There has been an exceptional rise witnessed in the demand of ready-to-move-in property over the last decade or so. This demand is to a great extent driven by the uncertainties over project completion and legal sanctions that are involved in under-construction projects. One can find especially high demand for ready-to-move-in apartments in Gurgaon, Mumbai, Delhi and other large urban centers of India that are populated by busy professionals and business people. Time is incredibly precious for the people belonging to large cities and metropolitan areas, and hence they try to save their time, hassles, and even money by opting to invest in ready-to-move-in apartments.
Here are a few points that mark the benefits of purchasing a ready-to-move-in property:
- Tax savings: People choosing to purchase ready-to-move-in property can save a good sum of money on taxes. Firstly, there is no service tax required to be paid on a ready-to-move-in property. Apart from this, such properties also provide people with a great chance to save on capital gain taxes. According to the Income Tax laws of India, people would be exempted from capital gain tax only if the money is reinvested in property within two years. Hence, in case the possession of an under-construction property gets delayed, the buyer may have to pay quite a high sum of money as capital gains tax. This problem is however not prevalent in the case of ready-to-move-in property, as the buyers can take possession of such apartments or villas just as the sale is complete.
- Rental income: One of the prime advantages of investing in ready-to-move-in property is that it offers the possibility of earning an immediate, high rental income. There are many people today who choose to buy their second or third residential property, and do not have any plans to move-in there in the near future. For such individuals, a ready-to-move-in apartment can be a great source of rental income. The buyer can rent out such properties as soon as its sale is processed and completed and subsequently start to earn a steady monthly income. People can especially enjoy high rental income on ready-to-move-in apartments in Gurgaon, Mumbai, Bangalore, Delhi and other prime urban hubs of India. A lot of people tend to take up a loan when buying a property, and they can subsequently use this rental income to make their EMI payments.
- No surprises: When it comes to ready-to-move-in properties, the relevant establishment would have been already been built and developed at the time of purchase; hence, the buyers can be assured of the fact that there would be no drastic changes in the property by the time they take possession of it. There is always a chance that under-construction properties do not end up as per the desires and requirements of the buyer, but such risks are not associated in the case of ready-to-move-in apartments or villas. As property investments involve a high sum of money, it is important that the buyers are optimally satisfied with their investment. Hence, to ensure this fact, purchasing ready-to-move-in properties would be quite a prudent move.
People can check out the best ready-to-move-in properties developed in a city by checking out the websites of the major real-estate companies operating there.
