33.33 Ready-to-move vs Still in Construction. Which one should you go for?

You would have heard stories of people buying units when they were still in construction and then witnessing a 2x growth in a matter of months.
Similarly, you would have also seen news of people not getting possession of their property and getting a majority of their wealth stuck for years.

Ready-to-Move Properties or Still in Construction. That’s what we will try to cover today:
At what stage should you consider purchasing an apartment?

To get an answer to these important doubts, you should be absolutely clear about:

Whether or not you are going to get possession of your flat TIMELY?

And THIS will depend on your contract terms.
My personal experience has helped me learn:

[1] Be absolutely clear on whether you will get possession of the property in a timely manner.
Read the contract carefully. Be clear about what you are buying.

[2] When it comes to Real Estate, be clear about the type of property.
Not the showcase, not the sample flats with stellar interiors - but the end product with no fancy lights.

[3] Price Increase
Yes, the price increases after the flat's completion or near-completion stages. You can get a lot of gain by pre-buying it.
But you should only do it if you can 100% know that the project will be complete.

There are numerous cases where projects are left incomplete, and retailer's money is blocked in such deals.

Case Study

According to a report by Anorak in 2022, as many as 500,000 homes worth Rs 4.48 lakh crore are stuck across seven micro markets in the country.
They further mentioned that:

These are some of the projects that were delayed:


Link to more such projects:

There are even cases of defects:


We will take a deeper look at such scams in the following newsletters.

The idea is not to scare you but to remind you that you need to protect your downside risk.
Ideally, I prefer to buy the property when it is near completion and when I am certain about my end product.

This is my perspective. The opinions can certainly differ from person to person.
It's up to you to learn and make an informed decision.


Thoughts 🤔 by Soumendra Kumar Sahoo is licensed under CC BY 4.0