or deflation rate in case of move of property you need not have to worry about it as whole amount will be paid at once and your house’s possession will be in your name. Low risk involved in this process as you need not have to follow up builders about each and everything also less risk of fraudulent. Every month paying EMI is pressure if in case due to some financial crisis if you cannot pay EMI whole under constructed property will be lost can be resold to some other customer. But in case of 2 BHK ready to move in flats these kinds of risks are minimised. You can challenge your exemptions of tax on principle and interest on your loan amount after immediate possession.

In case you are buying this property in housing loan then you just have to pay only monthly affordable EMI for years as agreed by bank. You can always fix your budget and no extra cost later added. Icing on the cake is the buyer need not have to pay GST while buying these 2 BHK ready to move in lodgings.If you decided to move out from the property later there is always option to rent out property and place like Matunga property renting is a good deal as everyday people are looking for new places to move in temporary in terms of job, business various other reasons. In metropolitan cities like Matunga selling domicileare best option as you can find buyers any moment and property can be sold at good price.

What’s the current market scenario in Matunga for 2 BHK ready to move flats and their availability?

Place like Matunga city has 2 BHK ready to move studio demand increased and due to COVID restrictions few 2 BHK ready to move flats in Matungas were delayed this year and previous year. People do not want to take risk over completion of flats now. As a result, price hike on penthouse at posh areas which also includes Navi Matunga areas.

What are the financial and loans options for 2 BHK ready to move flats?

Government as well as private banks has home loan options as per buyer’s credibilityscore card. Also, there are expert financial institutions provide loans to buyers on bases of guarantees or guarantors. Best mortgage deals are provided to buyers. Some banks have housing loans with lower EMI or interest rate. Investorcan always compare the various options in terms of lower interest rate, loan to value ratio and time limit to repay the loan. Most of the banks have online EMI calculator so buyers can check the requirement before applying for particular home loan. Apart from banks and financial body there are various types of home loans are home construction loan, joint home loan, top up loan, loans under Pradhan Mantri Awas Yojana, Government employee’s loan, Women special consideration loan etc.

What are the major points to consider while purchasing a 2 BHK ready to move flat / apartment / accommodation /residence / studio in Matunga?

Anyone can afford to buy shelterin Matunga now days as long as you have constant income. Before taking this as a serious move few things need to be your main concern localities security and privacy factor. Whether the dwelling place, you are buying has occupancy certification by the local authorities after ensuring its compliance. Mostly apartments have various floors need to make sure lifts are properly maintained in case of emergency steps or walking aisle should be easily available. In Matunga higher, the floor higher the price which make living cost higher. Adequate network coverage also should be kept in mind when you opt for top floors. Proper light and ventilations options should be available. You will always find lot of options in builders make sure you select registered real estate agent with good reputation and track record.

Look out for future activity plans and current connectivity to transport options. Do ask builder the house area because some time their advertisement and actual area can be misleading. Before finalising the token money check original documents and also previous documents if any. If bank rejecting the loan for particular property make sure the reason why. If you purchasing old flat make sure all previous due bills are paid by previous owner. Property clearance note and NOC (no objection certificate) is must on your checklist. Never rush into buying any property just because seller is desperate to sell it due to various personal reasons, you might end up in fraudulent. One more main aspect reputed bank has a category of reliable builders and they sanction loan only for those category developers. Make sure your builders fall in their list.

After demonetizationand RERA( Real Estate Regulation Act ) Matunga’s housing market is stabilised but still demand is always more than supply. Before ending up investing on house always recognise your need, do proper research to your choice of locality, review the proposed plans and total investment if you have to pay any hidden cost later. Look for neat and transparent deals.

Benefits:-

2 BHK ready to move flats minimise the risk of 2 BHK ready to move flats in Matunga delays and it also avoids the long wait. You can have additional benefits at 2 BHK ready to move flats in Matunga mainly avoiding any fraudulent activities. It has been estimated both 2 BHK ready to move projects in Matunga for sale are available in vast categories and at low and affordable budget since last couple of years. As already mentioned at first quarter of 2018 to 2019 financial year nearly 945,964 spaces were not sold at main cities like Matunga and otherws cities of India, reported by most renowned research firm Liases Foras.

