With the number of projects increasing in real estate market there are many homes available with less interest rate, with various facilities and in different locations. As there are improved economic earnings in professional jobs there is quite a demand to invest in residential property.
The facilities provided by real estate companies in taking as many bookings has acted as a medium to go for home buying. Various deals on pre-booking, discounts in pre-launching projects are the best options for people buying homes as it safeguards their fiscal interest in the property. It also gives a financial rebate, therefore, many buyers adopt this option for their benefit.
Pre- booking system can be used in three stages of development which includes – booking before pre-launch, booking at the stage of launch and lastly in the midway of the project. This is a good concept of attracting new buyers and there are some benefits of investing in any of this pre – booking homes which are mentioned below:-
1. During the pre-launch stage, it is but natural that the property prices will be low to attract customers. This increases the sales figure of the developers that offer absolute minimum costs. Buyers get the benefit if they choose these offers. There are two types of pre-launch phase – Soft launch and Pre launch.
2. A soft launch is done when the basic construction approvals from authorities are in the process. It is just a promotion to manage cash flow to use it in further construction. Buyers in this stage can get the property value lesser than the final dispatch it may be around up to Rs. 500 to 1000 per sq.ft. difference.
3. This can be a true saving amount that can be used for the investment. Even the buyers can sell this property to new buyers after development, as the appreciation of the property will hike at that time. The first come buyers always have a major benefit in choosing an apartment of their choice.
4. The next stage is pre-launch in which the developers have received all their approvals and then can start their construction process. It is a time for promotion and marketing the project, therefore, the builders will give additional discounts to pull the buyers. The rates will go down till Rs. 200 – 300 sq.ft. than the original price. Buyers will prefer to gorge on it as it saves many bucks.
In the mid of construction stage when the documents will be all cleared and the scope of negotiation will be less, this buyers can try to invest in property as there can be ascent in the price later.
To be safe from any losses, a buyer should enquire in detail about the history of the builder, his past projects, his construction quality etc. This will guide you in taking a decision of buying a property or not. You can even take help from a real estate agent to be sure of when to buy the property and at what rate.