Under-construction flats
- Pros: usually a lower entry price, staged payments, and a wider choice of floors and layouts.
- Cons: possession risk, rent you keep paying while you wait, and what you see may be a model flat or drawings.
- Protection: in a RERA-registered project, the Act provides for interest where possession is delayed beyond the agreed date, and for a refund in some cases. Verify the project first with our RERA guide.
Ready-to-move flats
- Pros: you see exactly what you buy, you can move in quickly, and you can talk to residents.
- Cons: usually a higher price and fewer choices.
- Check: the completion or occupancy certificate and the society's maintenance record.
Tax difference
GST generally applies to under-construction property and generally does not apply to a flat that has received its completion certificate. Rates and conditions change, so confirm the current position with a chartered accountant before you decide.
How to choose
- If you need a home within a year, shortlist ready flats.
- If you can wait and want a lower price, shortlist verified under-construction projects with a good delivery record.
- Either way, complete the buying checklist and read the agreement line by line.
Frequently asked questions
Is it safer to buy a ready-to-move flat?
It removes delivery risk because you can inspect the flat, but you still need to check title, the completion certificate and dues.
Is GST charged on ready-to-move flats?
Generally not on a flat that already has a completion certificate. Confirm the current rule with a chartered accountant.
What if an under-construction project is delayed?
In a RERA-registered project, the Act provides for interest on delay or refund in certain cases. Keep the agreement and receipts and approach the state authority if needed.