Buying property of under-construction status can be both rewarding and risky. As an advantage, there are lower prices, customization options, and other benefits. As a risk, the project may get cancelled, the layout may change, or there could be delays. However, when it comes to RERA authority-approved developments, such complications are minimized. So it's always better to invest in RERA-approved apartments.

Is it worth buying an under-construction property?

Yes, it is always worth buying an under-construction property because it offers customization options to investors and buyers. It also provides the best prices, often up to 10% cheaper than ready-to-move-in projects. From the basement process onward, complete access is available for investors.

Can I sell my under-construction flat in Bangalore?

Yes, investors can legally sell under-construction property. Those who purchased the property during the launch phase of a RERA-approved project can sell it at any stage. It can also offer ROI benefits and complies with builder agreements. However, all flexible payments should be completed before selling. Many investors buy during the pre-launch and sell during construction if the investment doesn’t meet their expectations.

Benefits of Buying an Under-Construction Property

• Best Price Ever: Property in pre-launch and under-construction phases is usually available at the lowest price. In Bangalore, prices may rise up to 30% from pre-launch to ready-to-move-in stage, making under-construction properties valuable for both investment and end-use.
• Preferred Way of Construction: Buyers enjoy full customization options in the pre-launch and under-construction phases. They can choose Vastu orientation, floor, tower, and other features according to their preferences.
• Flexible Payment Plan and ROI: Many RERA-approved builders offer easy payment options like the 4x25 scheme. With annual ROI hikes of about 5%, buyers can also save on loan interest costs.

Disadvantages of Buying Under-Construction Properties

• Buying under-construction property can be risky if the builder is not RERA-approved or if the project involves legal complications or local builders without proper documentation.
• There may be construction delays, design or layout changes, and discrepancies in promised amenities. RERA-approved projects usually avoid such complications.
• According to Government of Karnataka regulations, in the case of delays, investors can cancel their booking and receive a full refund. Compensation of up to ₹20 lakhs for delays is also enforceable.

Can We Cancel an Under-Construction Property?

Yes, as per the RERA Act of India, buyers can cancel their property purchase if there are project delays or other complications mentioned in the agreement between the buyer and the builder.

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