The real estate market in Noida or Greater Noida is currently booming. There is a wide variety of properties for homebuyers to choose from, both in the commercial and residential sector. There is no shortage of properties in Greater Noida as developers are continuously launching new luxurious projects offering ready to move villas in Greater Noida and luring investors to invest.
Availability of the multiple-choice of properties puts the homebuyers into a dilemma in choosing a property. Most people tend to select their homes based on their requirements and budget. But a new trend is noticed among the buyers is they give more preference to the ready to move villas in greater Noida.
And why don’t ready to move properties not become so popular, they give possession on time, and all the development work is already done by the developer including the completion certificate and possession documents. So, what makes the people invest in ready to move villas in Greater Noida?
Here are few things that make homebuyers to choose ready to move villas in Greater Noida.
Total Transparency
This the most significant advantage when choose to buy ready to move villas in Greater Noida. You get what you see, because the property is already developed so there is no fear to rely on the developer word for your property. Earlier this used to happen that developers promised something and deliver something else. But, with ready to move projects there is no such thing. You can check the construction quality, size of rooms, and other amenities promised by the builder and then you can make your purchase.
You can also make a site visit and check the view from your villa or to get an idea about the neighborhood, benefits around the connectivity choices, and so on. This also allows the purchaser to make a well-informed decision.
Immediate Possession
Ready to move villas offers possession right after you make the deal. This is the best thing with ready to move projects. You bought your villa and you can shift into the villa right after. Even if you don’t want to shift or you have purchased it for investment purposes then also you can just rent it out from the next day and start earning returns on your investment. If you're one of the people who are looking to buy their home and save on rent, then ready to move villas in GreaterNoida are the perfect choice for you.
Research on local pricing or rental income patterns and on-going neighborhood infrastructure will help you predict the plausible escalation of capital in the times ahead.
With ready-to-move homes, you can also opt to sell off your property if such a need occurs.
Free from GST
Ready to move flats are excluded from GST, which means that the GST rate on ready-to-move flats is not available. This is another great benefit of purchasing such residential property at present. That said, buyers of ready-to-move homes benefit from a reduction in the overall financial outflow. With a GST rate of 5 percent applicable to under-construction properties, getting to pay no tax on ready-to-move villas is certainly big.
Tax Benefit On HomeLoan Repayment
In compliance with the Income Tax Act 1961, borrowers are entitled to claim a deduction against principal repayment that has an aggregate cap ofRs. 1.5 lakhs under Section 80 C and up to Rs. 2 lakhs for interest payments under Section 24(b) for a self-purchased home.
However, the catch here is that persons are only liable fora tax deduction if the building of the property is complete and records relating to the registration and possession of the property are in place. This simply means that once the borrowers have ownership of the land, they can not assert any tax benefits against the repayment of the home loan.
In addition to all of the above, let's just assume that buying a ready-to-move villas in GreaterNoida is a safe bet since there is no additional difficulty in delaying the completion of the project for any reason whatsoever.
