In pre-launch, some approvals are pending. But the developer can start advertising the project. In the launch, all the permissions are with the developer to begin the sale of the units.
A project is said to be in a pre-launch phase when a builder announces his project without starting any process for getting regulatory approvals. It is a plan which the builder is selling. The risk associated is high as approvals still need to be in the process. The agreement on which both parties have agreed is warped. It is because the developer usually mentions the change in the development plan.
The difference Between a Prelaunch and Ongoing Project is as follows
While the benefits involved in purchasing property in pre-launch are pretty rewarding, you need to be careful when buying a property in pre-launch. If you want to purchase a pre-launch property for investment purposes, ensure that all the documents are proper.
Ongoing projects are currently in the construction course. There will be some timeframe for the completion. We have to wait till the completion date. The rates will also get increase compared to the prelaunch phase.
The price of ongoing projects will be a bit higher than at pre-launch.
When you purchase a pre-launch possession, prices will increase once the construction gets completed. The Difference Between Prelaunch and Ongoing Projects is the finished apartments are ready to be sold to other buyers. If the demand is better, the prices will increase. If there is development in the nearby area, the costs will increase. It can augment the value of your investment in just a few years.
Brigade Oasis prelaunch plotted development project at Devanahalli, North Bangalore.