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Real Estate Forum on Under Construction Property

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: Few of my colleagues were discussing about it today. I want to have a brief idea about which all cities has seen difference in price between ready to move in and under construction properties.
Latest Answer: compare the real estate property in dwarka delhi on comparecasa the best property comparison portal .Compare revanta royal homes Rating and Reviews with the other housing projects on comparecasa.com
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Q: Of the total residential area under construction across 25 cities around 3.2 billion sq-ft. or 34% of total is delayed by over 12 months.
Latest Answer: At the same time, this bill will have a positive impact on the Indian economy as it would provide confidence to foreign investors. As far as responsibility for delay is concerned, it lies both with the developer and the Government authorities. Thus, if we look at the larger picture, the delays in execution also have a negative bearing on India's GDP.
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Q: Buying a house is a big financial liability. So, don't let an investment of Rs 50-60 lakh be effected by freebies & offers worth a few thousands.

Latest Answer: Hello Devika, Go for construction-linked plan if you don't have extra cash for a large up-front payment or cannot pay huge EMIs. Banks usually give 2-kinds of loans for such payment plans. 1st, the loan is for the initial contributions and only pre-EMIs are charged for that amount.
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Latest Answer: In Technical terms CC means Commencement Certificate and not completion certificate. YES, builder HAS to charge Service tax and VAT for flats sold even before or after obtaining CC. once the building is complete, government issues OC which means Occupancy Certificate, and flats sold / registered after that are free of Service tax and VAT.
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Q: Which is the better options in Mumbai, ready-to-occupy or under construction property?
Latest Answer: In spite of these facts, tax breaks always play a major role in real estate investment. If you are looking for tax savings to plan your finances better, go for a ready-to-move in property. According to Section 80C of the Income Tax Act, the principal of Rs 1.5 lakh paid is deducted from income. The interest paid too is eligible for deduction up to Rs. 2 lakh. These rewards take off only after a home is in your possession. So, ready-to-move proves to be a good investment option.
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Q: How to check quality or aspect of any residential property by bank???

Latest Answer: Hi Javed, Almost every one are going for home loan while buying any kind of residential property. So bank will not see the customer face or property and give you loan. Definitely before approving any loan request, bank does a check – on the property, the credential of the builder. This is done to ensure that the market value of the collateral does not reduce.
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Q: Is there any risk involved in purchasing the under construction property. What action can i take if I am not getting the possession on prescribed time limit.
Latest Answer: Hi Kamal, Risk is there because if you book a under construction property then you can face delays or may be due to some legal reason the work may stop for sometime.
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