3 BHK Under Construction Projects In Ranjanpada 2022

From the property booking upto the possession, the point of price should increase over a period of time traditionally. Logically the ready possession projects value will also increase, but the duration for an 3 BHK Under Construction property in Ranjanpada would be more.

Let’s look at the advantages of buying a property in an 3 BHK Under Construction project:

Cost is Lower: Cost of the property is the most important matter of concern for the buyer. Cost of an 3 BHK Under Construction projects in Ranjanpada is lesser then a ready to move in property. Options for 3 BHK Under Construction projects in Ranjanpada are more as compared to ready to move in properties. Though the waiting period for 3 BHK Under Construction projects in Ranjanpada is more, but the cost is worth the waiting. It makes for the Developers mandatory to follow the time lines and deliver the project on time because of the RERA implementation. If the developer fails to deliver the project on time, then the developer is liable to pay compensation to the buyers.

Buyers should search for a genuine Developer and select best projects. Don’t just go on the cost, just because the project is costing less don’t take a decision without background check of the developer. Since the implementation of RERA, it has become very safe, secure and beneficial for the buyer to book an 3 BHK Under Construction property in Ranjanpada. With this aspect, it becomes the biggest advantage for the buyer to invest in an 3 BHK Under Construction property in Ranjanpada as the cost is low and it gradually increases adding growth to your investment over the period. For Example, from the time of booking till the time of possession, the value of the property grows, the buyer gets the property of their choice in terms of the choice of the location, flat number, unit number, facing, layout, etc. This statement was made by Mr. Niranjan Hiranandani, the President of NAREDCO.

Appreciation is Higher : The appreciation is expected to be higher as the construction is progressing and since you are buying the property at a lower cost. One should wait and keep a watch on the price of the property. For gaining higher returns on the investment, it is advisable to investment in a property by checking the project location, facilities in the nearby vicinity such as upcoming infrastructure, upcoming or existing commercial and employment hubs.

Flexibility in Payments : When you opt for a completed property, you have to make upfront payment for that property at the time of buying. There are lot of cost involved such as flat registration cost, plus there are other miscellaneous costs as well. The buyer has to just pay 10 to 15 percent of the booking amount when you are investing in 3 BHK Under Construction projects in Ranjanpada. If the property is financed, you pay the EMI to the bank else as per the construction plan. There is always flexibility for the buyer to make the payment, with a smaller amount you can book your property in 3 BHK Under Construction projects in Ranjanpada.

Newly Constructed Project : 3 BHK Under Construction projects in Ranjanpada suburbs comes with newly and upgraded construction and at the same time it is more durable for long run. Buyers get a fresh and newly made home, without any hassle of repairing, mending while moving in newly constructed project. As soon as the buyer gets the possession they can start living in that property. Buyers prefer to purchase 3 BHK Under Construction projects in Ranjanpada as new projects come along with lavish, upgraded and newly made amenities at affordable price.

Offers and Discounts on the property : When you are opting to buy a ready to move in property, there are lesser chances get any offers or discounts on the property, you get an already constructed property and you have to go with the same, you are liable to pay the quoted cost which would be as per the market price or may be higher than that as per the facilities offered by the developer. However there are a lot of options in terms of offers, discounts available while buying a flat in new construction in Ranjanpada such as Gold coins, foreign or domestic holiday package, electronic gadgets or equipments, parking plus you also have a scope of negotiation as you have ample buying options.

Taxation benefit on an 3 BHK Under Construction project : In today’s real estate scenario, the property prices are escalating constantly. But if the buyer invests in 3 BHK Under Construction projects in Ranjanpada then there possibilities to save some amount. 3 BHK Under Construction projects in Ranjanpada generally costs 20% lesser then the ready to move in properties. By investing 3 BHK Under Construction projects in Ranjanpada you will not only get monetary benefits but there are also benefits on taxation on the home loan.

Listing down the taxation benefits that the buyer avails by buying 3 BHK Under Construction projects in Ranjanpada.

