Definition
In Indian real estate, an Under-Construction property is an apartment or villa sold by a developer while the project is still being built. Because buyers are taking on the completion risk, these properties are typically sold at a significantly lower price than ready-to-move-in homes. Buyers pay in staggered installments connected strictly to construction milestones (e.g., 10% on foundation, 10% on 3rd slab).
Practical Example
A buyer invests in an under-construction apartment for ₹60 Lakhs, expecting it to be handed over in 3 years. Post-RERA, the builder legally cannot demand the full ₹60 Lakhs upfront. The buyer only pays the next ₹6 Lakhs installment when the architect physically certifies that the 5th-floor slab has been successfully cast.
Application in Superwise
The Sales & CRM module in Superwise bridges the gap between the physical site and the homebuyer. When the execution team marks the "5th Slab Cast" milestone as 100% complete in the scheduling module, Superwise automatically triggers the CRM to email legally compliant "Payment Demand Letters" to all homebuyers who purchased apartments linked to that milestone.
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