Is it Beneficial to Invest in Under Construction Flats in Thrissur?

Posted onJan 27, 2024

Purchasing real estate should not be done without proper research. You have a lot of factors to consider, whether you’re an investor or home owner. Here’s one of the best tips for buying a flat in Thrissur that you can get: purchase a flat that’s under construction. Unless your requirement is urgent and you want to move in immediately, investing in an under-construction flat makes good sense for a lot of reasons. Read on:

New Construction

When you are purchasing a flat that is being constructed, it will have a longer life and you won’t have to worry about spending on renovations or repairs for some time to come. This means lower maintenance costs.

New Design and Tech

You can be assured that a building that is being built now, will employ the latest technology and construction methods and trending designs – especially when it is from a reputed builder like Varma Homes. It is always more beneficial to invest in constructions with new and improved methods.

Customization

It is easy to make a few modifications to your flat when the building is in the construction stage. If you want additional electrical points, want to incorporate smart home technology or anything similar, it can be easily achieved at this stage, without having to break and remake walls etc.

Lower Down Payment

Usually, you are required to pay a much lower amount as down payment when you are purchasing an under construction or freshly constructed flat as compared to one that has been constructed a while ago. This will enable you to purchase a bigger flat or one in a prime locality at a lower price.

Discounts

Builders normally offer good discounts on flats that are in an under-construction building. It helps them get funds quickly which they can use to speed up construction, and buyers need to spend less – so it’s a good situation for both parties.

Flexible Payment Terms

Since you are placing your trust in the builder by investing your money in a flat that is still under construction, the builder offers easier payment terms if you have not taken a loan. If you have taken a loan, provided you are purchasing from a reputed real estate developer, the financing company is also more likely to offer easy terms of repayment like longer tenure and better interest rates as they trust the builder.

Value Appreciation

By investing in a property that is still being built, you can expect to get a higher return when you resell or give it on rent. Under-construction flats are available for purchase at much lower rates, but their prices go up exponentially once they are ready to move in. This is a huge advantage to those who want to invest in real estate and make a tidy profit. This is why we recommend purchasing an under-construction flat as part of your real estate investment strategies in Thrissur.

Summing Up

Thrissur is an emerging city with immense potential for development; it is an important financial and commercial hub and is also the cultural capital of Kerala. It is expected that property prices will rise steeply in the near future. The government is encouraging entrepreneurs, especially in the IT sector, to set up shop here, and hence there are innumerable benefits of real estate investment in Thrissur.

Are you looking for the ideal property in Thrissur? Varma homes brings you a Varma Spectrum, a premium project in Thrissur with luxury 2 and 3 BHK apartments, featuring world-class amenities that help you elevate your lifestyle. Contact us to know more!