Whenever we are looking for a good house, either for living or for investing, we often choose some of the best localities only to be stopped by the looming price of these localities. However, there is a good solution for this, and that is a pre-launch project. A pre-launch project is one where a builder has only declared a project but hasn’t received any approvals or certifications. A pre-launch project can be seen as a wonderful opportunity to buy a premium property at a discounted rate. Many pre-launch luxury apartments in Chennai are at a great price.
Let us look at some benefits of buying a pre-launch project:
Source of Excellent Investments: Pre-launch projects are often cheaper since they haven’t been rolled out into the market. Once getting rolled out into the market, their pricing increases exponentially, and it becomes expensive. By investing in a pre-launch project, you not only get the property at a discounted rate but also have the chance to sell it at a higher price once the project is rolled into the market. Whether it is flats for rent in Chennai or apartments for sale in Chennai, investing in a pre-launch project is your best bet.
Option for Customizations: When a project is announced, a potential homeowner or investor is given the privilege of choosing an apartment or property of their choice. Perhaps they would prefer a particular direction or a certain view. In some cases, there may be a privilege of having your own interior layout and customizing the design of the unit according to your choices.
Good Way to Save Money: Investing in pre-launch flats in Chennai means saving a big chunk of your money; since you are saving yourself from buying the house at a premium rate, you can use this saved up money on something else. Perhaps you can invest this money or even use it to buy furniture, electronics etc., for the house. Banks also don’t charge you interest during the pre-launch phase, and that is something to look forward to.
Benefits from Banks: There are certain advantages which you may receive from the banks as well; first of all, there are amazing tax advantages on home loans. Pre-launch projects also have plans that spare a buyer from paying EMIs until the units are under the possession of their buyer; the responsibility of paying the interest also falls upon the builder. With the added pressure of paying the mortgage, the builder may also complete the project on time.
While the above benefits on pre-launch projects make them a lucrative option, it is also necessary for a home buyer to invest in projects carried out by well-reputed builders and real estate companies. Banks don’t offer loans on every property, and hence it is important that you do your research well. Apartments in Chennai that haven’t launched yet are a lucrative investment.
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