Planning to buy a 1 BHK flat Zirakpur? The biggest dilemma when it comes to purchasing a home or plot in Zirakpur is whether to opt for a re-sale unit or look for a project that is still under construction. The pay and clear option for property owners in Zirakpur is a new trend started by professionals. The trend of purchasing a flat through this mode is evidently more advantageous considering that you can just pay and clear at a good return, even if you have a home loan behind you.
Here are 5 reasons why you should opt for pay and clear choice while buying a flat in Zirakpur.
Rising home Loan prices
Not many can afford to pay up the cost price of the units in one go. Rising home loan prices are difficult to manage. Hence, pay and clear choice option is preferred where you can recover the base price of a completed project once you get possession from the builder.
No staggered payments
The fallacy of staggered payment is the sudden rise in the project cost to labours and material cost. Since, the project cost is regulated by the material cost and the government taxes, staggered payment comes as the biggest hurdle. They may seem to be tempting in the beginning, with just 20 per cent of the base price fetching you a registration. Staggered payment linked to the progress of the project is common, but when you have pay and clear option, it is less troublesome.
Open for interior modifications
Some projects are time-based that don’t allow the buyer to make any change for the first 3 years of the possession. With pay and clear option, this can be meted out positively. You can get the interiors done as per your own choice and requirements.
Legal formalities are strong
Are you are tired of running after the brokers and still finding it hard to land a property? Try builders and investors offering the Pay and clear option in Zirakpur. The legal formalities are strong and you have to build a strong rapport with the builder and the Development Authority to seek over 30 permissions from 19 various departments. It gets complex if you are the first-hand buyer. Opt for the pay and clear if you wish to buffer your property search against legal formalities. Real estate experts online like commonfloor.com can help you out to make the best decision.
Pay and clear option in Zirakpur is a convenient option considering there is still a lot of haze around the maintenance charges and parking charges. With pay and clear option offered by the project developers, the evaluation of the property remains very much static considering the unit is to be used for end-user. Rental agreement with buying option is also a popular trend evident in Zirakpur. Tenant has the option to buy the property after the rental agreement expires.
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