Yes, you read it write, ready-to-move flats in Bangalore have become the most coveted housing. Largely owing to the fact that they are low-risk investments as compared to under construction housing. With the premium of housing loan moving down, it makes sense for home buyers to tap into the quick possession real estate market.
If you are planning to invest in possession-ready housing in Bangalore, here’s how it can be beneficial -
Lowering of premium rates: The lowered premium on possession-ready property in Bangalore are witnessing a drastic decrease, vere recorded in the history of real estate. Market experts believe that home seekers can find lucrative deals on resale properties as well rather than buying directly from the builders or developers. The downfall has also been due to substantial rise in inventory in the resale market. As of now, home seekers can invest in quality housing projects from reputed builders at prices much lower than two or three years back.
Lead to savings: The primary advantage of booking a possession-ready flat is that you get freedom from rent. This helps you to save and turns a portion of the rent into monthly instalments in case you have taken a home finance. Frankly speaking, this was not possible in the case of under construction property where you had to shell out the monthly rent as well as home loan EMIs.
Income tax benefit: In a survey, it was found that home buyers were more keen to buy possession-ready properties than under-construction flats as the delay in possession of under construction means shelling out extra amount of money. Besides, the delay also leads to losing out on tax benefits from Rs. 60,000 to Rs. 9,000 per year.
Additional Read: 5 Reasons to Buy Ready to Move Flats in Bangalore
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