KATHMANDU, Feb 21: Until a few years ago, people need to book apartment and homes before they are constructed but now most housing companies are also offering ´ready-to-move-in´ apartment and standalone homes in the Kathmandu valley. Builders say as the bookings have been extremely sluggish, many of the under construction apartment blocks are now ready with some units still unsold. That brings in the trend of builders offering ready-to-move-in apartment and standalone homes while buyers have the irresistable proposition to move into a new house. Status Enclave Sanepa Apartments of Lifestyle Housing, Retreat and Rio Apartments of CM Developers, Grande Tower of CE Developers are offering ready-to-move-in apartment units while Vinayak Colony of CM Developers is offering ready-to-move-in standalone homes. According to Minman Shrestha, general secretary of Nepal Land and Housing Developers Association (NHLDA), ready but unsold units in apartment blocks are tagged ´ready-to-move-in´ units. "The apartments which were not sold have been completed and are now being sold as ready-to-move-in units," said Shrestha. Rio Apartments at Kupondole has 5 apartments, which are ready in all respects and come in the price range of Rs 8.1 million to Rs 10.2 million, depending on area and number of rooms. Likewise, Retreat Apartments at Bijeshwori has around 12 ready units available for Rs 7.4 million each. Status Enclave Sanepa Apartments has 22 ready apartments available for Rs 10.27 million per unit while Grande Towers at Dhapasi has 300 ready-to-move-in apartments. Similarly, 4 ready-to-move-in individual homes are available at Vinayak Colony in Bhainsepati, which is available in the range of Rs 10.28 million to Rs 20 million. "As people still do not have a habit of living in apartments and prefer individual homes, many apartments, which have been completed but could not be sold yet, are open to outright purchase," said Niru Shrestha, marketing officer of CM Developers. Rady-to-move-in apartments save rental payments, people do not have to wait for years to get their apartments, there is no chance of delayed construction and price escalation but still apartment living is not very popular among Nepalis, making it difficulty for the builders. Manoj Sapkota, site in-charge of Status Enclave Sanepa Apartments, said tightening of bank loans and lack of government attention to real estate sector have brought stagnation in the real estate sector, resulting in lots of ready-to-move-in apartments available in the Kathmandu valley.
Source:myrepublica