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Builder offering discounts before getting OC

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Builder offering discounts before getting OC

Last updated: December 31 2018
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  • Builder offering discounts before getting OC

    One reputed builder in North Bangalore is offering almost 1-2% discount in total cost of the house and he is getting OC in a month. The deal is book the house now and complete the formal buying process only after getting OC. After quizzing the sales guy , he said, you don't have to pay GST after we get OC so we will increase the base price. My doubt is, will I gain more if I wait it out ? Or is this a good deal ? Will prices soar after the property gets OC ?
    Last edited December 29 2018, 07:31 PM.
  • #2

    #2

    Re : Builder offering discounts before getting OC

    Does it have RERA registration as it does not have OC?

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    • #3

      #3

      Re : Builder offering discounts before getting OC

      It does have RERA registration, documents are proper. It's under construction building but construction almost finished.

      Comment

      • #4

        #4

        Re : Builder offering discounts before getting OC

        Currently GST before OC is 12% and after receiving OC there's 0 GST. Builders often increase base price after OC, as they borrow money to complete project, in the event of not so much of sale during construction.

        However, OC received and the apartment being livable after completion of all amenities are 2 different things. Remember builders work on fear psychosis, telling the customer "either you buy today or tomorrow it'll be pricier ..." (aka, "buy now or regret later"). It worked well till 2016, since then it is either stagnant or mild increase or mild decrease!

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        • gurubg15
          gurubg15 commented
          Editing a comment
          Exactly, in September he wasn't ready to reduce the price at all, he kept saying almost ready to move and price will only go up. And now when its ready they are offering discount. My doubt is if at all the project gets OC it's an advantage and price should automatically go up.
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