Buying residential properties is one of the smartest moves today. You can buy a residential property by utilising your savings and availing a Home Loan at a competitive interest rate. You can move into the residential property with your family or rent it out. Either way, you stand to earn incredible gains from your investment.
If you want luxurious apartments in Mumbai, check out 2 BHK in Goregaon West. Incredible connectivity, massive upcoming residential projects, competitive property prices, and sound infrastructure are among the top reasons to buy a home in Goregaon West. A residential project is not built over time. It is built in several stages. Following is a description of the various stages of a residential project, helping you identify the most suitable stage to invest in:
Pre-launch stage
The pre-launch stage is the very first stage of a residential project construction. During this stage, the builder acquires the site and works towards obtaining necessary government approvals. The residential project design is in progress. The flat prices are at the lowest during the pre-launch stage. Hence, this is an incredible opportunity for home buyers like you. However, note the project has not started yet.
Hence, there is the possibility that project operations could be delayed or shut down altogether for various reasons. If you plan to buy a 2 BHK in Goregaon West in the pre-launch stage, invest in a project by a reputed builder. This ensures the residential project’s structural reliability, outstanding overall appeal, and timely completion.
Launch stage
The launch stage is one of the most popular stages of residential project construction. The builder actively advertises the project offering, creating a tremendous buzz in the market. The flat prices are relatively low in the launch stage. Typically, during the launch stage, you can check out sample flats. This gives you a chance to envision your dream home into reality. Here, there is no guarantee about the project’s timely completion.
A background check about the builder can help you if they hand over the property possession as promised or if you will have to wait for several years to move into your dream home.
Completion stage
The residential project is almost complete in this stage. The flats would have competitive pricing. However, it is usually worth investing despite the high pricing as you move into the flat in no time. This way, you can save significant rent if you are currently living in a rented flat.
Post-completion and re-sale
Builders also number 2 BHK flat in Mumbai after project completion. These flats could be highly valued given the massive demand in the market. Head out and check the residential property yourself.
You can visit the brokers to invest in resale flats. The re-sale flat values depend on the market demand and the owner’s quote. You need to negotiate to invest at a suitable price.
