A new-build flat: the project, the stage of construction and payment
A finished project or one still under construction
The key question when buying a new build is the stage. In a building that is finished and lived in, you see the real compound, the neighbours and the state of the services. In a building that is still going up, the price is often lower, but you take on the risk of delay and depend on how reliable the builder is. So decide whether you are ready to wait, and write it in your request.
The second decision is the condition of the flat. It can be a bare shell, a “white box” with levelled walls, or a version with finishing by the builder. The difference in the cost of finishing can be big, so compare offers with that in mind. Ask separately about the class of the project: budget, mid-range or premium, because ceiling height, parking, landscaping and the level of service depend on it.
What to put in your request
- area or project — city, area, metro or a particular complex;
- number of bedrooms;
- budget;
- size;
- stage of construction — completed, or with an expected handover date;
- condition — bare shell, white box or finished;
- floor and lift;
- way of paying — a payment plan from the builder, a home loan, cash;
- amenities — parking, power backup, water supply, clubhouse;
- builder or class — budget, mid-range, premium.
Example: “Looking for a 1 BHK flat from 600 sq ft in a completed mid-range project in Pune, Hinjewadi. Not the ground or top floor, with power backup, finished. I would consider a payment plan from the builder. Budget up to ₹60 lakh.”
How to search through BlaBlaPrice
You create a request once, and builders, sales teams and agents reply in the chat: which flats are available, the price, the payment plan, the handover date, the plan. They can see where their offer stands and may improve their terms. You compare options in one place and open your contacts only to the one you choose.
What to look at in the offers
- What is in the price: only the flat, or a parking space, a storeroom, finishing.
- The terms of the payment plan: the first payment, the schedule, and what happens if you are late.
- Approvals and the status of construction: whether the project is RERA-registered, whether permits are in place and how the work is going.
- The builder’s reputation: whether earlier phases were handed over on time, and what residents say.
- Utilities, roads and social infrastructure around the project.
Show the agreement to a lawyer before you sign it.
Common mistakes
Choosing a project only from the renders. Comparing the price per sq ft in buildings of different condition. Forgetting the cost of finishing, bills and maintenance charges. Not finding out who runs the common services and how that will show in your bills.
If you want a ready home, see apartments for sale in general, and for a temporary option for now long-term rent of flats. How the service works is explained on the “How it works” page.
