Thinking of buying a property under-construction? Learn the risks, benefits, and legal obligations. This JSB Group checklist covers everything, from RERA to understanding payment options so you make a decision that is informed and an investment that is smart.
Under construction properties are properties that are still in development and the construction is not yet finished or ready for occupancy and can either be residential properties or commercial properties.
With this blog we shall understand what is under construction property, benefits of buying under construction property, risks, and whether you should invest in under construction property.
An under construction property is exactly what it sounds like…a real estate project that is currently being built and not yet ready for possession. Think of an under construction property as a home or commercial space that’s still in the making, the walls might be up, or maybe it’s just a cleared plot with a board announcing what’s coming, but either way it’s not ready to move in, yet.
Simply put, buying an under construction property in Mumbai means investing in a property that is yet to take its final form. These properties are sold before the construction is completed and builders usually open bookings in phases for interested investors and home buyers.
Over the last few years, there's been a noticeable shift in how Indians approach real estate, as more and more homebuyers, especially first time homebuyers and young families are showing interest in under construction properties.
The answer is affordability. Under construction homes are usually cheaper than ready-to-move-in apartments, which allows home seekers and buyers a bit more flexibility to enter the market at a more comfortable price point and this pans out well in cities like Mumbai, Pune, Delhi, and Bangalore where the price of ready to move in real estate are soaring the sky. The thing with booking early is that when you book early, as a homebuyer you not only get to choose things like floor tiles, kitchen layouts, and minor design tweaks but also enjoy flexible payment options on your under construction property. Instead of paying the entire amount upfront, payments are made in stages, based on the construction milestones achieved by your builder and developer, this makes it easier for buyers to manage their finances and complete the purchase.
Lastly, with RERA regulations in place, there’s growing confidence among buyers. Delays, poor construction quality, and lack of transparency were once major red flags but today, developers are more accountable than ever before which gives home buyers more confidence and power to make the purchase of an under construction property in India.
In short, under construction properties offer a blend of savings, choice, and flexibility which in today’s economy is a head turner for many.
1. Lower Entry Price:
Under construction homes are usually 10–30% cheaper than ready to move in flats and this price gap allows home buyers to invest in better locations, bigger configurations, and properties from reputed builders that otherwise might be out of budget if bought when ready for possession.
For example, a ready to move in 2 BHK flat in Vasai might cost up to ₹60 - ₹80 Lakhs, but the same apartment, with the exact same carpet area while under construction can be purchased for ₹35 - ₹45 lakhs.
That’s a big difference especially for many middle class families and first time home buyers, purchasing their dream home.
2. Flexible Payment Plans
One of the biggest advantages of investing in an under construction property are the flexible payment options they offer.
Instead of paying a lump sum amount upfront, developers usually accept payments in stages based on the stage at which the construction is. This allows investors and buyers to plan their EMIs more efficiently and hold much more liquidity while asset building in real estate.
3. Customization Potential
Buying an under construction home allows you to make it your own, even before you move in. Some builders and developers in Vasai give buyers the option to choose between tile finishes, paint colours, and even the kitchen layout, especially if you’re booking early on in the project.
It’s not the same as designing a bungalow from scratch, of course. But having a say in how your home looks without having to break walls later, is a win. And for many homeowners, it adds a sense of connection to the space. After all, it’s not just a flat; it’s your flat, with touches you chose.
4. High Appreciation Value
Here’s something most seasoned buyers will tell you: a well-timed under construction property can quietly build wealth in the background. The price you lock in today may look very different by the time the building is ready.
In growing areas where infrastructure is catching up; new roads, metro lines, or malls coming up property values tend to climb over those 2–3 years of construction. So, while you wait, the market does the work. You move in or sell and realize your investment has already appreciated.
If you’re someone thinking of something long term, JSB Homemakers offers upcoming projects in the fast growing real estate hot spots of Vasai, Virar, Nalasopara and beyond, namely, JSB Nakshatra Gokul is one such project that offers high value 2 BHK flats in Virar with all the modern amenities at affordable rates, so you can invest early, earn more, and do better.
