What is Pre-launch?
December 16, 2016
Pre-launch is such a common term in real estate. You might have heard a lot about the various advantages of pre-launch from your friends, relatives, and realty experts. However, if you are wondering what exactly is a pre-launch, how it works, and how it benefits the builders as well as the buyers, read on!
Pre-launch is ideally the time when a project’s approval processes are still in progress. At this phase, builders make an announcement about the project proposals and start the sale for the same. Buying a property in a pre-launch sale is beneficial to home buyers as it offers a good rebate on the overall costs.
In other terms, when you invest in a pre-launch property, you will not see the actual property. You will see only the proposed layout and plan. In short, you will see the property you are buying grow from plot to a beautiful home.
Who prefers to buy properties during pre-launch?
While anyone and everyone can purchase a property during pre-launch to enjoy the different benefits, it is investors and second home buyers who prefer to buy properties during pre-launch.
- When you buy a property during pre-launch for investment purposes, it is quite beneficial. You get the property at a reduced price, and once the property is ready, you can sell them at the current market rate, which will definitely be higher than the value you brought the home for.
- As pre-launch properties may take anywhere from 12-24 months to be delivered (and even more in some cases), it is advisable for people who have no immediate time constraint to invest in pre-launch properties.
Things to consider while buying a property in pre-launch:
While the benefits attached to the purchase of property in pre-launch is quite rewarding, as a home buyer or investor, you need to be cautious when buying a property in pre-launch.
If you are looking to purchase a pre-launch property for investment and resale purposes, then you need to make sure that all the documents are in place.
When you buy properties from credible buyers like Casagrand, you can be assured that you not only receive price discounts but all the legal procedures and documents, like building completion certificate, occupation certificate, etc., would be thoroughly taken care of.
Also, read our blog on “The Complete Pre-possession Checklist for Your New Home.”
Interested in investing in pre-launch projects, here are some of the premium projects from Casagrand:
- Casagrand Mannivakkam – Lifestyle apartments just 10 mins from Tambaram
- Casagrand ECR14 – Sea-facing, high-rise apartments, just behind Mayajaal
- Casagrand Madhavaram – Luxury High-rise apartments
- Casagrand Korattur – Exclusive apartments just 10 mins from Anna Nagar
- Casagrand Kuthambakkam – Premium Plots with lifestyle amenities
- Casagrand Thirumudivakkam – Exclusive 3 BHK Villas & Row Houses, just 10 mins from Pallavaram
We hope, by now, you would have had a clear idea about pre-launch properties. Go ahead and share this with your friends.