Top Reasons to Invest in Ready-to-Move-in Property in Ahmedabad

Ahmedabad is currently one of the hottest residential real estate markets in India. According to the Real Insight Residential – April-June 2022 report, the city saw the highest quarterly increase in real estate sales in Q2 of 2022 at 30%. An end user-driven market, Ahmedabad had an unsold inventory of 64,860 units as of June 2022. Whether you are a home buyer or an investor, there is a wealth of properties to choose from in Ahmedabad.

However, buying or investing in property is never an easy decision. With so many options available in the real estate market and the high risks involved in investing, it is often rather difficult to make the right decision at the right time.

The first consideration for home buyers or investors is to usually choose between investing in a ready-to-move-in property or one still under construction. While both options have their merits, the choice will ultimately depend on your medium- to long-term requirements.

Let us simplify the decision-making process for you. Read on to find out the top 3 benefits of investing in ready-to-move-in properties in Ahmedabad.

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Benefits of investing in Ready-to-move-in Property in Ahmedabad

1.

No Waiting Period

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The most significant advantage of investing in a ready-to-move-in property is the lack of a waiting period. You do not have to wait months or even years for the construction to finish. In addition, a 12% GST rate applies to under-construction properties, whereas GST does not apply to completed properties. So, if you were to invest in an under-construction property, you will be paying taxes levied on it without actually using the property. However, note that a ready-to-move-in property usually comes with a pre-set, pre-approved design and layout. Clients cannot design it the way they want or choose the materials they want.

2.

No GST

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One of the most beneficial aspects of buying a ready-to-move property is being exempted from paying GST on a flat purchase. As a mandate by the Government of India, GST is applicable only on the sale of under-constructed properties, or where the completion certificate has not been issued. Therefore, you could save up those extra bucks on tax on ready-to-move-in property.

3.

No Uncertainty About Property Features

Most ready-to-move-in residential and commercial projects have features and amenities clearly defined. While surveying these properties, you can readily inspect if the building uses quality finishing, features, and facilities in accordance with those listed in the sales literature. Besides providing an overview of the infrastructure in the vicinity, these properties have facilities, such as swimming pools, clubhouses, meeting rooms, gyms and professional lounges, readily available to the buyers, unlike under-construction homes. When you invest in property under construction, you will essentially find yourself paying maintenance charges for amenities that are promised to you but not a reality yet.

4.

Transparency in Maintenance Fee

A real estate builder initially levies maintenance charges for providing and maintaining essential services, according to Real Estate (Regulation and Development) Act, 2016.

While buying a ready-to-move-in property, all the charges, including various deposits and society maintenance charges, are discussed in detail, and are paid upfront.

However, when you invest in an under-construction property, the maintenance charges may not be demanded or discussed initially. This can increase your costs substantially at a later stage of the housing project.

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Real Estate Prospects in Ahmedabad

Ahmedabad is consistently on the radar of investors and real estate businessmen. This is owing to the city’s cosmopolitan outlook, connectivity, availability of various amenities and services within an arm’s reach, the flexibility of language, and overall business development

The city has been witnessing a steady rise in residential and commercial sales. It remains one of the most affordable cities in the nation, with a 20% affordability ratio. According to the Confederation of Real Estate Developers Associations of India (CREDAI), property prices in the city increased by 15–20%, starting April 2, 2022. This has been attributed to an increase in the price of raw materials, such as cement and steel, which have doubled by almost 35% over the past two months.

Throughout 2021, residential sales in Ahmedabad have been increasing steadily. Nearly 4,100 units were sold in the second half of the year, of which about 3,100 were sold in March 2022. The east and south zones have produced 25% and 7% of sales, respectively, while the west and north have generated 30% and 38% of sales so far. Ahmedabad ended the year with sales of over 2,500 residential units.

Ready-to-Move Properties in Ahmedabad

Ahmedabad is an important economic hub. Part of the Central Government's Smart City Mission, Ahmedabad has a rapidly developing real estate market. From ready-to-move-in apartments to luxury villas, you will be spoilt for choice while buying residential property in Ahmedabad.

However, when choosing between a ready-to-move-in property or an under-construction one, there are many things to consider. Although there is much legal work and documentation that needs to be sorted out while buying a ready-to-move-in property, it makes your life easier after the purchase with a guaranteed sense of stability.

Adani Realty offers a range of premium properties in Ahmedabad. Approved by GujRERA (Gujarat Regulation and Development Act), these properties ensure the safety of your investment. Some of these RERA-approved Adani Realty properties include The North Park by Adani Realty at Shantigram, which is an enclave of luxury villas and Water Lily by Adani Realty, a group of lake-facing penthouses and apartments. Adani Realty also has Inspire Business Park — a ready-to-move-in commercial project - under their wing. It is located in the integrated township of Shantigram.