Under construction or ready to move: how to choose

The choice between an under-construction and a ready home is really a choice about risk and timing. Neither is better in general; one is usually better for your situation.

Under construction

• A lower entry price and staged payments linked to construction.
• A choice of floor, facing and unit that has not been picked over.
• GST applies to the price, and possession depends on the developer's delivery.

Ready to move

• You see exactly what you are buying, including the neighbours.
• No GST on a completed property with an occupancy certificate.
• You can move in or start earning rent immediately.

If you are paying rent today, add eighteen months of rent to the under-construction price before you compare.

How to reduce the risk either way

For under-construction homes, check the RERA quarterly progress reports and the developer's past delivery record. For ready homes, ask for the occupancy certificate and the society's maintenance accounts before you sign.