At the end of September 2019, there existed an unsold inventory of 6.56 lakh homes across the country’s top seven cities. Of these, nearly 81,300, or 12 per cent, consisted of ready-to-move-in properties, according to data from ANAROCK Property Consultants.
When he purchases a ready-to-move home, the buyer is able to circumvent development risk - the risk that the developer may not complete the project on time, or may not complete it at all because he runs into financial or regulatory difficulties.
However, the buyer must have the money required to make the down-payment. The EMI on his loan will also start immediately. In an under-construction property, he has to pay only the pre-EMI during construction.