Buying New House – Pick one in the Launch Phase

If you have been looking at property for sale Pune, Pre-launch, New-launch, and other real estate phrases may sound familiar to you. It is customary to use these words while marketing/ pitching a home to potential buyers. Investors find buying new houses in the Launch Phase since they will be less expensive than completed or ready-to-move-in residences. This brings the greatest pricing advantage to home buyers. Property in Pune is expensive, saving a few lakhs would certainly make a difference.

What is New Launch?

The term ‘new launch’ in the real estate sector refers to the launch of a pre-construction phase of a housing project. Many developers may launch a project when a part of the project is ready, generally a tower (building). In the launch phase, the developers provide key information about the proposed site plan, project details, payment plan, discount on booking, location, completion date, etc.

A promotional campaign is run across digital, social, and other advertising platforms to attract the homebuyers to own a property in the newly launched project. Some developers also offer attractive discounts on the first few units to spread the word and faster bookings.

Buying new house in its launch stage has many additional advantages. Let us explore some key benefits.

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Benefits of Buying a Home in Launch Phase

· Early Bird Discount, Lower Purchase Price

New launch offers bring a significant number of buyers to the project. A real-estate project gives high appreciation from launch to completion phase, and homebuyers can save a big chunk of money through booking at the pre-launch stage. Thus saved amounts can be used for other expenses such as interiors, registration, furnishing, etc.

· Choose the Best Unit 

When buying new house some homebuyers consider various things such as units that are sun-facing, garden facing; units that have proper sunlight and good views from the balcony, etc. Buyers can choose the best property for them in a new launch project at a low price without compromising on specifications. In addition, buyers can also ask the developer for structural modification or interiors of their choice. Customization of design changes at the initial stages does not require any reconstruction thus saving cost for both the buyer and the developer, hence fitting in the existing budget.

· Avoid Price Hikes Later

Apart from the discount and price hike after completion of the project, many other factors may impact the property price. These could include any commercial or residential development in the vicinity of a project, civic infra progress around the project site, rise in raw material, labor, new regulations, etc.

Generally, the developer also increases its basic sales price once the project takes off and buyers start showing interest. A ready-to-move-in property with a developed locality is always costlier than the pre-launch phase of a project. So, buying a property in the launch phase is always beneficial to the homebuyers for end-use as well as resale purposes.

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·  Advantages of Payment Schemes  

Many developers offer schemes like ‘No EMI Till Possession’ that also help homebuyers to enjoy a free-EMI period till the developer delivers a project. This condition also pushes builders to complete the project within the deadline. Homebuyers are also happy as they have to pay just 20-25% cost of the project.

There is no dearth of flats for sale in Pune in their launch phase. A newly launched project is the best bet for the end-user or investors, as price appreciation is evident after project completion and other infrastructural development in the vicinity. However, experts caution homebuyers to buy a house from a RERA-approved builder project or a reputed developer. Homebuyers should check the RERA license number of the project before buying a specific project.

A newly launched project is the best bet for the end-user or investors, as price appreciation is evident after project completion and other infrastructural development in the vicinity. Give it a thought before taking the plunge.