Under Construction Flats vs. Ready Possession: Which Should You Buy?
Understanding Ready Possession Flats
A ready possession flat is a ready residential unit that has been cleared of all the necessary clearances and is ready to be occupied. The transaction formalities are completed, after which buyers can physically possess the home. This kind of flat suits those people or families who want to move in immediately, or those who do not want to be exposed to the uncertainties of the project schedules.
Key Benefits of Ready Possession Flats
The first benefit of a ready-to-move-in flat is urgency. No construction delay. Customers have an opportunity to see the real flat, to check the quality of the construction, and to check the facilities. This significantly minimizes the chances of non-conformance to promised specifications.
Secondly, ready flats are usually not subject to GST if the Occupancy Certificate is issued, which saves extra costs. Also, these units tend to be in well-developed locations, with well-established social amenities like schools, hospitals, and shopping facilities.
The reduced risk factor and the guarantee of legal adherence make ready flats an attractive choice to buyers who want stability and certainty.
Limitations of Ready Possession Flats
The primary limitation is the cost. Ready flats are priced higher than under-construction units. This premium reflects the security and immediacy that they offer.
Customisation is another limitation. Since construction is already complete, buyers cannot make structural or layout changes, and design choices are restricted to what has already been implemented.
Understanding Under-Construction Flats
An under-construction property is a unit that is still under construction and will be delivered when it is complete. Buyers usually invest in different stages of development based on architectural plans, sample units, or visual renderings.
This is especially appealing to those who do not have the pressure to move in immediately and want a more flexible financial strategy.
Key Benefits of Under-Construction Flats
The base price of under-construction flats is normally lower. These units are usually affordable to first-time homebuyers and long-term investors, as builders usually provide competitive prices and staggered payment plans.
Investors who purchase during the initial phases of a project usually appreciate property value when the construction is over. This renders under-construction flats a strategic choice for capital growth.
Other developers also provide a limited customisation during the early stages where buyers can customize layouts, finishes or fittings.
Section 24(b) of the Income Tax Act also has tax benefits where interest paid during the construction phase can be claimed in equal installments after completion.
Risks of Under-Construction Flats
The most important problem with under-construction flats is the delay in possession. Timelines can be changed by external factors like funding problems, regulatory delays, or labour shortages. There is also the possibility that the end product will not be as expected.
Since these properties are subject to GST, the overall cost can increase depending on the slab applicable at the time of purchase.
Moreover, assessing the final quality of construction is difficult until the property is delivered, which can lead to buyer dissatisfaction if the project deviates from its proposed standard.
Comparative Overview
| Aspect | Ready Possession Flat | Under-Construction Flat |
| Price | Higher | Lower |
| Possession Timeline | Immediate | Subject to construction progress |
| GST | Not applicable (if OC is obtained) | Applicable (currently 5% for non-affordable housing) |
| Customisation | Limited to surface-level changes | Possible during early stages |
| Risk of Delay | None | Moderate to high |
| Property Appreciation | Already included in the price | Potential for appreciation |
| Inspection | Actual unit available | Based on the layout/sample flat |
| Investment Suitability | Suitable for end-use and rental income | Suitable for long-term capital growth |
Which Should You Choose?
If your primary goal is immediate relocation, a ready possession flat offers certainty, faster move-in timelines, and a clear picture of what you’re buying. It also reduces legal and financial uncertainties.
If your focus is on long-term investment, phased payment schedules, or customisation, an under-construction flat is more suitable. However, buyers should ensure that the project is RERA registered and developed by a trusted builder with a strong delivery track record.
Ongoing Projects by Gini Constructions in Pune
Gini Constructions has delivered high-quality, thoughtfully designed residential projects for over two decades. Their current developments in Pune cater to diverse needs—be it quick possession, luxurious living, or value-driven investments.
Gini Aria – Tranquility Meets Connectivity
Gini Aria offers a comfortable 1 BHK and premium 2 BHK homes in Yewalewadi, which is a place that is designed to combine the serenity of living with the convenience of the city. The project is unique in its green landscaping, contemporary specifications and lifestyle features such as a clubhouse, amphitheatre and swimming pool. It is close to central Pune and has peaceful environs, which makes it a perfect option to homebuyers and investors.
Key Features:
- Eco-friendly campus with green zones
- Children’s play area, sand pit, and gazebos
- Spacious, Vaastu-compliant floor plans
- Project registered with MahaRERA: P52100013814
Gini Vivante – Celebrate Life, Every Day
Gini Vivante is a master-planned residential township located in Kiwale and has 2, 2.5, and 3 BHK homes. The project has more than 100+ lifestyle facilities that are sports, wellness, culture, and entertainment oriented. Vivante transforms the concept of community living with a private theatre and business centre, yoga decks and guest suites.
Club Vivante Includes:
- Zumba & Pilates Studio, Salon, Spa
- Crèche, Wi-Fi zones, Cafeteria
- Library, Board games, Card rooms, Foosball
- Secure locker facility and indoor gym
- MahaRERA registered: Phase-1: P52100034447, Phase-2: P52100050601
Gini Belvista – A New Benchmark in Urban Living
Gini Belvista is a residential and commercial project in Dhanori, which provides 2 and 3 BHK apartments. It is a family-friendly project that offers a wide range of lifestyle facilities, including co-working areas, aqua zones, yoga zones, kids zones, and others.
What Sets Belvista Apart:
- Seamless access to Pune Airport and major roads
- Senior citizen zones and multipurpose play courts
- On-site commercial spaces for daily convenience
- MahaRERA registration: Phase-3: P52100032590
Conclusion
Whether to buy an under-construction or a ready possession flat should be determined by your financial capability, the urgency to shift and the expectations you have of the property. The two options are used to meet different needs. The only thing that does not change, though, is the significance of purchasing the product of a reliable developer.
Gini Constructions has a rich history and current developments that serve different types of buyers, and thus it still provides homes that are a combination of quality, comfort, and location. Gini Constructions has a project that suits your needs whether you are seeking a fast possession, long-term investment, or a lively township life.
