Under-construction property: Check developer credibility before investing

Construction delays forced homebuyers to pay equated monthly instalments and rent simultaneously

Homebuyer demand is increasingly moving from ready-to-move-in (RTMI) properties to newly launched or under-construction (UC) projects. According to property consultancy ANAROCK, new launches accounted for 40 per cent of the homes sold in 2024, up from 26 per cent in 2019.

 

Why RTMI was preferred earlier

 

Before the setting up of the Real Estate Regulatory Authority (Rera), many markets were dominated by fly-by-night developers. “They would announce projects but lacked the ability to complete them. This resulted in a massive burden of stalled or heavily delayed projects in which countless buyers lost money. It led to depressed consumer confidence and