The whole process requires careful consideration of all shortlisted properties to finalize the right property. Developers in Hyderabad understand that buying a home is a once-in-a-lifetime decision and buyers need to be satisfied with the options that they are presented with.
While numerous projects have already been completed and are ready to move in Hyderabad, there are also quite a few trending under-construction projects that are being built keeping in mind the needs and requirements of the buyers of today. As a buyer, the first thing that you need to verify is whether these projects are RERA approved or not. This confirmation will not just make the property legit, but will also protect all your rights as a future homeowner.
If you do end up finding your dream property in a project that has not yet been completed, remember that you need to verify the date of possession and the completion date with the developers. Make sure you get a written agreement stating all the details of the project and when it is expected to be completed. In a city like, Hyderabad guaranteeing such residential projects with a written agreement signed by both the buyer and the developer is the norm.
Many buyers wonder whether buying an under-construction property is a liability or an asset. in Hyderabad, buying an unfinished property is said to yield higher rates of returns than buying a property that is ready to move into.
A final advantage is that the prices of under construction properties in Hyderabad are more affordable and less expensive than ready-to-move-in projects. You can also choose a location that suits you and has easy connectivity to essential parts of the city!
Lastly, do not hesitate to spend some extra money on getting an independent legal report on the project. This will help you do your due diligence and confirm whether the developer can be trusted or not. Once you have made up your mind to buy the unfinished property, make sure that all approvals are in place. This also includes the commencement certificate for the property that is currently unfinished.
Such residential projects are a boon in the 21st century, and if they are not on your list of properties to consider in Hyderabad - do thorough market research and then make your final decision.