Home buying is a crucial
decision. Whether you are buying your first home or looking for a property for
investment, you need to pay attention to many things. There are times when
homebuyers hold back their decision of investing in real estate due to adverse
market conditions. Recent demonetization move is one of the examples when many
people who were almost going to pay for their new homes took backstep.
If you have also been
planning to buy a new home and waiting for the right time, the right time has
finally come. Yes, you read it right. This is the perfect time to invest in a
residential project in India. Just have a look at real estate
sites in India and you will find most of them promoting housing
complexes due to the reasons given below.
The exponential growth of
Indian realty sector: Though the market got hit
due to demonetization, it has recovered from it. Various amendments in laws
including Rera (Real Estate Regulation & Development) Act and Benami
Transactions act have played a vital role in the exponential growth of the
market. Further, the exemptions provided in the home loan in the Income Tax Act
have also encouraged people to buy property.
Low-interest rates on a
home loan: There are a limited number
of people, who can pay the complete amount for their home from their pocket.
With a high ratio of middle-class people, in India, most of the people apply
for a home loan to realize the dream of owning an apartment. What if you are
looking for a home loan and get it at impressively lower rates? Yes, this is
possible now. After demonetization, banks got a colossal inflow of funds, which
helped them bring down interest rates. So this is the right time for you to
grab the opportunity and buy a flat. You should start searching properties sites
in India.
Higher returns: The returns on investment in the real estate sector are expected
to grow in near future. This will make this sector a favored choice for
investment while leaving behind gold and fixed deposits.
Feasible property prices: Increasing demand for the affordable projects and government’s
support to builders will definitely boost the number of quality residential
projects. It will also help you find a property at reasonable prices.
The launch of PMAY: Since its launch three months back, the government has already
got more than 1.5 crore applications. The Pradhan Mantri Awas Yojna (PMAY)
focuses on helping economically backward section get their own home with the
help of private builders. This move has remarkably increased the demand
for affordable housing, which will also help the government meet its goal of
‘Housing for All by 2022’. Just check any property site and you will be amazed
to look at the increasing number of affordable housing projects launched by
builders.
These are just five reasons
to help you understand that this is the right time to use your savings in
realizing your dream of buying your own home.
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