It might take nearly few years to clear the unsold units and balance the real estate market. It is a right time for you to get into the race of buying properties at Matunga. The few head start lists are as follows. Under production flats has long wait and delays in terms of 2 BHK ready to move flats in Matunga removes this risk of delay and you can literally check out the facilities and amenities which is included in the particular 2 BHK ready to move projects in Matunga for sale.

Incomplete flats always cloud our judgment as we decide according to the sample flats or based on floor plan. 2 BHK ready to move flats in Matunga you will buy what you see after checking all con and pro. You need not have to rely on samples or fake dreams showed by builders. You can personally check the apartment and amenities agreed by Mr. Ramesh Nair who is CEO and country head of JLL India. A safer neighbourhood is the mantra of happy life and safe family so you can always have an option to select your preferred area which can be among the selection between 2 BHK ready to move in flats in Matunga or suburbs areas in Matunga. Now day’s safety is the first priority that’s where the area plays vital role. A better local area, transportation, facilities always a bestselling unique point of any 2 BHK ready to move apartments in Matunga for sale.

After selection of 2 BHK ready to move in flats you can straightaway move in to your own house which you can call it home. If you are away and cannot move in immediately you can still rent that 2 BHK ready to move flats in Matunga for additional income. Few projects likes Jaypee builders, Unitech Group and Amrapali Group are under legal proceedings the buyers involved in those projects need to wait for long time before move in. 2 BHK ready to move in flats in Matunga has good rental opportunities. You just have to forecast the area in terms of future rentals.

As per Income tax act 1961 a buyer can claim principal repayment of home loan which is mentioned under section 80C with a limit extended to 2 Lakh under section 24(b) but read between the line all this tax benefits are only claimed after the possession only, also allowed to claim five instalments during the construction stage, if construction projects delays more than five years then claim amount will be reduced to 30,000 rupees per annum which will be a major setback. You will be bound during the whole project completion you are not allowed to sell your property if you are allowed to sell then you need to pay huge amount of transfer charges according to 200-500 per sq ft. Buyer need to spend bit more money from their pocket initially but it is worth it for long run.

Matunga is core business for real estate and many builders are emerging from 2 BHK ready to move in flats in Matunga, 2 BHK ready to move in flats in Matunga, 2 BHK ready to move in flats in western suburbs, 2 BHK ready to move in flats in central suburbs, 2 BHK ready to move in flats in harbour suburbs so it is very necessary to proper documentations from each location before initiating any token money. Due to severe delay lately projects demand for 2 BHK ready to move in flats in Matunga has increased and or it is better to say after the introduction of RERA and its terms and conditions has boosted the market of 2 BHK ready to move in flats in Matunga.

It has created a doubt in buyer’s mind whether to invest on ongoing projects. Rentals are very expensive in cities like Matunga so it is better to invest on own house at least the EMI or instalment you pay to bank is not waste eventually you will own the house one day once the loan amount is settled. Many experts have proven research it is very important to check all related legal documents before finalising the purchases even bank need to check their check list and ownership details before approving the home loans.

What are the documents to be checked before buying a 2 BHK ready to move flats in Matunga?

Few documents are the top lists which are as follows:

Sale Deed: It is considered as main legal document which is the record of transfer of property in your name. Each and every clause need to be read properly before signing the sale deed.

A Completion Certificate (CC): This certificate is authorised by municipal authorities after completion of project and Occupancy certificate is issued by local government which is a proof of habitation. It is a proof of project compliance by following all code of laws and safety guild line. Bank house loans are approved on bases of these two documents.

Building Plan: Blue print of the project is approved by local municipal authority which included building layout, electric, and utility authorisation. Any extra plan without authorisation increases the risk of demolishment.

Encumbrance Certificate: It is very important to check the previous bills or over dues is paid full and final before handing over to new owner and this certificate verifies all kind of monetary and legal dues.

Mutation Certificate: Buyers name will be added in government records and you are liable to pay all relevant taxes to avoid any future legal enquiries. Seek legal advice before indulge into property buying process.

Conclusion:-

Obtaining a residence is time consuming process and should be considered seriously with proper planning, moreover it should be worth it. So, move step by step while considering all check list in your mind so that amount of money should not be wasted on some bad deal. Never scoreon disputed property just to make easy money and to avoid any further family disputeslike some seller want to sell their property in lower price never fall on that trap. Ancestral properties always have legal issues so do not buy that type of properties without any verified or legal paper work.