Question 1

Why is under-construction property cheaper?

Accepted Answer

You take on completion and delay risk, and payments are staged over the build period rather than paid upfront, so developers price it below ready inventory.

Question 2

Does GST apply to under-construction flats?

Accepted Answer

Yes. Under-construction residential property attracts GST at the applicable rate on the agreement value; the rate differs for affordable housing. Stamp duty and registration are charged separately.

Question 3

What must I verify before booking?

Accepted Answer

The project's RERA registration number and its declared completion date on the state RERA portal, the approved plan, the builder's delivery record on earlier projects, and the payment schedule in the allotment letter.

Under-construction property for sale in Chennai

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