Are Home Buyers Keen on Ready-to-Occupy Flats?

Considering the budget of the middle class society these ready-to-occupy flats are comparatively pricey, regardless of this the middle class continues to be the primary driver of India’s real estate. According to sources, Middle class segment is improving and by the end of 2015, about 460 million people will enter this segment. This clearly shows that the real estate market is vibrant.

However, the demand is more for under-construction properties than ready-to-occupy flats, says Ravi Saund, the Chief Operating Officer of CHD Developers.

Harinder Dhillon, the Vice President of Raheja Developers, on this context quoted that "The primary market for new launches is extremely vibrant at the moment and transaction volumes are significant. Projects under construction are generating as good a response, if not better, than ready-to-occupy apartments," reports ET.

One Reason why you should invest in ready to occupy flats:

There are several other risks associated with a new project that is under construction, such as project delays, price escalations, variance from the planned layout, scarcity of labourers, raw materials and government procedural delays etc. Because of which the builder and the buyer have to suffer all through the construction period. Hence ready to occupy flats are a safe option. However, the option of having a customized apartment is not available in this ready-to-occupy option.

So finally the bottom line speaks about the purpose of purchasing property "If it is for investment then property under construction is generally preferred; first-home or self-use buyers go for ready-to-occupy flats," says Sanjay Khanna, the director of Kailash Nath Projects.