2 mins | Trends | 15 June 2021
Owning a home offers a sense of security and stability especially in emergencies / uncertainties such as the covid-19 pandemic. Post the crisis, home buyers have realised the importance of owning versus renting and the benefits of living in integrated developments that offer larger apartments, lifestyle amenities, and ample external space in the form of balconies or lush green landscape.
However, whether to choose a ready to move in project, project nearing completion, or newly launched project, the choice depends on the customer’s purpose of buying the apartment (end use or investment), their financial ability, and the time of purchase. A customer signs the biggest cheque of his life while buying a home, be it for end-use or investment, hence it is a big financial, emotional, and social investment.
Nevertheless, it is always helpful to know the essential factors before making the final decision.
|Sr. No.||Under- construction||Ready project|
|1.||The project takes time to complete due to various approvals and unexpected changes in rules & regulations||The customer can move in immediately|
|2.||Projects are offered with several financial / payment schemes.||Select projects offer flexi payment scheme; Oberoi Realty was the foremost developer to offer this scheme for a ready project|
|3.||Homebuyer gets the flexibility to make payments over a period of time||Homebuyer has to make the payment immediately before moving into the project|
|4.||Projects are RERA complaint and hence offer complete transparency||The home buyer is fully aware of the title, ownership, and legal status of the project, as the project is completed RERA compliance is not compulsory|
|5.||Homebuyer can select the apartment of their choice in terms of view, floor, Vaastu etc.||Homebuyer has to select apartment only from the available inventory.|
|6.||Buyers get the option to customise their apartments in select internal fittings & fixtures||Customisation of internal amenities is not possible as the construction is complete|
|7.||The customer gets the benefit of higher appreciation of the property as it is bought at a lesser price than the current market price but as the project progress the price increase and hence enables better ROI||As the project is already complete the homebuyer has to pay the appreciated price|
|8.||Buyers have to pay GST and requisite taxes for the property||No GST implication|
|9.||Loan facility depends on the project viability and construction progress||Easily available if bought from a reputed brand|
|10.||Approvals may take time which can impact possession schedule||All approvals in place|
Buying a home is a dream come true and the new trend clearly implies that homebuyers are specifically looking for spaces that offers quality life, cherishable memories, and togetherness.
Since the onset of pandemic, the need to have a safe and secure environment for one’s family has naturally become the top priority for every home buyer. At Oberoi Realty, we have a range of projects at various stages of construction, price segments and locations across the Mumbai skyline, with a guarantee of quality construction, promise of delivery, and an upgraded lifestyle.