Why You Should Always Pick Ready For Possession Homes
01 Jun 2017
The debate between buying a home that is under-construction and investing in one that is ready for possession is a fairly common and valid one. Aspirant homeowners are often confused about where to put their money, but the evidence seems to lean in favour of investing in a ready-for-possession home.
Here are some reasons why you should always pick ready-for- possession homes:
1. You get what you see: Are you afraid of being deceived by those exquisite sample flats? Well, that shouldn't be a fear of yours when you buy a home that is ready for possession. You get what you see, literally.
2. You can avail of rental income: By investing in a ready-for-possession home, you have the option to put your property up for rent right away and avail of rental income.
3. You get tax benefits on home loans: Under the Section 24(b) of the Income tax Act, one can avail of deduction on the principal amount of the home loan taken for the purchase of a ready-for-possession property. However, the same tax benefit is not applicable for properties that are still under construction.
4. There is zero delivery risk: Real estate projects that estimate the time of possession to be one year later or more tend to get delayed more often than not. It is also not uncommon for real estate projects to fall through, which means that you could lose your investment. With a ready-for-possession home, there is no delivery risk.
5. Settled neighbourhood and amenities: Purchasing a ready-for-possession home will offer you the benefit of having neighbours, and of up and running facilities like the clubhouse, grocery stores in the vicinity, etc.
If you're looking to buy a ready-for-possession home, Ganga Niwas is the best choice you can make.