Buying an Under Constructed Property only For Investment Purpose?

Are You Buying an Under Constructed Property Only for Investment Purpose? Than beware of this…!!!

Many people don’t want to buy a residential or commercial property for living or a business. But they are buying it only for the Investment purpose. This is because since years they have accumulated the large sum of money and now they want to invest this corpus in the properties.

If you are buying an under constructed property as an Investment, you may be exposed to liquidity risk.

According to the laws, until there is conveyance or co-operative housing society formed by home buyers, Investors cannot re-sell their flats without a no-objection certificate (NOC) from the developer who might ask for transfer charges for the same.

Investors in a Central Mumbai property are facing a demand for transfer charges amounting to Rs.2500 per Sq feet from the builder.