Real estate saw a dull phase due to non fulfillment of the promises made to the customers, home buyers and the Allottes. Now it is steadily registering growth in a much better way than the expected. More and more home buyers are now searching for the ready to move units as compared to under construction units. Real estate sector takes a long time to deliver the projects and is really involves long gestation period.
Long gestation period leads to change in demand, change in requirements, change in policies of the Government and change in financial conditions as the aspirant. Many times the financial position improves but some time it effects negatively also. The period is usually 2 to 3 years on a minimum side and this period of 3 years makes changes in the normal life of any family. This is one of the biggest reason for opting the ready to move in units. The Home buyers when makes up the mind for purchase and evaluates his/her another financial position searches for the preferred location of the Apartment or we should better use the word “Address” than the address being finalized after evaluating the legal issues, financial issues and bank loan facility if required.
The intending purchaser views the ready to move in units in one another prospect that neither the buyer will have to pay rentals any longer and nor the liability of paying installment for an uncertain period will be a burden. It has been envisaged number of times that the purchaser has booked a unit and after excavation the allottee has again paid a installment but after the payment either the raft could not started or if started them the pace of work slowed down after basement completion. So the uncertainty continues and installment of EMI runs on its own speed and hence the biggest advantage for ready to move in (RMI) is end of uncertainty risk and other related losses. Yet the payment of rent and EMI do not threat at the same time and only one goes at a time.
The matter is not of gaining losses but also killing your risk sometime under construction provides gains on the aspect of good deal as RMI is expensive and load of interest also covered on RMI’s. But even then ready to move in do not associate risk and two, the requirement of the family at the time of purchase matches the product. You get the keys and get shifted with short span of time may be 30 to 45 days even.