Tips on Choosing the Best Upcoming Project in Goregaon

1. Tips on Choosing the Best Upcoming Project in Goregaon Due to the rise in demand and rates of good properties, getting a home of your own can be a difficult task, especially if you belong to the middle-income segment. But if you choose to invest in a pre-launch or upcoming project, you can become the proud owner of a house in Mumbai without spending too much money. This is because units in such projects are available at a discounted rate. As compared to the ready-to-occupy or ongoing projects, upcoming projects have units at a much less price. If you are lucky, you can avail at least 30% discount on a property’s pre-launch stage. Be it an upcoming project in Goregaon or any other location, developers market their projects at the pre-launch stage to acquire interest-free or initial capital. There is no doubt that investing in a pre- launch property can be a risky affair but if you are choosing a reputed real estate company then you need not worry. It is very important to choose a developer with a strong reputation and goodwill in the market. For instance, a company like Sunteck would be a safe bet. This company has various upcoming projects in prime locations of Mumbai. One of their upcoming projects is Sunteck City Avenue 5 in which you can make an investment and be assured of timely completion and delivery of the unit. It is necessary to choose pre-launch projects of renowned developers if you wish to feel secure about your investment. But there are various other pros and cons of investing in an upcoming project that you should be aware of. For instance, it is not sure that all pre-launch projects will get completed in the specified time frame. There may be delays in possession or the developer might keep the project on hold due to insufficient funds. Therefore, be very sure when choosing to invest in an upcoming property. Another risk involved in such an investment is that there are chances that the developer hasn’t attained all the necessary permissions for completion of the project. At times, funds raised as initial capital doesn’t cover the cost of structure construction due to which the project is kept on hold. Besides inspecting all details, as a buyer you should also find out if the developer has all the necessary documents for the project. Because if the developer has only received partial approval for the project then there are chances of delays. It will also mean that the bank will not sanction any home loan. Therefore, careful review of the project-related documents becomes a necessity whether you invest in an upcoming project in Goregaon, Andheri or Powai. Make sure you get bank approvals in case you are planning to apply for a housing loan to buy the property. It is important to ensure that the project you have chosen is in the process of being approved by leading finance institutions or banks. These factors should be kept in mind for a smart investment.