The launch is the most used term in the real estate industry. It carries a great significance in the industry as this is the foremost and prominent step in property development.
This launch term is used in two means which are
This is the very beginning stage of the property initiation where the builder announces the property. In this stage, the approval of the property would not be initiated and just the ground designing would be in process. Tasks like preparing the master plan, collecting all the documents related to the property are all done at this stage.
This stage is not the official launch of the property. This is the perfect phase for the investors to buy this property as they could avail sizeable discounts. At this point, the properties would not see the actual property rather they see the proposed layout and plan. These discounts are given by the builder to spike up the sales count to use the funds for marketing and other promotions.
Soft Launch is the stage followed by Pre-launch. At this stage, the approvals are already been processed and waiting for the required approvals. This stage property is quite less at risk compared to Prelaunch projects. This stage property is offered with a 10-15% discount from the actual property price.
Though these Soft Launch projects are considered to be the safer ones for investing since all the documents have been processed and are in process of approvals. However, without the proper RERA approval, even this soft launch project is treated as illegal.
Some of the legal aspects in regards to the pre-launch and soft-launch properties are mentioned below
These Pre-launch and Soft launches are two-way beneficial prospects that aid the builder and the home buyer and investors.
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