An assured return offered on a property (that's under construction) is a legal agreement between buyer and seller, under which seller agrees to give buyer an assured investment return each month till the property is ready and possession is formally handed over to buyer. If an assured property return is promised in case of a built-up property , seller promises that he will find a tenant for the property and assures a fixed rental income for the buyer for a fixed time period. Both - buyer & seller have to mutually agree on the assured amount, which is decided as a percentage of the total property worth. This percentage can go around 9 to 13 percent (as seen in most cases).
Few things you should know before investing in assured return property:-
• Builder expects complete payment at the time of signing of the agreement (some builders take 90 to 95% amount as initial payment and rest on possession by the buyer).
• Many builders secure the leasing rights with them even after the property is ready for possession and continue to pay buyer the agreed up on money until he finds a tenant for the property who is ready to pay agreed amount as rent. From thereon, tenant pays the rent directly to the buyer.
• Once a buyer buys 'assured return property', there is stepping back from the agreement. Builders will not refund your money (unless there is an exit clause in the signed agreement). So this is something, you should consider while signing the agreement.
Today in Delhi-NCR region all the real estate firms are coming up with lucrative deals in the assured return properties..Invest wisely in the assured return property and takes a step towards smarter you.
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