It can make sense to buy an under-construction property in Mumbai, but it also comes with certain risks and considerations that you should be aware of before making a decision.
One of the main advantages of buying an under-construction property is that it can often be more affordable than buying a completed property. This is because developers may offer discounts or other incentives to buyers who purchase early in the construction process. Additionally, you may be able to customize certain aspects of the property, such as finishes and fixtures, to your liking.
However, there are also some potential downsides to buying an under-construction property. The biggest risk is that the project may experience delays or other issues that can affect the timeline for completion. This can be particularly concerning in a city like Mumbai, where construction can be complicated by factors such as limited space and regulatory hurdles.
Another risk is that the final product may not match your expectations. This can be due to differences between the developer's plans and the finished product, or issues with the quality of construction.
Overall, if you are considering buying an under-construction property in Mumbai, it's important to do your due diligence and carefully consider the risks and benefits. You should research the developer's track record, as well as the regulatory environment in Mumbai, to assess the likelihood of delays or other issues. Additionally, you may want to work with a reputable real estate agent who can provide guidance and help you navigate the process.