Tips for Investing in a Pre-launch Airoli Property Successfully

1. Tips for Investing in a Pre-launch Airoli Property Successfully Are you planning on investing in a property in the pre-launchphase? According to the real estate experts, if you are not looking for self-occupation within one to two years’ time, then buying an under-construction property won’t make sense. Pre-launch properties are meant for investors who have a huge appetite for risk. This is because very few approvals are in place when a project is in the pre-launch phase. This results in higher amount of risk and there isn’t any certainty on the delivery of the project. So if you plan on booking an Airoli property in the pre-launch phase, then make sure it is only for invest- ment purposes. In case of self occupation, it is recommended to wait for a few years till the construction work gets completed. There are several factors that one needs to consider when looking at a pre-launch deal. For instance, price is the most important factor. As a buyer, it’ll help if you are finding the potential for price appreciation from the pre-launch offer price to the future. This can be done by judging the demand profile as well as market performance of Airoli, infrastructure availability and factors that will drive the current and future market. It is recommended to compare the stated pre-launch price with the rates that are being quoted in projects in the same location. There will be no future price advantage if you see that prices are already high and have reached the saturation point. Another important factor to consider is the credential of the builder. Be it a project at the pre-launch stage or an Airoli new construction project, it is very important to choose a reputed developer with a strong track record and reputation. If you are choosing a trusted developer, there will be less or no risk involved be- cause you will know that the developer already has various successfully completed projects to his credit. Also, it is important that the developer is financially sound because if there are no finances, then work on the project will get stalled for a long time. When looking at a pre-launch deal, make sure you are checking all the documents and ensuring that all ap- provals are in place. You need to establish whether or not the builder has clear ownership of the land on which the property will be built. It is not sufficient that there is an agreement between the original owner and the builder. The project should also have IoD (Intimation of Disapproval). Find out if the developer has important documents such as plan approvals from concerned authorities and legal title of the land. In the pre-launch stage, many approvals from local authorities can remain pending. So make sure that the devel- oper at least has mandatory approvals in place. Approval from the bank will also matter if you plan on avail- ing a home loan for buying the property.