Homes which are ready to move into have several specific benefits which clearly make them a favourite for buyers. With the ongoing COVID-19 pandemic in the backdrop, it always makes more sense to opt for a ready to move property since buyers will get a major breather from paying both the home loan EMI for a property that is being constructed along with their monthly rent. With zero risks of delays with the project, buyers will also stay safer from any overruns in costs which are a natural outcome of such delays as well.
Sumit Jain, Principal Partner, Square Yards, feels that the coronavirus pandemic has pre-poned home buyer aspirations and dreams with the highest traction being observed in case of ready to move properties. Those seeking an improved lifestyle with suitable wellness and health oriented amenities are now deploying investments in ready to move units. They are doing this to avoid the time wastage that comes along with investing in under construction properties which miss their deadlines for construction in most scenarios.
Buyers remain more confident about the amenities offered, property type and future potential of any residential project, whenever they view a ready to move property. They also get a good idea of nearby shopping centres, the residential area and other necessities. While purchasing a ready to move unit, buyers may also expect attractive benefits on taxes including the GST waiver and service tax, which may help in lowering the overall outgo.
In fact, investors can start getting rental income almost immediately from a unit that is ready to move into. With more developers offering attractive WFH (work from home) benefits like dedicated office/working areas, free Wi-Fi and better equipment at ready projects, many buyers also took note of the record-low rates of interest and decided to take the plunge. What have also changed are the purchase criteria, i.e. many buyers are buying homes away from workplaces in the aftermath of the pandemic.
