Under Construction Projects Vs. Ready to Move Schemes – 5 Things to Consider

With so many options to choose from, whether to buy an under-construction home or opt for a ready-possession flat is a dilemma that confronts almost every home buyer in Pune. The dilemma grows even further after consulting fellow buyers, and out of which, some people talk about the advantages of buying an under-construction home, and some profess the benefits of purchasing a ready-to-move-in-home. As a result, even more confusion!

Now, if you are one among those wondering what kind of home to buy, let us tell you, honestly, it isn’t as confusing to choose between an under-construction property and a ready-to-move-in one. The answer depends on your residential needs and also what you choose after considering a few essential aspects concerning both the options.

Accordingly, let us look at those five things to consider while choosing between an under-construction home and a ready-to-move-in property in Pune through this blog and be in a better position to make an informed choice.


Home Loan Factors

5 Things to Consider Between Under Construction Projects and Ready Possession Homes in Pune

Of course, comparing an under construction and ready possession property involves several aspects, and not limited to those about to be discussed here. However, for factors apart from those considered below, you can connect with construction experts in Pune like the Kohinoor Group and get all your questions answered.

1. The Type of Home Buyer You are


Home Buyer

Foremost, before you proceed to compare homes or look at various options, you must know what kind of a buyer you are. For instance, if you are about to buy a home in Pune for investment purposes, and you wouldn’t necessarily be its end-user, or its resident, you can opt for an under-construction home.

Of course, there’s a commercial aspect to it, and that’s the cost of the home, which keeps increasing with its completion of stages. At the time of possession, the cost of the flat is at its highest, and much more than the original purchase price, thus creating the option for you to sell it at a higher price.

On the other hand, if you plan to stay in a home, you can go for a ready possession property. It is because, here, you know what you are buying, you’ve seen the home in real-time, and also have verified whether everything that the builder has committed to exists or not. So, here, the risk is lower than buying an under-construction home.

2. Applicable GST



Image source:thehindubusinessline.com
GST applicability and rate is another essential consideration. Under construction properties with an agreement value of above 45 lakh INR incur a GST of five percent of the agreement value, while below 45 lakh INR require a GST payment of one percent.

As a result, GST increases the total cost of the home. However, in the case of a ready-possession home, the current applicable GST is zero percent, and it comes in as a great reliever for home buyers.

3. Customizations in the Home


Home construction loan

This is a no-brainer! Under-construction properties allow you the opportunity to have a few possible customizations based on your needs, except for the structural ones associated with compliance. So, you stay in a home that’s aligned with your requirements, and thus you can make the most out of it while residing in it.

However, this option isn’t available with ready possession homes. You have to accept the home the way it is (perhaps, with minor changes, and that too if possible and allowed by the developer), or else invest time and effort in searching for a home that has most of the elements you would want in your house.

So here, you must choose between what you want. If you want to customize the home to meet your needs, you can go for an under-construction home. But if otherwise, you can buy a ready-possession home in Pune.

4. Your Residential Urgency


verify documents when buying a ready possession flat


The next crucial consideration is how early you would want to move into your new home. If it isn’t as urgent, or if you already own a home and do not mind waiting for another couple of years to move into the new home, you can buy an under-construction property.

However, if you are among those who stay in a rented home and do not want to bear the burden of rent and EMIs, opting for a home proves a prudent and viable choice.


Related Post - 7 Reasons Why You Should Buy a Ready Possession Home

5. Possession Concerns


Buy home

Delayed possession has been a significant concern associated with a lot of under-construction properties in the past. Although it hasn’t happened in every case, many homebuyers have complained of delayed possession or uncertainties relating to it in the past.

However, the advent of MahaRERA and the subsequent heavy penalties imposed for non-fulfillment of commitments have helped reduce the cases to a significant extent.

Nevertheless, in some exceptional and genuine cases, the developers cannot help it. But anyway, it is the customers that bear the brunt, and as a result, a lot of people avoid buying under-construction homes.


Keys and Golden Keyring with the Word Home over Black Wooden Table with Blur Effect. Toned Image.


On the other hand, ready possession properties do not have to carry such risks or uncertainties. You can move into them whenever you want. So, if you are someone who needs urgent possession and cannot wait to move into the new house, you can buy a ready-to-move home in Pune.

Are you looking out for Under Construction and Ready Possession Properties in Pune? You’ve got Kohinoor!



Kohinoor is one of the leading construction groups in Pune. The company, which has several ongoing and completed projects across various corners of Pune, is known for on-time possession, fulfilment of commitments, and top-quality construction.

Currently, Kohinoor has quite a lot of under-construction and ready-possession home options available throughout various projects. For more details or to book a home in Pune, connect with Kohinoor at 020 6764 1839.


Related Post - What Are the Benefits of Buying a Property with Kohinoor Group?


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