Ongoing projects are currently being constructed. There will be some time when they will be completed. One has to wait until the construction is completed. The rates will also get increase compared to the pre-launch phase. The price of the ongoing projects will be more than the pre-launch.
When someone purchases a pre-launch possession, the prices increase. They increase once the construction gets completed. The difference between pre-launch and ongoing projects is more. The completed flats are available for sale. If the demand is more, the prices will increase. The costs will also increase when there is development in the area. It can increase the value of the investment in some years.
When a builder announces a project without regulatory approval, it is said to be in the pre-launch stage. This is a plan that the builder is selling. The license is yet to be given. Approval is yet to be delivered, and the risk is very high. The agreement signed by both parties can be changed. A developer starts selling his project while approvals are still being worked on. The project is in the works.
The risks are more in a project. The incentives and discounts are also good. The promised returns are 20 to 30 percent. The prices are 40 percent lower. Some of these offers are scams. Investors are also falling into the trap. The money invested in the project must be lowered and cannot be refunded. The project is in the works.
Some approvals are still needed during the pre-launch stage. But the developer can start promoting a project. The developer has all the necessary permissions to sell the units. It is a blueprint that the builder is selling. The risk is high because the approvals are pending.
The ongoing projects are in the middle of being built. We need to wait until the date of completion. The price will go up when you buy a home before it opens. The difference is that the finished apartments are ready to be sold to other buyers in pre-launch and ongoing projects. If there is more demand, the prices will go up. The concept of pre-launch properties is gaining popularity in India. It is more in Gurugram, Ahmedabad, Mumbai, and Pune.
Although it has high risk, there are still many people who want to invest in them.
Prestige Group prelaunch apartment is Prestige Serenity Shores.