The luxury residential projects in Bangalore are a thing that HNIs and ultra-HNIs look out for. This becomes more crucial when it’s about under-construction properties. The reason is its commendable growth over the years. A recent report published by Savills India states that the under-construction property market has recorded up to a 55% price hike in 2024.
On average, the appreciation for under-construction developments remains approximately 25% Y-o-Y, surpassing the 19% surge seen in completed projects. So, there is undoubtedly an indication that highlights the investor and homebuyer’s preference for under-construction apartments in Bangalore. Moreover, the top builders in Bangalore, like us at MAIA Estates, are making it more obvious with sustainable (smart-energy) and tech-enabled practices.
Moreover, the valuation of under-construction properties is expected to surge upon possession, due to the regional advantages that each prominent locality of Bangalore offers. From schools to hospitals to world-class IT parks, everything will be in the vicinity of the residents of these upcoming projects.
Let us go through the benefits of under-construction residential projects in the Silicon Valley of India, which might help you make an informed decision-
- Versatile Payment Options: As compared to ready-to-move-in apartments (which require a lump sum down payment), these flats normally follow construction-linked payment modes. To break down the meaning- in this case, payments are distributed across project milestones, giving the buyer ample time to arrange and plan funds at an early stage.You can structure your financials with your family, aligning EMIs and your monthly income. The effortlessness of phase payments happens to be a substantial benefit that leverages both seasoned investors as well as first timers.
- Budget-Friendly as Compared to Ready-to-Move-In Flats: Builders normally keep the price low at the initial stage of the residential project construction. With time, at the point of project completion, the market sees a substantial value appreciation, particularly in high-demand metro cities. So smart investors look for these kinds of deals to save their bank balance and gain high ROI.
- Greater Appreciation Potential: ongoing construction for residential projects has robust potential for capital appreciation, particularly in emerging investment and rapidly growing corridors.You can take advantage of this pattern by investing in under-construction residential projects in Bangalore. The property valuation grows in parallel with the construction progress, neighbourhood development (such as malls, multiplexes, metro lines, etc), and market demand. This results in the greatest ROI one could ever think of.
- Safeguarded Valuation Against Market Fluctuations: As indicated earlier, investing in an under-construction property allows the buyer to ensure a long-term asset at a relatively competitive entry cost. With time, this will increase with the growth of infrastructure around it.The opportunity to lock in the property deal at the moment of booking, irrespective of future market variation, is one of the greatest advantages that goes overlooked. As the project nears completion, the buyer realizes the high ROI that they have ensured.
- Get Modern Construction Standards and Amenities: Ongoing residential projects in Bangalore, facilitated by renowned developers like MAIA Estates, align with the modern construction standards, evolving consumer expectations, and sustainability benchmarks.All our ongoing projects, for instance, the 27 Summit, Richmond Road, Bangalore, incorporate state-of-the-art structural techniques, eco-friendly materials, and upgraded safety systems, promising lifelong durability and compliance with current legal clauses (RERA Compliance). Additionally, it’s smart home system integration and unmatched facilities like wellness centres, private Jacuzzis, etc, would add to your everyday luxury and convenience.
- Selecting Your Preferred Units: Once a buyer makes a deal at the early stage of an ongoing residential project, he or she can secure the ideal unit according to their preference. Also, they can opt from a diverse range of configurations, favourable views, and favoured floor levels. The chances of having options in these categories narrow down when it’s about ready-to-move-in luxury homes in Bangalore.
- Minimal Maintenance Cost: If you are availing an under-construction residential property, then you would be moving into a brand-new apartment. This minimizes the cost of maintenance in its early years. Thus, you get to avoid the maintenance hassle and expenses, which pose as an advantage in this scenario.
- Multiple Tax Advantages: When you (as a buyer) go for an under-construction property in Bangalore, you become eligible for several tax benefits under the Income Tax Act, rendering your investment more beneficial in the long run.Section 24 (b), Section 80C, and others lay down the deductions and other interest benefits in home loans for this kind of property purchase.
Conclusion
Investing in an under-construction apartment in Bangalore is more than just securing a home for your family. And it will be the best decision you can make to avail the configurations, flooring, and design of your choice. With flexible payment plans, minimal maintenance, tax benefits, and compliance-driven structures, an under-construction residential property is the holistic package that you can get as a buyer in Bangalore.
At MAIA Estates, we are redefining the scope of luxury apartments in Bangalore and other regions. Watch out for our 27 Summit project if you are planning to buy an ongoing project; otherwise, you can also go for an apartment at Pelican Grove, Jakkur- one of our iconic residential masterpieces. For more information, call us today to resolve your queries and secure a future-proof investment.