Buy Discounted Flats in Resale Market

Published on April 1, 2013, 03:55 PM IST
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Over the years property prices are going in the upward direction without showing any sign of declining. But still developers are launching new projects under luxury and super luxury category and homes are getting sold in the country.

The maximum heat is faced by the cash conscious buyers. Now the question is should these buyers stop or restrict themselves from buying property? Surprisingly, there comes a new option of buying cheaper flats on resale market or getting huge discounts on resale flats, reports Amit Shanbaug of Times of India.  

But buyers may think of why developers are offering big discounts on resale flats? No, these flats do not come under old building category or flats in decades old projects. However some of these flats stayed empty since its launch and developers are giving away for discounts.

There are other reasons as well for the discount, like resale flats that are up for sale at discount rates are flats which have been snapped up by investors or home buyers during the pre-launch stage hoping to sell after some years to earn more profit. “Many investors book a property at the initial stage just to make a small profit. If they want to make a quick exit, they will price it cheaper than the one offered by the developer, for a faster sale,” said Yashwant Dalal, President of the Estate Agents Association of India, an apex body of real estate developers.