Investing in a new residential properties has always been a better option since you enter the investment at a very low point and appreciates your wealth over the period of time. Apart from that you enjoy five-fold financial benefits.
You get a better deal
New residential projects are always available at more competitive prices than resale properties. So, deciding on the new launch properties will get your money work more smartly. You get approximately 7% - 21% price benefits over the resale properties across the country. It’s always a better investment proposition now to opt for Tier – II cities like Kolhapur, Faridabad, Ghaziabad, Pune, Chennai etc. since the Tier – I cities like Mumbai, Bangalore etc. where the real – estate market have already been flourished to the great extent( if you are buying property only for investment purpose). Moreover, the builder’s credibility depends on the fast movement of the inventory of the newly launched residential complex, hence to pull the crowds or attract the customers he will offer a better deal.
For the new – launch residential projects you have the leverage of part – payment to the builder, which depends on the completion of different phases of the project. During the early days of the construction of the projects, you pay the builder as per the phases completed. Though you have the entire loan amount sanctioned, but till you are paying a percentage of the money and hence you are paying EMI on that limited principle amount. The EMI is the summation of both the component Interest as well as the Principle amount with the rate of interest has been levied on the Principle amount and with lesser amount of Principle, you pay less interest.
Better return of Investment
If you are looking for an investment proposition, then opting for new residential projects are definitely the best options. You get the property at the best prices on virtue of being the early bird and with the long term horizons, you mint money with it.
Chances to get your flat customized
While opting for a new launch you have the option of customizing your room the way you want within the feasibility limits e.g. you are opting for a 2BHK and you are fascinated about designing your bathroom. So, you may place a request to tailor – made your rooms as per your taste and preferences and making space to craft your bathroom as per your wish. If you plan to re – do your room on a resale property then it may cost you higher….hence in a way, you are saving those extra grand when you are opting for new residential projects.
Last, but not the least, you are earning the Tax benefits on the EMI amount under section 80 (C). The amount you pay as the EMI for your home loan is exempted from tax, thus it’s also a financial advantage you reap when you are investing in new residential projects, though all home loan EMI’s enjoy the same benefits.
New residential projects definitely come – up with certain monetary advantages, but before investing in the new projects don’t forget to check the location and the connectivity of the property with the city – centers and the availability of daily life amenities like nursing home, ATM, bank, café, restaurants, theatres, petrol pump etc. too. You may get a better deal, if the place is not conveniently positioned, but on the long – run that won’t be a good proposition, when you will want to sale the property.
To know more about the new or upcoming residential projects check out the best map based real estate portal.