When it comes to buying a second home in India, Goa is hands-down the most preferred location to invest in properties. And why not? The state is blessed with natural beauty along with modern amenities. You, too, can own a piece of this tropical paradise and call it home. Goa’s luxury real estate market has been booming ever since the pandemic hit. The need for open spaces became a necessity, due to which many people started flocking towards states like Goa. And if you too have been pondering buying a property in Goa, in this blog we will explain why it is better to buy an under-construction property.
Benefits of Investing in an Under Construction Property in Goa
Low Purchase Cost
The cost of under-construction properties such as apartments or villas in Goa or elsewhere would be way less than a ready-to-move-in, fully furnished property. Investing in an under-construction property will undoubtedly fetch you more returns by the time it gets completed. If you do not need to move in urgently to your new home, waiting until the construction is completed can actually be worth it.
Higher Appreciation Value in Real Estate
If you buy property in the best locations of Goa such as Calangute or Saipem, the price of property and the value of such property would surge with time. Buying a home at an early stage might also result in significant return if you plan to sell it later. And if you wish to keep your second home in Goa, by the time it would be ready, you would have saved ample amount of money.
Payment Flexibility
If you plan to buy a villa in Goa, even a fully furnished one, you might have to pay the full amount with other miscellaneous expenses. However, buying an under-construction home in Goa is favourable as it allows a homebuyer to be flexible with payment options. You might only have to pay 15 to 20 percent of the amount with the initial booking, followed by EMI payments or any other installment payment options, depending on your developer. This saves you from gathering a huge sum of money and paying the amount in a lump sum.
Backing by RERA
RERA stands for Real Estate Regulatory Authority, a government authority that aims to protect the interests of buyers while securing any property, whether residential or commercial. It also ensures that buyers get transparency and compliance from real estate developers. Buying a RERA-approved property in Goa ensures that you will get on-time delivery of your purchased property. If a real estate developer doesn’t complete the project within the promised time frame mentioned in the sale agreement, they shall be liable to return the payment received from the buyer in respect of the property or plot.
Flexibility of Designing
An under-constructed property gives you the freedom as a buyer to ask for customisation in design or interiors from your developer. Something like that is highly unlikely to be done in a fully furnished, move-in property. It is still possible to make slight changes to an under-construction property or make changes according to the Vastu. However, when you buy villas in Goa with Veera Developers Group, you don’t have to fret over Vastu, as our projects are already Vastu-compliant.
One of the major concerns that deters people from investing in under-construction property is the fear or apprehension of extreme delays in project competition or property fraud. However, once you know that you are investing in a RERA-approved project, your hard-earned money is safe and your investment is secure. The safest route to buying property in Goa is to buy from a trusted real estate developer such as Veera Developers Group, a prominent and trustworthy name in the luxury real estate sector since 1981. Our current ongoing project, Veera Eminence, nestled in Saipem, overlooking the Nerul River, is a coveted luxury villa and is an epitome of sophistication. Invest with Veera Developers Group today and experience the highest quality of life and living standards in Goa.