Under-Construction vs Ready-to-Move Luxury Homes in Gurugram

Almost every client I meet in Gurugram asks some version of the same question. Should I buy something I can move into now, or something that will be ready in a few years? There is no universally right answer. But there is usually a right answer for you, and it depends far more on your situation than on what the market is doing this quarter.

So let us go through it honestly. I will use Tonino Lamborghini Residences in Sector 71 as the worked example, because it is a clear case of an under-construction luxury project: RERA registered, launched in 2026, from a listed developer, with no possession date published yet. That last point matters, and I will come back to it.

What you are really choosing between

A ready-to-move home is a finished product. It has an occupancy certificate, you can walk through the actual flat you are buying, and you can live in it or rent it out within weeks of registration.

An under-construction home is a contract for a future product. You agree on a unit, a price and a payment schedule today, and the developer builds it over the next few years. You are buying drawings, approvals, a specification list and a developer's ability to deliver.

Neither is risky or safe by default. They carry different kinds of risk, and they reward different kinds of buyers.

The case for under-construction

A lower entry point, often

Launch-stage pricing is generally lower than what the same project commands once it is complete. Not always, and not by a guaranteed margin, so be wary of anyone who promises a specific appreciation number. But the logic is simple: you are taking on time and delivery risk, and the price usually reflects that.

Payments spread over time

You do not pay everything upfront. Payments are staged, either against time or against construction milestones. At Tonino Lamborghini Residences, the current plan is 25:25:25:25, though plans can change by phase, so always confirm what applies when you book. For many families, staging is the difference between a comfortable purchase and a stretched one.

First pick of units

Early in a project, you choose from the full inventory. The floor you want, the view you want, the corner you want. By the time a building is complete, the best units in a well-received project are usually gone, and what is left on resale comes at the seller's price.

Newer design and a more current product

A project designed in 2025 and 2026 reflects current thinking on layouts, green building and amenities. Here that means around 12 ft ceilings, four apartments to a core, IGBC Platinum pre-certification and a clubhouse of about 1,00,000 sq ft. A ready building finished several years ago was designed for the expectations of its own time. Branded residences, in particular, are a fairly new category in India, so most of the choice is still under construction. Our branded residences explainer covers why.

RERA protections

The Real Estate (Regulation and Development) Act, 2016 changed the game for under-construction buyers. In broad terms, a registered project must keep a large share of buyer money (70% under the Act) in a separate account to be used for that project's construction and land cost. Developers cannot take more than 10% of the cost as an advance before a registered agreement for sale. Prices are quoted on carpet area. And if possession is delayed beyond the date in the agreement, the buyer is entitled to interest for the delay or, if they choose to exit, a refund with interest. Structural defects reported within five years of possession must also be fixed by the developer. Rules and their application vary by state, so read the Haryana RERA provisions or ask your lawyer for specifics.

The case against under-construction

Delay risk is real

RERA has reduced it, not removed it. Projects still get delayed by approvals, labour, funding or plain mismanagement. Compensation helps, but interest on your money is not the same as having your home on time. When there is no published possession date, as is the case here at the time of writing, ask what timeline the agreement will commit to and judge the developer's record honestly.

Paying rent and EMI together

If you are renting today and taking a loan, you may pay both for a few years. Put that number in your budget before you sign, not after.

You cannot see exactly what you are buying

A mock-up and a specification list are good, but they are not the finished home. The view from the 30th floor, the actual light in the living room, the noise at night: you will only truly know these at handover.

GST applies

Under current rules, GST is charged on under-construction residential property. For non-affordable homes, the rate is generally 5% without input tax credit. On a home worth several crore, that is a meaningful amount. Tax rules change, so confirm the current rate with your CA before you plan around it.

Ready-to-move: the honest pros and cons

What works

• What you see is what you get. You inspect the actual flat, the actual view and the actual neighbours.
• Immediate move-in or rental. No waiting, no overlap of rent and EMI.
• No GST, in general. Once a project has its completion or occupancy certificate, GST does not apply to the sale. Stamp duty and registration still do.
• No delivery risk. The building exists. Your remaining checks are about title, quality and maintenance.
• A track record to look at. You can see how the society is run, how the clubhouse is maintained and what residents actually think.

What does not

• Higher price, usually. You are paying for certainty, and completed homes in good projects are priced accordingly.
• Most of it upfront. Expect to arrange the full amount, through savings or a loan, within a short window.
• Limited choice. You get what is available, often on resale, and the best units may never come to market.
• Older design. Layouts, amenities and green standards reflect when the building was planned.
• Wear and tear. A resale flat may need refurbishment, and the building's common areas will have aged.

Side by side

Who each option suits

End-user families who need a home soon

If your lease ends next year or your children start school in a new area, ready-to-move is the sensible choice. Do not let a launch discount push you into a timeline that does not fit your life.

Upgraders with time on their side

If you already live comfortably and are planning your next home, under-construction often makes more sense. You stay where you are, pay in stages, and get first choice of a newer product. Many of the buyers I speak to for this project fit this description.

Investors

Investors tend to favour early entry in a strong project from a credible developer, because that is where any pricing advantage sits. Just be clear-eyed. No one can promise you appreciation or a rental yield, and you should treat anyone who does with suspicion. Hold period, liquidity and your exit plan matter more than headline returns.

NRIs

For NRIs, staged payments and a long build period can work well, since you are not managing a tenant from abroad in the meantime. The flip side is that you cannot easily inspect progress yourself, so a developer's track record and transparent updates matter even more. Our NRI buying guide covers the practical side.

How to reduce risk on an under-construction purchase

If you lean towards under-construction, these are the checks that do most of the work.

1. Check the developer. Look at how many projects they have delivered, how late they were, and how buyers felt. A listed developer also publishes financial disclosures you can read. Tonino Lamborghini Residences is developed by Signatureglobal (India) Limited, which is listed on the NSE and BSE. More on the team is on the about page.
2. Verify RERA registration yourself. This project's HRERA number is RC/REP/HARERA/GGM/1056/788/2026/28, dated 08.04.2026. Look it up on the Haryana RERA website and see what has been disclosed.
3. Understand the escrow concept. RERA requires a dedicated project account for most of the money buyers pay. Ask how that works for your payments and which bank account your cheques go to.
4. Check the approvals. Here that includes DTCP Licence No. 187 of 2025, building plan approval dated 03.03.2026 and zoning plan approval dated 19.02.2026.
5. Read the payment plan closely. Know what triggers each instalment. Construction-linked triggers protect you better than purely time-linked ones, because your money follows actual progress.
6. Read the agreement for possession and delay clauses. Look for the committed date, any grace period, and how delay compensation is described. A property lawyer is worth the fee.
7. Budget for the gap. Rent, EMI, GST, stamp duty and registration. Put them all on one sheet.

If a developer will not show you a document, or a salesperson promises a possession date that is not in the agreement, treat that as information.

Applying this to Tonino Lamborghini Residences

Here is how I would frame it for a client. This is an under-construction project with clear approvals in place, registered under HRERA in April 2026, from a listed developer, with design by Handel Architects and the Tonino Lamborghini team. Demand has been strong: Phase 1 sold out, as covered in our Phase 1 update, with Phase 2 expected soon.

What you do not get is a published possession date. So if you need to move in by a fixed time, this is probably not your home, and I would tell you that plainly. If you have time, want first choice of a branded residence in a new product category, and value staged payments, it deserves a serious look. Start with the indicative price list, then see the layouts in person.

Before your visit, our site-visit checklist will help you ask the right questions. When you are ready, book a visit to the Sector 71 sales gallery. No pressure. Come with your doubts, and we will go through them one by one.