Bangalore, officially known as Bengaluru, is a megacity in the southern Indian state of Karnataka. The ‘Silicon Valley of India’ is home to a metropolitan population of around 11 million people, making it the third most populous city in India. It is given the name due to its role as the nation’s leading software exporter and major semiconductor hub. Several tech heads and entrepreneurs look for a flat in Bangalore to move there and fulfil their dreams.

Bangalore is regarded as one of the world’s fastest-growing major cities across the globe. It is considered the epicentre of high-technology-based heavy manufacturing industries, with several large multinational technology corporations such as Google, Microsoft, and Amazon establishing headquarters here. This city is home to many prestigious engineering and research institutions, which lure entrepreneurs to set up their businesses in Bangalore and tech heads to work amongst the brilliant.

If you are one of those looking to buy house in Bangalore but are still confused about making an informed decision, this is the blog for you! When exploring apartments in Bangalore, you must also consider the under-construction ones.

Read more to find out why you should buy flat in Bangalore that is still under construction and how will it benefit you.

Advantages of Investing in an Under-Construction Flat in Bangalore

Buyers prefer under-construction homes instead of ready-to-move-in apartments due to the numerous advantages they provide. These include lower prices, more customization, and flexible payment options. Under-construction properties seem to be taking off in a swiftly growing real estate market.

1. Cost-saving perks

Under-construction flat price in Bangalore is often lower than ready-to-move-in flats, which enables you to save money. This implies that you can get better value for money and save a chunk on the purchase. The tax benefits on under-construction properties are just the cherry on top.

  • Section 24B of the Income Tax Act of 1961 provides a tax benefit for under-construction property of up to Rs. 2 lakh per financial year. This amount is eligible to be deducted from the interest rate on a home loan.
  • After reaching the Section 24B limit, taxpayers can claim an additional tax deduction of Rs. 50,000 under Section 80EE.
  • Section 80C provides a tax benefit for the under-construction property of up to Rs. 1.5 lakh per fiscal year. The amount of which can be deducted from the home loan’s principal amount.

2. World-class amenities

Unlike ready-to-move-in apartments, investing in properties that are under construction gives you the privilege of enjoying all the amenities without them being damaged. The excitement of using new equipment is always refreshing and worth the experience. With new under-construction properties, you are also assured world-class facilities like a gym, swimming pool, kids’ play area, multipurpose courts, and more. Find ample of such amenities like these at Casagrand Projects in Bangalore.

3.Increased appreciation potential

As the construction progresses, the price of the property increases, and so does the development of the surrounding infrastructure. This further increases the property value making your decision to buy apartment in Bangalore while it is still under construction your right way forward.

4. Customisation options

If you want to customise your residence into a unique space while also getting the best value for your money, altering an under-construction flat to meet your requirements may serve as a great choice. When customising an under-construction flat, start with the layout and available space. Doing this will help you decide the placement of furniture and upholstery and also aids in giving the house a unique vibe of its own.

You can also order custom-made fittings and fixtures like windows, doors, kitchen cabinets, closets, etc. A trusted builder usually accommodates these demands and would also advise you on current market trends. To invest in some of the best properties in Bangalore, you must explore a wide array of gated communities established by Casagrand. With projects like Casagrand Zaiden, Casagrand Keatsway, Casagrand Aquene, Casagrand Hazen, Casagrand Meridian, Casagrand Lorenza, Casagrand Galileo, Casagrand Orlena, Casagrand Royce, Casagrand Boulevard, and many more, you are offered an assortment of luxurious 1, 2, 3, and 4 BHK homes by this renowned builder.

5. Flexible payment options

Unlike ready-to-move-in flats, the under-construction properties require the booking fee only, which is 10-15% of the total amount. You can pay the rest in instalments as per the construction plan or pay EMIs to the bank if the property is financed. In such cases, you also get time to mobilise your stamp duty and registration charges.

So, if you wish to buy a home in Bangalore, opt for the one that is still under construction thus ensuring you enjoy the perks of it in the future. We hope this blog helps you understand “why” and aids in making an informed decision.