If you have known real estate market well, you might have heard terms like ‘pre-launch’, ‘new-launch’, etc. These terms refer to projects which are newly launched. These are some common terms used to attract prospective buyers. Investors show great interest in buying properties that are in the new-launch phase since they will be economical as compared to completed or ready-to-occupy properties. Hence the buyers can get maximum price advantage if they buy properties in the new-launch phase. Apart from the price, there are other benefits of buying a new launch property. Let’s have a look at why new launch projects can be considered as an advantage if you are looking to buy a property.

Early Birds Get the Best Deals

Builders give attractive price offers during this initial phase of the project. Real estate is highly competitive market, owing to which builders offer discounts on pre-launched or new-launched projects to attract homebuyers and investors. Prices offered by builders during this phase are lower than that of on-going construction or ready-to-occupy projects. Hence, if you are planning to invest or looking for a home to stay-in, newly launched projects are the best options.

Book before the Price Hikes

Another advantage of buying a property which is in a newly-launched phase is that you can block the price before the rates go up. Price increase for properties post-RERA which is quite common in the real estate market. So considering this, investors mostly prefer buying properties when they are in the new-launch phase itself. There are other factors too due to which price hikes, like increasing demand of property, new infrastructural development in the area, rising labour costs and cost of raw materials, revised laws, etc. Opting for a newly launched project will save a considerable amount for other future expense like registration and interior. Also, if you are an investor you can consider selling the property in future when it is in the ready-to-occupy stage at a higher price and earn a high profit.

Unit options of choice and Customizations

When purchasing a property in an initial stage of the project, you can get to choose the unit of your choice with the best view, favourable location and easy accessibility (like near the lift or near the lobby) and preferred floor all within your budget. Also, you can ask builder for customised interior layout or want to make minor changes in the design, all this can be possible when the project is in the new-launch phase.

A Smart Investment

As most cities are exhausted of open spaces, builders are moving towards the suburbs. At this time if you are looking to invest in the real estate it will be the smart move to buy a property in suburbs at lower price, once the neighbourhood starts developing you can sell the property and get the high returns.

So, whether you are an end-user or an investor, it is in your best interest to buy a property in new-launch or pre-launch phase of the project.