Buying Pre-launch property

POSTED BY rakesh ON April 25, 2012 5:22 pm COMMENTS (6)

Inviting feedback from members. Is it worth to invest in pre-launch property where the builder gives discount of Rs 200 – 300 per sq. feet. For eg. if the current market rate is Rs. 4000 and the builder is offering at Rs. 3700 and the apartment area is 1000 sq feet. Of course will have to take loan for the house. Would savings of Rs. 3 lakhs in pre-launch make a difference? The property in question will appreciate in future as its in a good area.

6 replies on this article “Buying Pre-launch property”

  1. Ankur says:

    HT Estates of 21st April gave an article on pre-launching under the heading “Still Selling Castles in the Air”. Go through it, would be helpfull
    Here is the link: http://paper.hindustantimes.com/epaper/viewer.aspx

    Thanks

    1. rakesh says:

      @Ankur,

      Thanks for your advise. Many builders in metros offer discount on pre-launch offer. Recently Purvankara offered Rs. 200 discount on their new project in bangalore.

      1. Dear Rakesh, please answer this question –

        Property booked in May 2012. Delivery promised in May 2014, It’s May 2015 & still delivery is not in sight. 3Y are already over & as the property is not handed over, income tax benefit is not available. Already paid a lot of interest towards home loan.

        What ‘ll you do?

        Thanks

        Ashal

  2. BanyanFA says:

    Buying a property is always a tricky situation. Builder is not going to release a single penny from him pocket as a discount. The sheer fact that he is giving a discount is reflecting on the potential market price of the flat.

    If you are buying for a long term perspective, this should not matter, but obviously every penny counts to reduce the cost of purchase of a property. You can still haggle a bit more with the builder and try to shave off some more amount.

    Regards
    BanyanFA

    1. Ankur says:

      Just read few days back that pre-launching is banned espically in Haryana. if any of the group declares a pre- launching scheme then make sure the brand name is good enough before you book anything.

      Hope this helps!!
      Ankur

    2. rakesh says:

      @BFA,

      Thanks for your advise. The pre-launch offer is Rs. 4000 and the offer given to me buy the builder is Rs. 3700.

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