Should You Go For Invitation-Only Properties?

Irrespective of how high you could raise the bid, certain properties can just not be grabbed. Yes, we speak of properties that are sold through “invitation only”. While building such ultra-luxury projects that are meant for exclusive communities, builders offer you the best of everything, your neighbours included. You need to have a certain social standing, apart from the moolah, of course, to be able to get the invitation to invest in such projects.

From private elevators to personal service staff and from private jets to personal swimming pools at your disposal, you could certainly expect to live life king size if you are fortunate enough to receive an invite and buy a unit here. You also enjoy membership of exclusive clubs and high-end recreational centres as part of the package. Little wonder then that rate of such properties often hovers Rs 10 crore upwards, and could touch as high as Rs 50 crore.

Before a slowdown gripped the sector and adversely impacted the health and wealth of developers, launching such projects in fact has become quite fashionable in the developer community. Since gone is that time when high-net worth individuals were pursuing real estate for its many charms and investing great amounts of money to make the most the sector offered, sellers of properties that were sold by invitation-only earlier are opening up. This makes it an opportune time you to invest in these coveted properties. However, care must be taken before you go ahead.

First of all, try and find out if the by invitation-only property is worth it. More than often, developers stamped this tag on projects only to lure buyers in the name of exclusivity. Its ticket size cannot be the only parameter to make a property worth buying though invitation only. Since you will be paying a hefty amount to buy this property, make sure you get to enjoy the amenities meeting that standard.  Look at what exclusivity you would be able to enjoy as a member.

As is true of any property, location plays a key role in selecting such properties also. Investing in a grand project built in some far off city outskirt would hardly make any sense, unless the location itself is exquisite. If you are looking to enjoy peace and quiet in a lavish dwelling, go for a serene location where pollution levels are comparatively lower. 

Since you may be paying much more than what is property is actually worth, make sure everything is according to your personal liking. Also be mindful of the fact that selling this property at a later stage would not be an easy task.  The new buyers will have to meet a similar criterion before you are allowed by the housing society to transfer ownership. Such a property would be hard to sell.

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