Introduction: What Are Pre Launch Projects?
Bangalore continues to be in the spotlight of investors and property owners, thanks to the elevated standard of living in the city. Different localities in Bangalore have witnessed a boost in the social infrastructure over the last few decades. If you are willing to purchase a new property in the city, it would be wise to look out for pre launch projects in Bangalore. Prelaunch projects are those properties, which the developer announces, but still must get government approvals for. The pre-launch projects are usually launched at 20-30 per cent lesser cost than ready-to-move-in projects. By investing in pre-launch projects, you can get a better return on your investments.
Benefits of Investing in Pre Launch Projects in Bangalore
Investing in a pre-launch property can get you good returns on your investment. The cost of a pre-launch property can be 20-30 per cent lesser than a ready-to-move-in property. It can result in significant savings for an investor. Pre-launch properties in new areas, which are about to see development, could see major windfalls for buyers and investors in the long term.
Top Pre Launch Projects in Bangalore: A Comprehensive Guide
Some of the best pre launch apartments in Bangalore are available in Hennur, Sarjapur Road, Chandrapur, Whitefield, Jakkur, Devanahalli, and Kanakapura Road. Moreover, both reputed and new developers have come up with these pre-launch projects. Among the popular gated communities that are available as pre-launch projects, you have developers like the Assetz Property Group, Godrej Properties, 42 Estates, the Sobha Group, and the Prestige Group. Depending on your needs and aspirations, you can invest in the property in Bangalore.
The demand for sophisticated property in different localities in Bangalore has been increasing consistently over the months. It is a wise decision for investors to purchase these homes for themselves early. As a result, they would be able to capitalize on the growing real estate market in Bangalore. The demand for rental properties in different areas around the city is also increasing. Investing in these properties early, you can acquire them and put the homes on rent. This would yield a consistent return over the years.
Factors to Consider When Investing in Pre Launch Projects in Bangalore
Some of the factors to consider while investing in a pre-launch project in Bangalore is the reputation of the developer. It is important to go for developers who are known for quality projects and timely delivery. Investing in a pre-launch project in Bangalore can give good returns on your investment.
The Risks and Rewards of Investing in Pre Launch Projects
A property at the pre-launch stage may not have all regulatory approvals from civic and govt authorities. As many as 40-50 approvals are required, including those from the city development authority, National Monuments Authority, and Defence Ministry, among others. Getting these approvals can take a long time, and investors must be prepared for delays in project completion. On the other hand, the rewards of investing in prelaunch property are high as well as these properties are usually priced significantly lower than ready-to-move-in projects.
How to Find the Best Pre Launch Projects in Bangalore
Investing in a prelaunch project is a high-risk option which can pay off handsomely in the long run. Investors and end users must undertake due diligence and establish if the builder has a clear and marketable title of the land on which the project is being built. Investors must check the builder’s brand and track record to ensure that the project is completed on time. Buyers must check that the project has a Commencement Certificate (CC) and an Intimation of Disapproval (IOD to legally construct the building. It is ideal to go with a reputed developer, as buyers can be assured of a safe investment.
