Hyderabad's concept of a dream home has evolved significantly over the last 20 years. 2 BHK/3 BHK Ready to move in apartments Hyderabad have emerged as the most common option for people from all walks of life over other types. Homebuyers frequently choose a Ready to move in apartments over one that is still under construction since possession is not delayed. Apartments that are "ready to move in" make it easier for buyers to plan because they can be occupied right away after purchase. Here are the reasons why home buyers are opting for ready to move in rather than under-construction ones.
You see what you get
In ready to move-ins, you can understand the complete nature of the home you are buying by looking at the quality of construction, space availability, view from the apartment, amenities, parking space, and many more from home itself rather than a brochure or some virtual video. Even the purchasing procedure of a Ready to move in apartments is smooth and stress-free. All you have to do is pay, sign the paperwork, get the keys, and immediately move into your apartment!
Rental Income or EMI
Since Ready to move in apartments can be occupied right away, the buyer has the option of renting the apartment as soon as they acquire it. As the apartment is relatively new, there is potential for increased rental revenue too. The most significant advantage of renting after buying is the quick payment of home loans.
Free of GST
Only under-construction real estate developments are subject to the GST. Hence, you can save the GST cost if you purchase a ready-to-move-in home from a reputed project like Ramky One Galaxia Phase 1. In conventional under-construction housing projects, real estate developers impose a 12% GST with ITC or a 5% GST without ITC. For affordable housing developments, it is 8% GST with ITC and 1% without ITC.
Zero Project Delays
The most considerable risk you can avoid while purchasing a ready to move-in home is project delay. You are not forced to wait for the apartment and other facilities in the project to be completed. There are several factors that are beyond the developer's control that can cause project delays. But all of these can be avoided if you are opting for a ready to move-in.
Suppose you are taking a loan to buy a house. In that case, you can claim deductions under Section 80C against the principal repayment of the home loan, which has an overall limit of 1.5 lakh, and up to 2 lakh for payment of interest under Section 24(b) for a self-acquired house, according to the Income Tax Act of 1961. But the principal amount repaid during the construction phase is not eligible for any deductions. Additional deductions are available exclusively to first-time and affordable segment homebuyers. However, you can only begin claiming tax benefits once the home has been completed and you have taken ownership. But in the case of a ready to move-in, you do not pay any principal amount for construction as the apartment is already constructed, and you can immediately avail the eligible tax benefits.
When buying a home, always opt for Reputed Builders like Ramky Estates. With reputed builders, there are a lot of benefits one can avail. If you are a homebuyer searching for 2 BHK/3 BHK Ready to move in apartments Hyderabad, check out Ramky One Galaxia Phase 1, a luxury project in the corporate financial district Nallagandla. Ramky One Galaxia Phase 1 is the king of locational benefits, with a hassle-free commute to the airport via ORR, proximity to international schools, famous hospitals, retail malls, and many more. The property includes several high-end facilities and amenities to help you live a healthy and active lifestyle. Over 300 happy families have put their faith in Ramky One Galaxia phase 1 and are enjoying a wonderful life in the heart of the city. Think quickly! There are only a few units left.