1) 3 BHK Under Construction projects in Ranjanpada are available at lesser price, hence the budgeting to be done for such properties is lesser for the buyer. The EMI’s payable are also low on the Home Loans.
2) Since the EMI on the Home Loan taken is also low, the buyer can increase the amount of monthly instalments and reduce the full tenure of the Loan. This will be beneficial for the buyer to save on a lot of money on the total payable interest amount.
3) Buyer can avail the benefit of postponing the amount of interest applicable on the home loan during the pre-construction phase of the property.
4) Prior to the completion of one year of the purchase of property, the buyer has to pay 1/5th of the interest amount which is allowed to be deducted each year for next 5 years from the completion year. The interest amount that is paid during the pre-construction phase for the Home Loan of your property can be availed in these Five equal amount of instalments. If the buyer occupies the property before completing these five years, then the deduction will be limited to on Rs. 2 Lac INR. 3 BHK Under Construction projects in Ranjanpada comes with this greatest Taxation benefit.
5) There is another benefit on home loan for 3 BHK Under Construction projects in Ranjanpada, 3 BHK Under Construction projects in Ranjanpada western suburbs, 3 BHK Under Construction building in Ranjanpada, 3 BHK Under Construction flats in Ranjanpada, new 3 BHK Under Construction projects in Ranjanpada, 3 BHK Under Construction projects in Ranjanpada suburbs, commercial property 3 BHK Under Construction in Ranjanpada, 3 BHK Under Construction commercial projects in Ranjanpada, 3 BHK Under Construction projects in Ranjanpada eastern suburbs, 3 BHK Under Construction projects in Ranjanpada harbour suburbs, new construction in Ranjanpada is that at the time of disbursement of your Home Loan, the loan is structured in such a way where at the time of completion of further level of the project by the developer, the instalment paid by the Buyer lender will match the loan amount.
6) The buyer can avail tax benefits on the payments made for stamp duty and registration fees that is paid for the property.

Points to be verified before you make a buying decision for 3 BHK Under Construction flats in Ranjanpada –

RERA Compliances for – 3 BHK Under Construction projects in Ranjanpada:

It is very necessary to check if the property that you are planning to buy or invest in, is RERA Compliant, whether you are planning for 3 BHK Under Construction projects in Ranjanpada or ready to move in property in Ranjanpada. As per the RERA compliance it is mandatory for the Developer to follow the time line, so you become stress free about the possession and the project completion status. You can always track the progress happening on your project on the official website of RERA as the compliances includes of getting the approvals from Municipal Corporation, PWD, Water, Electricity departments, etc. before starting any projects new construction in Ranjanpada.

Let’s have a look on the legal aspects of the 3 BHK Under Construction projects in Ranjanpada.

You do not have to worry for the Municipal approvals if the 3 BHK Under Construction projects in Ranjanpada are RERA Compliant, as by default these are the mandatory features of the compliance. You should check with the developer for all the legal documentations required from the Legal authorities, whether they have procured such documentations or no, if at all the property is not registered with RERA. It is always advisable to go for such legally approved properties only before closing the deal with the Developer.

Background check of the Developer Company:

The biggest advantage of buying an 3 BHK Under Construction property in Ranjanpada is, you can do all the background checks of the developer before finalizing the deal. You can do the previous and existing projects validation by the respective Developer / Builder. Do a proper survey about the previous projects and existing projects. Conduct due diligence by checking all the financial declarations of the Developer. This precautions will help you in trusting the project and investment in such projects can be done with complete faith and confidence.

Site Visit:

After the complete validation is done from your end, the buyer is advised frequently visit the 3 BHK Under Construction property. So that you are assured with the commitments made by the developers and also the upkeep of the property can be monitored time to time. You can compare the existing project with the upcoming 3 BHK Under Construction projects in Ranjanpada in terms of the facilities available in the near by vicinity such as Schools, Markets, Malls, Colleges, Hospitals, Fitness Centres, Etc. so as to get an idea if it is on the same line in terms of the amenities, construction, availability, timeline and various other components.

Financials on 3 BHK Under Construction projects in Ranjanpada:

The first priority before investing in any property is the financial management. You should gather all the information about the process and the requisites for the Home Loan processing before going for any 3 BHK Under Construction properties in Ranjanpada before taking any further steps. The process of the Financial Institutions or banks includes the validation of the 3 BHK Under Construction projects in Ranjanpada you are investing in. The loan offering and disbursement process becomes faster and simpler if the developer Is genuine and prominent.

So with the help of the above checklist we can ensure that you can make a correct decision and this will eliminate all your doubts and confusions about your investment planning in any 3 BHK Under Construction projects in Ranjanpada. While you are in confusion and doubt, is it good to invest in under-construction property? We ensured that these doubts are clarified through the above checklist and that you are closer to purchase and own your dream home.