While buying a home that’s still under construction can save money and offer flexibility, it also comes with a few very real risks. Here's what you need to watch out for:
1. Possession Delays
One of the most frustrating and commonly faced issues in real estate in 2025 are delayed possessions. Delays can happen for a whole lot of reasons: labor strikes, hikes on raw material, legal troubles, bad weather…the list can go on and on and that is why it is always advised to assess your risks and make an informed decision as even a 6 month delay in possession can throw things off guard.
2. Builder Credibility
The real estate sector has cleaned up a lot since the inception of RERA but the Vasai-Virar real estate market and real estate as whole, still has its fair share of shady builders and developers who miss deadlines, make fake promises, or just outright manipulate people to scam them for their money and never deliver or deliver with a thousands compromises.
Maybe the quality is bad, maybe the windows don’t work as they are supposed to, maybe there is an empty space where you were promised a “kitchen”. But luckily for you, you can skip all this hassle and put your trust in JSB Group; a RERA registered builder in Vasai with one simple promise, “Timely delivery, every time”. Click here to check out some of their existing and Top Upcoming real estate projects in Vasai, Virar, Naigaon, Nalasopara, and beyond.
3. Regulatory Approvals
Any residential and commercial real estate project in Mumbai or anywhere else in the world needs a long list of approvals, commencement certificates, environmental clearances, occupancy certificates, and more before going into development followed by possession. If even one of these is missing, construction can be legally halted mid way, causing unprecedented delays and capital losses.
Always make sure to check for key approvals and RERA registration before investing in a property.
4. Financial Strain
Here’s something many first time home buyers don’t realise before it is too late; if the property you put your money on isn’t delivered on time, you might be stuck paying EMIs on your home loan alongside the rent for much longer than expected, straining your wallet more than anticipated, making ‘living’, ‘surviving’.
Planning tip: Always keep a buffer of 6–12 months while budgeting. And wherever possible, look for possession linked payment plans instead of front-loading your EMIs.
✅ Check RERA Registration
Visit the Maha RERA portal and search the project name, if the project is legal you will find it here, project timelines, layout plans, complaint history, all of it.
✅ Research the Developer
This obviously goes without saying. As a home buyer it is your responsibility and obligation to research the builder. Look into completed projects, reviews, financial reports, and most importantly delivery records.
✅ Legal Document Verification
Ensure you’ve seen the Commencement Certificate, Land Title Report, Environmental Clearance, and Layout Approval. Ask for soft copies and have them verified.
✅ Stage-Wise Payment
Schedule Make sure your payment option is as per the construction milestones achieved, so you make payments according to the stage of your construction and avoid paying lump sum from early on.
✅ On-Ground Inspection
Visit the site. Visit the site. Visit the site. Don’t ask why, just visit the site.
1. Home Loan Approvals
2. RERA Mandates
3. Tax Implications
A Quick Comparison
| Criteria | Under Construction | Ready to Move |
|---|---|---|
| Price | Lower | Higher |
| Possession | Delayed (12–48 months) | Immediate |
| Customization | Partial (if early stage) | None |
| Risk | Moderate (depends on builder) | Minimal |
| Loan Approval | Project-linked, moderate documentation | Easy, usually fast |
| Appreciation Potential | High | Stable or limited |
Buying an under construction property isn’t just about saving money or getting custom layouts, it’s about investing in real estate with foresight.
For investors and homebuyers who can plan ahead, understand potential future proof locations, and approach the real estate markets with long term planning, under construction properties can prove to be life changing, offering high value and returns. If you are someone who has done the homeworks and due diligence, this type of real estate knows how to reward patience with profits.
The truth is, this decision isn’t just about the purchase itself, it is more about who you are buying it from because in real estate a property is only as real as the credibility of the builder. A credible builder with a proven track record, timely updates, and legal transparency makes all the difference. That's why it's critical to:
If you’re someone who has the long term vision, planning, and the desire of owning a landmark address in the historical transformation of the Vasai-Virar real estate market, then Contact With JSB Group which is offers 8+ upcoming projects with all the modern amenities and access to real time construction updates, clear RERA compliance, and open access to all necessary documentation not just to win your trust, but to give you what you deserve as a homebuyer through transparency.
Still unsure if now is the right time or project for you? That’s okay, our dedicated team of experts back at the JSB Group HQ are here to guide through the homebuying process and to explore the emerging markets through consultation and real advice that will make you think beyond square footage and into long-term value.