In case you are interested in buying a property in Gurgaon, you must have come across new projects tagged under the ‘new launch’ phase. Do you know what this means for the buyer? Purchasing a property during this phase is particularly beneficial to the owners. In this post, you will get to know the specific advantages of buying a property during this phase. At times, the term ‘pre-launch is used synonymous with ‘new launch’. As a prospective buyer, you must be aware of what these terms mean.
Firstly, you should know that purchasing these properties during the new launch phase would be more cost-effective, as compared to buying it when it is ready to move. It is during the new launch phase, that you would gain the highest degree of price advantage. Besides, when you look out for affordable property in Gurgaon for sale, it’s better to purchase during the new launch phase.
Besides the price benefit, you can enjoy several other strategic advantages when you purchase the property during the new launch phase. Have a look at all these benefits, which would help you make the right purchase decision.
Benefits of purchasing property on its new launch
Forward-thinking investors understand the value of purchasing the apartments during the new launch or pre-launch phase. Purchasing an apartment during this time can help you in several ways. Here are the key benefits of investing in the project during this period.
1. Best price available for early birds
When reputed developers launch a new project, they offer the apartments at discounted prices at the initial phase. This is a type of early bird offer. As a result, many investors and real estate buyers purchase the properties at an early stage. Given that the market is very competitive, the developers try to draw buyers with this type of attractive offer. However, people trying to purchase the same property a few months later would have to shell out an additional amount. As an aspiring homeowner, you might buy affordable homes in Gurgaon at the best prices during the pre-launch period.
Particularly, projects that are under construction come in this category. Once these homes are ready for acquisition, you might not be able to avail such discounted prices. This is why the cost of ready-to-move apartments is generally higher than those during the pre-launch period. People interested to purchase a budget apartment should go for these properties. Once the developers withdraw this offer, the prices would shoot up.
2. Booking the apartments before prices rise
As a prospective property buyer, you would be looking forward to purchasing a home while the prices remain low. During the pre-launch period, most of the property buyers invest in real estate since they can purchase them at relatively lower prices. Once these apartments are occupied, the prices tend to rise. Therefore, it is logical to block the project before the prices scale up. In the real estate market, it is common for the prices to rise just after the pre-launch phase. This explains why investors prefer booking apartments during the new launch period.
The rise in property prices can be attributed to several factors. This includes more demand for property, development of the infrastructure in the area, increasing cost of raw materials and labour, revised terms and conditions, and so on. Therefore, when you book your apartment during the pre-launch phase, you can make a considerable saving. Even if labour or material costs scale up, you need not pay the extra amount later on. When the property is ready for occupancy, you can earn a profit by selling it off at the market price. Of course, this price would be higher than the one which you invested.
3. Additional features and customization
Investing in a newly-launched affordable property Gurugram can be lucrative in terms of customization and integrating additional features. Besides, when you purchase the properties at the later stages, chances are there that you will not be able to get the apartments offering the best views. When you invest early, you get more choices in terms of features and customization. Moreover, homeowners can also get the interiors of their apartments personalized as per their tastes. At times, you may request the developers to make some minor changes in designs. When the project is under construction, it becomes easier to make these changes or incorporate certain additional features. Once the apartments are already constructed, it becomes difficult to alter the designs.
Why are pre-launch projects ideal for real estate investors?
For real estate investors, the new launch affordable flats Gurgaon would be ideal for purchase, considering their high ROI. When the prices start escalating after a few months, you may sell them off. In case you are ready to expand the portfolio of your real estate investment, it’s logical enough to go for pre-launch projects. The investment would be worthy indeed, considering that you save a significant amount. Moreover, you would be able to enjoy a decent profit margin in case you sell it off after a few months.
However, you need to take guard on certain aspects. Firstly, make sure to purchase branded apartments from established real estate companies. This would prevent you from landing upon unnecessary legal and financial issues. Secondly, check out the location of the project. Places with infrastructural developments going on close by are likely to witness a spike in the price of real estate. This implies that the investors would be gaining more when they sell them off after a few years. Have a look at the legal documents, along with the RERA registration number that the government has already mandated before you shell out the amount.
Well, now you know why it makes sense to investing in properties while they are in the pre-launch phase. Apart from making good savings, you can customize the properties as per your requirements. Moreover, chances of making monetary gains on selling off the properties are higher. Look out for the latest affordable residential projects in Gurgaon and book a pre-launch apartment.