Will you be interested to buy at "pre-launch" stage?
Pre-Launch is a phase in which a certain period of time is denoted at the beginning of a realty program to promote the new business opportunity or in the case of real estate, a new set of properties. The entire purpose of pre-launch is to attract potential investors, business partners and end users through different one-time-offers. The pre launch offers are run for limited time. The advantage of pre-launch is to spread the word regarding the new opportunity as quickly and efficiently as possible so that the business can get off to a good start.
In case of property, one has the excitement to acquire the ownership at quite low rates; however, one should take every possible precaution, take a look at the past record and reputation of the developer/builder and only then take a call. In real estate, pre-launch essentially means raising money from the investors for the projects that are yet to have all the required approvals. Fundamentally, even the foundation stone of the projects haven’t been laid when the selling of the properties start under pre-launch stage.
So, if basically there is no legal action that can be taken in case a property is purchased at pre launch stage and does not get delivered within estimated time frame, are there any takers for pre-launch property and if so why? Makaan.com conducted a survey and asked the people whether they would be interested to buy at pre-launch stage. Surprisingly, 72% of the people said that they would opt for property at pre-launch stage. Reasoning for this can be that investors and first time buyers are often lured by the significantly low prices that are on offer during this phase. Generally and by the current standards, the pre-launch price of any property is 5-10% cheaper than the price after the actual launch. However, after this transaction the investor often does not have an enforceable right over the property.
On the other hand, in the survey, 25% of people said that they would not risk making a purchase during the pre-launch stage as the number of approvals that any new real estate project has to acquire at present time makes the timely possession of the property highly uncertain.
Buying a home is one of the most significant financial investments that one ever makes; therefore, it is only advisable to do a proper market research and survey prior to finalizing anything. For more of such poll reports and to cast your vote in a poll, visit: http://makaaniq.makaan.com/ .