These Differences Between Pre Launch And An Ongoing Project Can Make You Decide Better

Introduction

If you're new to the realm of real estate, you may not know what terms like "Pre-launch" and "Ongoing Project" mean. In this post, you will learn the difference between Pre-launch and Ongoing Projects, their benefits, and some of Pre Launch and Ongoing Projects in Bangalore.

Pre Launch Project

Pre Launch refers to the project that is yet to get legally approved. In this stage, the developer starts to advertise the project. These projects need to be legally approved, and buying property at this stage can be risky. The first-time home buyers prefer this project as they save costs.

Benefits of Pre-Launch Projects

Like every other project, Pre Launch Projects also have their benefits. Here are a few benefits of Pre Launch projects that you should know.

• These Projects are readily available at lower prices than the current market price. So, buyers who want to save money and First-time Homebuyers will opt for these projects.
• During the pre-launch stage, the residential projects are available at 30 to 40% of the reduced price.

While choosing the Pre-launch project, look for the developer's reputation and select the project from good builders. Some of the Pre launch projects in Bangalore are as follows:

• Sobha Royal Crest
• Sobha Highland
• Sobha Sterling Infinia
• Prestige Park Grove
• Godrej Splendour
• Godrej Ananda
• Brigade Cornerstone Utopia
• Brigade El Dorado

Ongoing Projects

The Ongoing Project is one in which the developer has no completion certificate. These types of projects are legally recognized. It is under a documentation approval process. Like the Prelaunch Project, the Ongoing Project also comes with some benefits.

Some of the benefits of buying Ongoing Projects are as follows:

• If there is any damage to the amenities under the warranty list, they can be replaced in this project.
• You have the freedom to design your home and modify it based on your choice.
• You will get more time to arrange the fund. So, no more EMI burden.
• There is a chance of price appreciation at the project completion stage. So, the buyer of the property has profits in terms of price.

Here's the list of some Ongoing Projects in Bangalore.

• Sobha HRC Pristine
• DS Max Sky Classic
• Sobha Forest Edge
• Prestige Finsbury Park
• Brigade Ivory Phase 1
• Paradise At Brigade Cornerstone
• Brigade Citadel Phase 3

Difference between Pre-launch and Ongoing Project

If you need clarification with these types of projects, here are a few differences between Pre-launch and Ongoing Projects.

The pre-launch project offers property for sale before getting any approval legally. In the case of an Ongoing Project, the property for sale is legally recognized. But still, the developer has no completion certificate.

The cost of the Pre-launch project is comparatively lower than the Ongoing Project. So, if you want to buy a home at lower prices, you can go for Pre-launch projects.

Another main difference between the Pre-launch and Ongoing Project is the risk factor. As there is no legal approval, investing in the Pre-launch project is risky. So always buy the Pre-launch project from Reputed Developers to minimize the risk.

There will be some minor changes in the Pre-launch project than the Ongoing Project.

Brigade Valencia prelaunch apartment development project at Hosur Road, South Bangalore.